While my disgust for Aubrey McClendon and Chesapeake Energy’s (CHK) board of directors ethics and self dealing prevents me from investing more than a very minimal amount into the company, I do believe the stock is undervalued. I’m also very interested in the bonds if they go down a little further to yield 10% to maturity. This is a company with extremely valuable assets in a cyclical depression in natural gas prices. They have constantly overspent and gambled just like their CEO and that is not the type of stewardship that any investor should accept.
http://online.barrons.com/article/SB50001424053111903964304577420783142983926.html?mod=BOL_hps_oe
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