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Enterprise Products Partners L.P. Message Board

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  • ch4_tycoon ch4_tycoon Jul 21, 2009 10:00 AM Flag

    For those wanting an MLP in an IRA

    <<<So you - ch4_tycooon, are suggesting one buy a closed end fund

    No, I am saying that I have seen on this board some folks desiring to hold MLP's in an IRA. The CEF I pointed out would allow for that in a relatively simple fashion.

    I own EPD directly, not in a CEF, and I point out that there are hefty fees to the "privilege" of owning a CEF.

    <<<while I try to play well with others

    You sound more like a prick to me.

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    • Then, let me ask - hopefully in a less prick-like way, that you explain your logical justification for your suggestion of KYN over the other MLP CEFs. The year to date stats for the MLP CEFs - http://www.investorvillage.com/smbd.asp?mb=5028&mn=8276&pt=msg&mid=7603911

      Of the nine MLP CEFs that I track, KYN has had the third best NAV appreciation - which it pretty good. But if that is one of your criteria, then why not choose the CEF with the best appreciation [TYY] when it sells at a much lower price/NAV ratio?

      Why are you suggesting the one MLP CEF with the highest price/NAV ratio? Why are you suggesting one of the MLP CEFs that have cut its div over the last twelve months and not one of the MLP CEFs that have raised the div?

      And why suggest a remedy to a problem - which to me implies that you are continuing the false expectation that every MLP has an UBTI problem when held in an IRA?

      Why not share your UBTI experience [the data] with EPD since you have held those units?

      • 3 Replies to factoids2002
      • I wrote "Why are you suggesting the one MLP CEF with the highest price/NAV ratio?"

        DANG! I should have wrote SECOND to the highest. But the price/NAV number for SRV looks too high to be believed [look as its extreme NAV volatility as calculated at EFTconnect.com - http://www.etfconnect.com/select/fundpages/other.asp?MFID=181611 ]. Some of that may have to do with the delay between the NAV updates and the current prices. With a lot of MLPs up 10% or more this month [examples as of 7-17: DEP, EPD, EXLP, GEL, HEP, MWE, NGLS, PAA, RGNC, TLP, WPZ, MMLP], the CEF with the largest delay in its NAV update will tend to have the largest price/NAV ratio. So the price to NAV ratios in the spreadsheet posted at Investor Village [the link in my last post] can be funky due to that delay and due to be major price appreciation happening this month.

        So I want to give ch4-tycoon a pass on the potential fault of suggesting a CEF with an out of line price/NAV - those numbers are out of whack due to delays in updating the NAVs - while the price portion of the price/NAV ratios are current as of 7-17.

        Sorry for not noticing this error plus this potential 'systems' error in the calculations. This problem could potentially explain goto_golfers impression that the price/NAVs look manipulated.

      • <<<hopefully in a less prick-like way


        nope, it didn't work. Still prickish...no, maybe more douchebagish.

      • That FMV price to NAV sounds manipulated. I'd be a seller of KYN if I owned it.

 
EPD
72.46+0.28(+0.39%)Apr 15 4:04 PMEDT

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