In addition to my portfolio I keep a list of dividend and distribution companies I might be interested in buying (around 40).
Today every single one of them is down big, really big. I have never seen this before, not even in 2007-2009. These are mainly companies the pay 6% to as high as 20% and of course most are MLP's and reits, but some are very solid companies that i would not have imagined could be lumped with them. I have one
exception KMP. Anyone have an idea, I know a lot of us own the same companies.
The CA lawsuits against LINE amounts to an attack on all MLPs. The accounting is legitimate GAAP, the cash flow is proven by decades of experience -if LINE were to lose the lawsuit the lawyers would use the precedent to attack every MLP starting with E&P but continuing to every corner.
I think that fear of rising interest rates and ultimately inflation is gripping the market. We all know that the government is spending far more than they are taking in and the federal deficit keeps rising. This could all end very badly.