Good morning Ling, I had only 2 tranches in RIG when I re-engaged last January, and the then-current LI portfolio didn’t have the number of energy positions we hold now. After reading/watching everything, I finally understood how to do the average downs properly. I went ahead and averaged down in the last position at $1.04/sh which dramatically brought down my breakeven. I was very fortunate to have done that when I did and under the circumstances at the time.
