Jack suckered people into OXF before he cut and ran
You missed the point. They just cut the distribution more than 50%.
Thus your 16% yield only lasts until the finance quote providers update their data.
The 16% yield is based on last quarter's distribution which has just been slashed.
Anyone who followed Jack's advice probably lose their shirts.
You are correct............If they didn't get out when e did. Didn't jack mention something like this would happen? This is why he said he sold. others had plenty of time to get out as well. The game of recommendation needs to be watched closely if you are going on others advice.
No, he tried to convince everyone that the distribution was solid. He said no need to sell unless Obama wins the election. Then he quietly exited all his MLP investments.
He probably convinced a number of small investors that OXF was safe and left them holding the bag.