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Breitburn Energy Partners L.P. Message Board

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    • All of the MLP's are getting attention right now. Multiple write ups on the entire sector. The more speculative ones are now getting the most run up in price (E&P's, G&P's, and those that people are anticipating/hoping for a return of distributions soon BBEP, XTEX, APL). If these companies don't perform well with operations their share prices will get pummeled.

      • 1 Reply to opytion
      • "The more speculative ones are now getting the most run up in price."

        Given the difference between current market capitilization and value of the company, I view BBEP as a great investment. In other words, one of the LEAST SPECULATIVE MLP's in the sector.

        I quote from the investment great Benjamin Graham:

        "Imagine that in some private business you own a small share that cost you $1,000. One of your partners, named Mr Market, is very obliging indeed. Every day he tells you what he thinks your interest is worth and furthermore offers to either buy you out or to sell you an additional interest on that basis. Sometimes his idea of value appears plausible and justified by business developments and prospects as you know them. Often, on the other hand, Mr Market lets his enthusiasm or his fears run away with him, and the value he proposes seems to you a little short of silly.

        If you are a prudent investor or a sensible businessman, will you let Mr Market's daily communication determine your view of the value of a $1,000 interest in the enterprise? Only in case you agree with him, or in case you want to trade with him. You may be happy to sell out to him when he quotes you a ridiculously high price, and equally happy to buy from him when his price is low. But the rest of the time you will be wiser to form your own ideas of the value of your holdings, based on full reports from the company about its operations and financial position.

        The true investor is in that very position when he owns a listed common stock. He can take advantage of the daily market price or leave it alone, as dictated by his own judgement and inclination. He must take cognizance of important price movements, for otherwise his judgement will have nothing to work on. Conceivably they may give him a warning signal which he will do well to heed - this in plain English means that he is to sell his shares because the price has gone down, foreboding worse things to come. In our view, such signals are misleading at least as often as they are helpful. Basically, price fluctuations have only one significant meaning for the true investor. They provide him with an opportunity to buy wisely when prices fall sharply and to sell wisely when they advance a great deal. At other times he will do better if he forgets about the stock market and pays attention to his dividend returns and to the operating results of his companies.

        The most realistic distinction between the investor and the speculator is found in their attitude toward stock-market movements. The speculator's primary interest lies in anticipating and profiting from market fluctuations. The investor's primary interest lies in acquiring and holding suitable securities at suitable prices. Market movements are important to him in a practical sense, because they alternately create low price levels at which he would be wise to buy and high price levels at which he certainly should refrain from buying and probably would be wise to sell."

        Another way to define investment related to the way investors value things. If you cannot value something, it is a speculation. This is a broader definition, and tends to exclude most things. The share of any company about which no information is available is speculative, the share of a company that you know enough about to be able to "value" it, even if you can't do so with any great precision, is an investment if the market price is less than or equal to your valuation.

    • Thanks!

      What a nice week this is.

      GLTA

    • Probably because the stock has a 19% dividend!

 
BBEP
8.14+0.49(+6.41%)Dec 17 4:00 PMEST

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