When it comes to the No. 4 energy services company Weatherford (NYSE:WFT),
I have walked the line between supporter and apologist as I thought I
saw a lot of potential value in running this business better.
Unfortunately, while it is still true that Weatherford has an
interesting under-valued business, it's also true that the company's
management has to clean up a lot of messes. Consequently, there's value
here, but its value that comes with a big asterisk.