The reporting on this incident kind of reminds me of business, stock reporting, a lot of noise and not much based on fact, how many time have they said "fluid" situation in the past couple of hours, translated, they don't have a clue what's going on. We have way too much media in our lives, and they have to fill time, not sure it's beneficial.
The wife and I had this discussion earlier today. It seems to me the stock market volatility is so high because of instant media news. This is probably a bunch of #$%$ with high frequency trading being the real culprit but it sure was a lot easier to make money and hold on to it when you had to wait for the newspaper to come out to get yesterdays closing stock prices. It sure seems like every time we get ahead 10-15% we give it all back in just a couple days. Market timing has never been my forte. I am more the buy and hold type. That sure hasn't worked out in the last 10 years or so. Maybe time for a change for this hard head.
Birdog, thinking about you comment, I am a buy and hold investor, and have done fairly well over the past 15 or so years, and thinking about it, it's been because of my concentration in energy midstream. I never thought it would be that big a deal, and just hit it right with the shale explosion, and kept adding to it over the years. I worked for e and p s and have never been that big a fan. I've seen how they tend to put everything they make back into the ground. The goal is always drill more and increase production, without much regard for returns. That's why I liked the MLPs, I knew it was all about increasing the distribution and a return on cash invested, otherwise they wouldn't invest. Also, over the past decade or so, oil has gone from $10 to $100 and gas from $1 to $10 and back to $2. Don't think we will see that kind of move again in our lifetime. I have resigned myself to not keeping e and p s forever but would like to keep them for a couple of years. Out of all the energy cos, Exxon probably comes closest to a good long term hold, it has returns near 15% per yr for the past 30 years. I'd like to find a few others that could do that, it's not that easy. But this game of trying to guess what moves in the next few weeks is a fool's game imho. But lots of institutions pay big money for that approach, and the hedge funds have become the market and after fees they will consistently underperform the market.
Oh well, quite a thunderstorm that moved through last night and that explosion, was that close to any of you ranches. Hard to believe you would build a residential area around a fertilizer plant, very sad.
they ( the media ) all have to be the first, with the worst... terror/horror sell.. I think the way the criminal cases in the USA are mediatized is ridiculous.. I like the way Canada does it.. a Criminal is on tv/or in newspaper.. charged with a crime.. the next time it is reported on, when the outcome of the trial is finished.. JMHO.. don
Don, amen. Listening to the fertilizer explosion coverage last night, they were reporting 70 dead, one is too many, but asked people to speculate about something, and then a while later, were reporting what the person said almost as fact. One reporter was reading some environmental report that probably had now bearing on the fire, but was implicating that there was a smoking gun in the report. Kind of like all the gas bags we hear on business TV daily. Our culture is out of control and not in a good way, the tech stuff that we enjoy has a bad side as well.