Well, here's some good news. The way I see it, LNCO is really worth $32.14 -- that's the unit price of LINE and LNCO simply owns one unit of LINE for each share of LNCO. In addition, it is likely that LINE is a bit undervalued. So I tend to watch LINE more than LNCO. Yes, I know about the tax effects on dividends vs distributions, but long term, one is going to pay taxes on dividends or on gains from an adjusted basis of the partnership units so I sort of net all of that stuff out.
Oh, and I don't have a clue what today's sell off was all about. Profit taking, nat gas prices, shorts playing games, robotic trading. No news whatsoever.
I like your way of thinking. Just wish we could figure a way to get LNCO to that same $32.14 number. Maybe once the Berry deal and all the other recent deals workout, they want need LNCO and all us LNCO holders get converted to LINE share for share. Just kidding as doubt that could ever happen and it would really "tick off" the Line Share holders considering we all have been getting the same dividend.