Great article on our competitor on "the Street." However, if you don't drink the cool-aid while reading it, you will see what a real worm this guy is. He is a billionaire several times over, but does little for the country where he made him billions . Sends all his employment to India and moves to St, Thomas to avoid US taxes. What really made me sick is the author makes him out to be " A REAL AMERICAN HERO, and businessman". If anyone remembers back when, Ocwen and Buffett sued in to have NCT & NRZ contracts set aside and reopened to these bidders. At the time it smelled of backroom politics, cigar smoke and lots of loose cash just laying around for the taking by the feds, lawyers and judges. It smells even worse now.
The amended S4 is supposed to be available on the SEC web site this morning. I was assuming this to mean when the market opened. It looks as if the SEC is still playing game with us. I can't find it anywhere. It was my hope this one would give us all the answers we wamted.
I'm guessing we are going to close up 6%-8% today. Sort of depends on the day traders bailing and shorts covering (so not to pay distribution) and tomorrow depending on how positive the S4 is maybe up another 5%-7%.
They also put a value on the company, regardless of the share price. That is why you sometime see a company selling for 20%-30% more than share price.
Sometimes the computer trades are a little slower in kicking in. They zero in on different key words for different groups. With the many positive key words and stats in the release it's just a matter of time before the price starts easing up. Watch the volume.
Go back and read #5 They had to leave a lot of blank spaces. I feel sure #6 is going back and filling in the spaces. I'm hoping this is a case of dotting the i's and crossing the t's.
If it falls through I will still be in the green. I stopped giving any of your post serious consideration a while back. You need to go back to quibbling about your puts and calls that don't make a whole lot of sense either. Much like your predictions of below $20.
Good question. Back in 2008-2009 I bought 8 MLP's all were in the $18-$24 range except KMP which was a little over $50. I bought around 3000 shares of each except for KMP ( 1600 shares). LINE and EVEP was two of them. The only on I have sold is EVEP. I got leery of them when management repeatly issued PR's about how much the company would make "when we sell some of our leased land positions." For three consecutive qtrs they raised their distribution .0001 cent. This made me lookreal close. Way to many PR's with no substance (much like a lot of posters want LINE to do now) and no justification on the .0001 distribution increase other than to be able say we have increased it every qtr. When the price got to $76 a share with no supporting data it became suspect. EVEP is the kind of company the SEC should be investigating. It is the only one of my original 8 I sold (in the $50's)) and the other 7 I have added to along the way thru distribution reinvestment and some addition buys. I now own 10 and they are all in the green except one, which will be shortly.
There are some bad ones, usually small and over extended but with hope. I don't like MLP trusts, some folks have made good money with them, but they are bad for the long haul. One company comes to mind which most people would consider bad "Chesapeake" however I think all their bad is behind them and there is money to be made, I don't own it and never have, but I look at it every week and it is high on my list when they increase the distribution.
I have not used my margin account since 2000, but if the 3qtr is what I expect Monday, I am going to double up, and my share position in LINE is in the 5 figures. LINE has had an outstanding reputation as a MLP ( one of the best) since I have owned it. I haven't seen anything to change my mind. For sure a 27 year old second string hockey player is not going to change my opinion.
The S-4 pertains only to the merger with Berry. It would be nice if the deal goes through, but if it doesn't it is back to business as usual. LINE was as high as $42 not so very long ago and the distribution was around 7%. Everyone was happy. This is a stand alone of $35-$38 stock. This SEC has been a pain in the rear, but nothing has changed in LINE's business model itself. I believe we are going to see a very good 3rd qtr report. That report does not have to say anything about Berry. it would be nice if they gave us some direction, but I don't care. I have owned LINE for 7 years, they have never missed a distribution and even when their price was in the low 20's it was a sound company. I don't care whether the deal goes through or not I will own LINE in 2014, 2015, 2016, 2017 do you get the message. I am here for the long haul. The heck with the BRY deal. Do it or don't do it. I don't care.
No one here has mentioned that come next year all of us on this board will be paying an extra 3 1/2% on capital gains that is earmarked for Obamacare.
Do you think I don't know that, I've only been doing this for 5 decades. The point is it cost me nothing and there are some qtrs I get lucky and the open market shares are a few pennies cheaper. But if you really insist on splitting hairs you are correct, you are absolutely correct.
I do it thru Fidelity. They take care of everything. Of course it's a return of capital on the distribution, not a dividend.
Who do you think was buying this morning in 20K-60K blocks, certaintly not guys like us on this board. Most of the action was this morning was buy side. The volume is already past avg daily volume in the first 3 hrs of trading. It is the little guys selling now in in HUGE blocks of 200-2000 shares that's bring the price down. The ones that got lucky when they bought their 2500 shares at $23-$26 and now they are taking their profits and like some on this board they are selling because they got even ( all 500 shares). I've been here for 6 1/2 years ( on the DRIP) and LINE has never missed a distribution. Now all you shorts show me the negatives!!!