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Enterprise Products Partners L.P. Message Board

minireef05 13 posts  |  Last Activity: Feb 4, 2015 12:21 PM Member since: Aug 16, 2006
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  • Reply to

    Take some money from the table .......

    by orliskas Feb 4, 2015 12:07 PM
    minireef05 minireef05 Feb 4, 2015 12:21 PM Flag

    I'm pretty sure it's gonna be paper money after as well. Unless you're asking for rolls of quarters at the bank.

  • Reply to

    Lost its mojo once it penetrated 97 in AH?

    by cantdance123 Feb 3, 2015 5:08 PM
    minireef05 minireef05 Feb 3, 2015 5:37 PM Flag

    You didn't speak anything.. you typed it. Let's try to keep things in perspective.

  • Reply to

    How does BRKB Outperform....

    by fredrickson01 Dec 18, 2014 9:34 PM
    minireef05 minireef05 Dec 20, 2014 10:27 AM Flag

    J, much better to sell the bricks, siding, roofing, paint and other components to the the people building the house and then exit the picture-- at least you know you are getting paid for your products. Same for sales from remodeling where the contractor or homeowner pays for the products and then is responsible for doing the work (or paying off the credit card or home loan used to purchase the products for the job). Much more risk involved in blanket mortgages. They already do mortgages through various subsidiaries, but can have tighter control on credit risk. Freddie and Fannie are too much bulk mortgage risk to take on.

  • Reply to

    How does BRKB Outperform....

    by fredrickson01 Dec 18, 2014 9:34 PM
    minireef05 minireef05 Dec 20, 2014 10:13 AM Flag

    Jad, I can understand the dismay with a stock that does not pay a dividend-- some people want to see that as a part of their investment because it provides some cash flow for the year and can be construed as a sign of normal operations. Berkshire is not that kind of vehicle, as you well understand. There is an entire spectrum of dividend plays with MLP's and REIT's at one end and the BRK's at the other. The choice is yours as to which investment path to follow, and quite frankly, it is not for anyone else to knock or question-- you park your money where you see fit.

    On the point of "unscrupulous stock pumpers", I can somewhat agree with that sentiment as well, where people expect BRK to continue north and so buy continually buy more the whole way up. However, at 17-18 times earnings, this is hardly anywhere near a momentum play. GE trades at a higher multiple with a lackluster balance sheet, heavy bureaucracy, and misaligned management. Now, if BRK was trading at 25 times earnings and making 3-4% moves every day, then you would quite correct. However, that is quite far from reality.

    The truth is that BRK is quickly adjusting itself away from from a stock investment vehicle to an autonomously managed but centrally organized (via a common balance sheet and income statement) conglomerate. While a significant amount of book value is still derived from their $100 billion+ equities portfolio, their earnings stream is overwhelmingly dominated by core businesses. Some people might look to the overwhelming size of their insurance float, closing on $100 billion, as an unstable or unsustainable component of business value. I think Berkshire is well aware of that sentiment as well, deploying larger sums of capital into hard-backed assets.

    For some of us, the inner-workings and business/investment philosophies of Berkshires are a thing of beauty. In its purest sense, take cash made from a float, invest into equities. Receive dividends and buy a company.

  • Reply to

    It won't be long before companies

    by xit_wounds Dec 17, 2014 4:48 PM
    minireef05 minireef05 Dec 18, 2014 10:25 AM Flag

    True, but there's no real way to use it without hundreds of billions of investments to improve the infrastructure of the country. The infrastructure build out is the first major investment theme. Then again, essentially nothing has thawed in the economic relationship, so it is a mute point.

    If things thaw, look to CAT, DE, engineering firms, telecoms, food processors, and the like.

