Yes, and Pfizer, one of the greatest companies in the world, was trading at $41 16 years ago. It now trades at $30. Even great companies can take 30-40 years to get even. Credit Suisse Group & Deutsche Bank are trading at 1991 levels. It could take many decades to get back to where it was last month. My guess is at some point most MLP's will convert to corporations as did KMP/KMI. Don't hold your breath here.
There is no end to this down draft in sight and no catalyst to turn things around. I like the EPD story and like the distribution, but I need a whole years distribution just to cover a day and half's losses. My brain says sell & re-enter much later at a much lower price, my heart says keep hoping. I'm selling half today and re-evaluate.
Sorry to say, but EPD will drop below $15 in time. Yes, it's worth more than that, but when the pendulum swings, it over swings to both extremes. Sell & short EPD, then go long once a bottom is in. Don't trade on emotion, think of EPD as a card in a deck, nothing personal.
Tell that to Credit Suisse Group & Deutsche Bank AG. Both are now much cheaper than during the 2008 crisis. They are both trading at levels last seen in 1990. This is worse than 2008 for sure.
Be careful to not get in too soon. This could easily go single digits. Better to wait for a bottom & buy it at $15 when its on the way to $18 vs. buy at $15 when its on its way to $8. Don't shoot the messenger. Happy trading.
Actually sounds like it will hurt, not help. Sounds like he is saying that the pipelines customers will be lining up for bankruptcy and won't be paying their bills. Yes, EPD is listed as less susceptible, but nonetheless, susceptible. Down we go some more.