A story about Icahn
I have traded in and out of this stock for several years now and have made money up until this current holding which presently represents a modest loss as of this writing. The previous venture into this was back last summer. Carl Icahn was in the news regularly about his involvement in NetFlix and Herbalife. One day, as I was sitting there underwater with my Talisman holding, I posted a message on Icahn Enterprises website suggesting he look at Talisman because of it's undervaluation and lame management. If you have been in this for a while you probably remember, the stock started moving up suddenly but there was no apparent reason. Finally, after it moved into a profitable level, I sold out($12.25U.S.). To my surprise, later that day it traded up to $13 after Icahn news broke. I never got a reply from Icahn, so I don't know for sure it was my email that triggered his involvement. The point of all this is, Icahn has thousands of companies to pick from but he choose Talisman, there must be something to the proposition that there is hidden value in this company, even though it seems to be constantly stuck in the mud at a low price. Icahn just doesn't jump into that many non U.S. companies, so something is compelling him to get involved here.