Introducing the CVI - Punch Card Portfolio Newsletter

I write a weekly investment newsletter. This newsletter involves the development of a focused portfolio of undervalued securities. The subscription price is $12 per month (cancel any time). Every investment idea I recommend will be one I purchase for my own portfolio. If you have questions prior to subscribing shoot me an e-mail (

Please note I'm running a low-tech operation and that the newsletter is sent by me via e-mail. There will be a delay between when you pay and when you receive your first e-mail (usually a couple of hours).

Subscribe to CVI - Punch Card Portfolio Newsletter

Friday, November 30, 2012

How Quickly Rising Gas Prices Deleverage Chesapeake

My latest Seeking Alpha article:

What really strikes me is how much Chesapeake's balance sheet is deleveraged by these EBITDA increases. From an Enterprise Value to EBITDA of 3.9 to 1 in 2012 Chesapeake could get down to under 2 to 1 with an increase in natural gas prices. Throw in the debt reduction that Chesapeake plans from assets sales that are designed to reduce net debt to $9.5 billion and this company starts to look almost sensibly leveraged.

Link to article :

No comments:

Post a Comment