He is entertaining, but he is usually wrong with his advice. I have lost money when I listened to him, and made money when I did the opposite of what he says. He has been totally off the mark with ETP.
The analysts upgrade after the fact in every instance. I am long ETP, but Goldman is a joke anymore. The upgrade didn't even mean a thing to the market.
I don't totally understand what the ramifications of this are. Does this mean they are going to sell the amount of shares to raise that money and what are limited interests?
I see wells being capped and consumption stabilizing or increasing. The glut will be brought down and prices will start to rise. We shall all see how this plays out.
ETP should be reporting good coverage in a couple of weeks. I think hedge funds are going to pile back in once they see the pipeline tollways are intact.
Williams and Sunoco have announced distributions with no cut. I am betting that the ETP distribution will be the same or increased.
I know you are correct. It is being driven down by year end sell off of hedge funds. They are being forced to sell to cover redemptions. It will end soon.
I feel that ETP has been like the baby thrown out with the dishwater. Those pipeline assets are the cheapest way to transport ng and oil, and we are always going to be using those fuels in our lifetime. I am in it for the longterm. I admit I am nervous about the dividend short term, but in the longterm this company will flourish and the unit price will grow. Volumes can change with demand, but it will all even out in the end game.
I have bought more all the way down from 65 till now. If I disclosed how much I have board people would call me a liar. I am screwed if it doesn't come back, but I have put my money where my mouth is.