Where is Bonk and all of his FGP bashing buddies? Where are the shorts???
With all Bonk's expert analysis he had the distribution cut by more than half 3 years ago and had this stock trading at under $8 per share. He endlessly called us longs bag holders...
Well, I guess he was right about one thing, we are bag holders, we just happen to be holding bags of money, mostly his as he loved shorting this.
Come on Bonk, we miss your insults!
Funny the people like Bonk up and vanish like a fart in the wind when things don't go the way they wanted them to.
Anyway, I'm long on this stock and have been at a zero basis for many years now because I've stayed the course. Longs on this stock have been well rewarded and with no way to lose money it's only a matter of how much profit to take.
I'm not saying it's a perfect stock, it's far from, but it's been a great solid investment for me and the profits have been awesome.
FYI to FGP longs, Bonk and his buddies have been rabid bashers on the IOC board for years posting their drivel on almost a daily basis. You can certainly find them over there as IOC is on the cusp of signing a deal with XOM that will bulldoze the shorts. So they are frantically posting any nonsense they can conjure trying to keep their nose above the rising tide. They are nothing more than message board gypsies. Dumpster divers and pick pocket artists spreading fear and lies. Good luck!
Still here bags. No point in shorting over the summer - will probably load up going into the winter unless it's expected to be a very cold one. Keep picking up those nickels in front of a steamroller while you can.
Over the years we have seen the same periodic appearance of our friends, the sellers.
They always prattle the same time worn clap trap.
"The distributions exceed earning"
"Necessary to borrow to maintain it."
You know, the same #$%$ that ignores the special ways MLP's books are stated.
Trick here is simple.
Pile up the distributions, and WHEN the idiot sellers make their next run......
BUY whatever you can. Call it a deferred drip.
Also a good idea the add a chunk of new cheap units, and ride those for the short term capital gains.
Now, if you want to get fancy(and make a ton of money)...... Write a bunch of puts when the common is under attack. Write them out for the next 6 or 7 months, if you can................
Now that is a pleasing source of new powder...... To buy more when the fools provide you with the next opportunity.
That is how simple it is..............