toby shute getting with the times, page-8

Way too many words just to say "okay, I was wrong and still have no idea how to value this". At least he is toning it down now. No more "pie in the sky", "oil price is dropping" type comments in this update.

Seems some can only value a stock in retrospect, ie what has already happened. Yesterdays price reflects what has already happened, tomorrows price reflects what happens going forward. Since most of us can only buy stock at todays prices, coming to the conclusion that the stock was actually worth a lot more a week ago then you previous claimed isn't a real helpful insight for his readers.

Time to stop using the telescope to look backwards and start reading the company's stated strategy and the implications of this. Harping on about the value of dirt is largely irrelevant when the stated objective is to exploit what is 10,000 ft under the dirt. If the oil isn't there then the value of the dirt drops by 99.99% anyway so giving it a value per acre equivalent to a few of dozen barrels of oil is completely missing the point.