What do you expect for a billion bucks? Cherry cheesecake? Yes, things might be a bit slow for the next 18 months. It's called "investing". The company survives and thrives when oil recovers. Ed
SXE just does not trade much. 145K today. So it's easily moved in any direction. Ed
Two of my oil stocks are up 15% today, another up 14% and BBEP [11% of my portfolio] is down 1%.
I feel like my approach shot on the 16th green ricocheted of the flag pole into the lake and that is very bad. Ed
Obviously, the EIG gang that just dropped a billion dollars on BBEP expect to do well. The convert pps is 7.50 so they expect that in a heart beat and much, much more. Maybe the "market" will figure that out - at least some are ... Oil price will be way up sooner than must realize. As soon as inevitable demand increase overtakes production it will become very interesting. Once SA sees US production fall in a meaningful way they will cut production and we'll be off to the races as long as producers don't get greedy and increase production. This recent price drop has left some psychological scars on CEO's they won't soon forget. If they are smart and have learned the lesson from SA they will let the market do the drilling and oil will be back over 100 once more. 12% of my portfolio is BBEP. Also have LRE, PWE, PGH, LSTMF, SFY and TBTEF.
Obama should be in jail. Anyone see the NY Post cqartoon this morning? The Iran president is sitting at the negotiating table across from Obama and says, "Death to America!" Obama replies, "What ever it takes" [to get the deal done].
I thought the US does not negotiate with terrorists. How 'bout a terrorist nation? My God, what on earth are Obama and Kerry doing? The penalty for treason is death. Ed
For many years I thought BBEP was one of the best run MLP's. They now have an opportunity once more to prove they are. ed
The Bof A analysis makes sense. I also added this morning partially to off set my purchases at 12.50. Remember they did a secondary last October to help fund the QRE purchase at 18 or so. I thought 12.50 was a bargain. So was 10.50 and 8.50 and 7.70 and now 5.47. Ed