  • minireef05 minireef05 Dec 17, 2014 3:59 PM Flag

    I'm sorry but I think you guys are missing the point. The price of crude does not impact UOP as much as refinery and petrochemical plant utilization and throughput rates. They make their money from catalysts and technology licensing. As long as these plants continue to run at near full capacity to meet VOLUME demand of refined products and petrochemicals, they are making their targets. The price of crude is down because of a glut of crude oil in storage and overhead production. The utilization rates at refineries are not cratering. Demand for oil has not dropped, with the exception of projected future demand increases--- the base demand is still there. There is still a significant petrochemical demand yet to be met, especially for propylene and likely soon enough for methanol (Methanex and others are building out capacity in the US south to meet growing demand for this base feedstock and fuel additive/replacement).

    You need to watch run rates of production to see whether UOP will be okay. High run rates equate to high licensing/royalty payments as well as faster use and replacement of catalysts.

  • Reply to

    Time for Berkshire Hath to Shed KO

    by fredrickson01 Dec 13, 2014 1:08 AM
    minireef05 minireef05 Dec 16, 2014 10:59 AM Flag

    Whoops! I read the EPS instead of the Dividend-- sorry about that. 40.67% yield on cost then.

  • Reply to

    Time for Berkshire Hath to Shed KO

    by fredrickson01 Dec 13, 2014 1:08 AM
    minireef05 minireef05 Dec 15, 2014 4:39 PM Flag

    And they make a lot more than $300,000,000. 400,000,000 shares paying $1.80 in dividends--$720,000,000 pre-tax.

  • Reply to

    Time for Berkshire Hath to Shed KO

    by fredrickson01 Dec 13, 2014 1:08 AM
    minireef05 minireef05 Dec 15, 2014 4:37 PM Flag

    A nice bond? It's a lot more than that! $3 cost basis paying a dividend of $1.80 for a 60% yield on cost! Attempt to go find a bond like that anywhere in the world currently. No, KO is not like a bond. It is like a gold mine or an oil well that just keeps pumping.

  • Reply to

    Double the SPR and buoy US Oil

    by minireef05 Dec 10, 2014 12:44 PM
    minireef05 minireef05 Dec 11, 2014 10:24 AM Flag

    Which it why I said "double" it-- another 750 million barrels.

  • We should double the capacity of the Strategic Petroleum Reserve and buy directly from US drillers to fill it at these prices. We emptied how many barrels over the years to disperse high prices in the face of supply shortages. Why are we not refilling and expanding our holdings at these low prices?

  • Reply to

    Fewer wells but more sand

    by jefferybennett78 Dec 10, 2014 9:20 AM
    minireef05 minireef05 Dec 10, 2014 12:41 PM Flag

    Fear of oversupply is what is driving down prices. You think introducing US oil exports somehow reverses that trend?

  • Reply to

    Hopefully Warren Buffet

    by jforuus Dec 8, 2014 7:26 PM
    minireef05 minireef05 Dec 9, 2014 12:24 PM Flag

    Buffett is no longer crucial to the success of the company. This is not the 1990's where equity selections are leading the growth of the company. The equities portfolio adds to the book value, for sure, but heck he does not run those companies and as long as they hold onto the stocks that have already been chosen, there is no problem. The operating units of the corporation provide far greater revenues and profits than the equity portfolio he crafted (largely done TWENTY years ago!). He is not calling the shots at Marmon, or GEICO, or McLane, or BNSF, or BH Energy, or Lubrizol, and yet these companies provide the backbone of the entire corporation.

    What Buffett has done is to bring together through accretion, long-lived and highly-successful entities under one corporate banner, to share balance and income sheets, and ultimately coffers. He brings them together, they flourish, and he redeploys capital effectively in new acquisitions.. And yet, separately these entities have been doing the same exact thing for dozens and even over 100 years in many instances. What is he doing that is any different than what the leadership of the components have been doing, except at one level higher in the hierarchy and with much much deeper pockets.

    You can Berkshire for Buffett or you can buy it for the entity itself, which would continue to grow if left only to the dividends of the equity portfolio and the successful business practices of the nearly autonomous leadership.

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