What's the deal with this parkchair phony?
He apparently is unfamiliar with any MLPs except for CLMT (he has never heard of LINE, one of the biggest MLPs and the biggest E&P MLP by far), and in another thread keeps claiming repeatedly that all the MLPs and trusts I mentioned (3 of them) have yields of 2% whereas they had yields of 8%, 7% and almost 40% respectively. I wonder how he does his yield calculations.
Well it's OK for someone to be unfamiliar with the MLP sector, but what makes him want to argue every point about MLPs and then claim I know nothing about them? Most folks here know I follow the MLP sector pretty closely and at least I can calculate a yield! In any case, I don't need to calculate things like yield as I have google docs spreadsheets which provide me up to the minute key statistics (ie. linked automatically to current price quotes) for the entire MLP and trust universe which allows me to sort by things like current yield with the touch of a button.
Anyway, be aware that parkchair is a phony. He makes out he has an understanding of the MLP sector and makes sweeping generalizations like "an MLP can never experience a short squeeze because it pays a yield of 7%". And when examples to refute the statement are provided he comes back with howlers like LINE, EVEP and WHX have trailing yields of 2% (he said that repeatedly about all 3). He made the same bogus claims in the recent thread about options. Some of his claims: "it is impossible to make money on options because it is a zero sum game", :you will pay a huge % in fees if you trade options", "your realized gains are not really profits at all if you are still in the market", all nonsense but he created a thread over 100 posts long with howler after howler. He never used options but felt himself qualified to argue with people who use them extensively.
It's fine for anyone to not use options, not follow MLPs, etc, but if you pretend you are an expert that makes you a phony.