I remember a few years ago this board was controlled by Jack and his 3 Stooges: norris, sand and one more whose name escapes me right now.
Jack was the first to abandon ship and hasn't been seen here is a long time. Jack had always been the leader so one he left the other 3 completely lost all discipline and started running around the board like headless chickens with no apparent direction behind their posts.
Later the forgotten name one disappeared, don't know what happened to him.
Sand wasn't seen for some time after the yahoo board changed formats but showed up again temporarily later. I believe he's no longer posting either.
Which leaves us with norris. I noted that with each departure of one of the 4, the remaining ones got that much nuttier (as though they were keeping each others worst excesses in check). Now that norris has been abandoned by all his cronies, he really has become a complete nutter. I don't think there is anyone on this board who has a clue what he is raving about most of the time. He really has become the resident village idiot on this board, continuously muttering to himself, interspersed with full blown outbursts of ranting and raving which nobody can follow. On top of which he seems to spend most of every waking hour on the board. Not sure if he is confined to a wheelchair and can't get out - whatever he doesn't seem to have a life outside of yahoo. Don't they have a name for that kind of mania?
Why are you telling me to read it? I did read it btw and just from the language used you can tell it's scare tactics from someone with an axe to grind. That guy has a long history of bashing MLPs and last year he was advising to sell everything because he said the S&P was going to revisit the 2009 lows by mid last year. The writer is a fraud but good at writing scary sounding headlines and articles. I didn't see any admission of misleading investors. Did you?
Here's an opposing view:
""In a filing with the U.S. Securities and Exchange Commission, the oil and gas producer made changes to the way it defines and calculates cash flow. Raymond James analyst Kevin Smith said the rewiring does not change Linn's underlying cash flow.
Meaning there is a lot of heartache going on but no change in the company's ability to pay its distribution or how much cash flow Linn actually generates," he said"
There is an index (or rather a set of indexes) maintained by Alerian.
Then there are a whole bunch of independent funds and notes which base themselves off those indexes. Changes to the index will typically be reflected by changes in the constituents of those funds. The funds are not managed by Alerian (the people who manage the index) although some of them put Alerian in the name (just like an ETF can claim to be an S&P index fund even though it is not managed by the folks at S&P - it just attempts to track their index).
"Red Thumb Walrathcral Willing"
We know he is willing, but is he able. That is the question.
There was a segment I saw on some news channel where people were asked which they thought was better: 'Obamacare' or the Affordable Care Act. So many people thought Obamacare was some terrible socialist scheme while the Affordable Care Act was a great new plan for, well, affordable health care. Pretty funny when Obamacare is the Affordable Health Care Act. Wonder if walrath was one of the interviewees.
a cursory check of the subject lines tells me that I haven't missed much. Of all the threads showing on the first page, only one or two have anything to do with NTI. Looks like Craig is determined to turn this board into one of those useless boards full of political bickering where nobody can discuss the actual investment because any on-topic posts get lost amid the noise. Too bad - all the actual NTI investors will be forced to go somewhere else.
You prefer them to sell that many units on the open market?
How much do you think the price would crash if they do that?
As with everything, if you buy in bulk you can get a discount.
How about because no refinery MLP has ever traded at an 8% yield and for most of their history they have always traded at 15-20%. You don't seem to understand that high risk factors into a much higher yield.
Consider that this was a very minor fire. Big fires and explosions are regular occurances at refineries. Sometimes the refinery is down for a year after a big fire or explosion. In this case the following updated guidance will necessarily result in a lower (compared to if there was no fire) Q3 distribution and may spill over in Q4 also.
"Given the occurrence of these events, the Company is updating operating guidance on throughput for the third quarter of 2013. Original third quarter throughput guidance was expected to be between 90,000 and 95,000 BPD. Updated throughput for third quarter is now expected to range between 78,000 and 81,000 BPD."
Once your cost basis reaches zero you pay LTCG on subsequent distributions.
And when you sell, an approximate guideline is that the difference between the purchase and sale price is taxed as cap gains, while the accumulated distributions you received will be taxable as ordinary income.
However, although the distribution itself is tax deferred there may still be significant tax to pay due to yur share of partnership income in box 1 on the K-1. Since you pay tax on that amount in the year you receive the K-1, that will increase your cost basis.
Just like if you sold your units to someone else.
The trust would not receive the proceeds, right? You would.
And the distribution would continue but t the new owner of the units, not to you.
Just understand it was not the trust selling the units.
You're the stupid. A unitholder is allowed to sell their holdings without clearing it with you first. That's all that happened.
a 1 1/2% loss is noise and can happen any day on no news.
Nothing 'crazy' about it.
What's crazy is obsessing over small daily price movements and searching for reasons.
I assume most people have him on ignore so will be unaware of what I'm talking about. But I've been away from the board for a few days and stocktraderfest has apparently spent all those days spamming the board with dozens and dozens of posts directed at me and asking me to refute silly made up silly claims of things which I never said (he seems rather comprehension challenged so possibly he misunderstood some things I had posted). Apparently he was deeply offended by my suggesting that the coming ALDW distribution will not be all that hot and it has driven him into some kind of posting frenzy (something like the verbal equivalent of running amok with a machete - we should hope types like that do not have access to automatic weapons as he seems to fit the profile of the LAX shooter and others).
Suggest that people just put him on ignore since he has pretty clearly lost his marbles and anyway never actually had anything worth posting (which of course never stopped him).
How is it different?
Rolling the put forward is identical to "holding it for x years".
You can hold your shares as long as you want, I can keep my short put as long as I want (by rolling it forward). We both collect income (you distribution, me put premiums) so we can both hold long enough such that the income eventually exceeds the magnitude of any paper losses (unless the thing goes completely bankrupt). Stop being so closed minded. The two arguments are identical.
I beg to differ...a roll is a buy-to-close accompanied by a sell-to-open. If the put goes up $5 then the buy-to-close costs $5 more but the proceeds from the sell-to-open is also $5 more so the two cancel out and I am left with collecting the time premium. I can do this forever and collect an indefinite income stream without ever buying a single unit. In fact I have been doing it for almost 5 years already and on all the variable distribution MLPs since they began trading. Premiums are high for these as they are so volatile. Rolling forward indefinitely is simply maintaining the same position for 3 months at a time and so is identical to your position of holding units for the distribution. We both can keep the position going as long as we want and we both collect quarterly income.
I see you haven't been convinced by the year worth of NTI trade data I posted on that board, so I'll continue to post the update next quarter so you can see again how I'll collect another premium.