I added some ENLK after they fell a few bucks last week because of a secondary offering and I've been nibbling in the BDC arena with PNNT and MCC. I like them with rising interest rates on the horizon.
I agree Phil I'm not adding to my Line shares here and actually lightened up a few weeks ago for a little diversification. I still hold too many considering the risk but these deals with Blackstone and Quantum make me feel a little better at least in the near future. If oil supply doesn't dry up and oil prices don't recover by early next year I will have to reconsider energy and Line as investments. Future of oil is still too cloudy to predict at this time.
Maybe you're not looking in the right direction. Try removing your own from your derriere, it might help unless your foot is in the way.
Yep being able to invest with the benefit of hindsight would be very rewarding indeed but the choice's I laid out were Line or a less fortunate MLP that had no credit backing. Obviously I'm sure we would all have invested elsewhere six months ago but we don't have that luxury now. So it's Line with the backing of Blackstone and Quantum or move in another direction. I take it you are NOT invested in Line or Lnco as we speak so I wonder what your motivation is to post here unless you are holding shares underwater like a lot of us and are just venting. I let some of mine go when we ran to $12.25 on March 5th and added to my ENLK position when it dropped a few days ago because of a secondary offering but Line is still my 2nd largest position next to APPL. Thank goodness for APPL!
Of course Quantum and Blackstone want to make money on their investments, DUH. How about the fact Linn now has the cash to acquire depressed assets without adding to their debt. Don't you wish you had a billion dollars to invest back in early 2009 when the DOW was trading below 7000? Quantum and Line have a long history in fact Quantum created Line back in 2003. Linn will manage the partnership and have a stake of 15-50%, and will also be paid general and administrative costs without adding much to their debt. They are being proactive and are fortunate to be able to take advantage of the current weakness in the energy sector. Would you rather be invested in another MLP that is going belly up with no private equity knocking at their door!
Thank you for the wonderful compliment, but how do they know it's me for certain. Can they "sees' everyone who invested in Linn? Can you sees this middle finger?
So Obama and Clinton get all the blame when things go bad and no credit when things are positive. I bet you think Reagan and Bush did a wonderful job.
As someone once said, "Better to be lucky than smart".
You must be real lucky, Lucky!
So all 3 million jobs created last year were low wage jobs in the service industry? Is that a guess or do you have the data to back it up! Would you rather go back to losing 3 million jobs a year instead!
I wish I could answer who buys and who gets bought. If I could you wouldn't be reading my posts here, I'd be partying with Scarlett, Naomi and Jennifer at the mansion.
So now we have Quantum willing to commit up to $1 billion of equity capital to fund acquisitions and Blackstone another half billion + to get it out of the ground. These company's didn't get to where they are by giving their money away, patience!
I think you are flashing back to 2008 Gumby. Almost THREE Million jobs were created last year alone, the most since 1999 when another Democrat named Clinton was President. Also Obama's approval numbers are getting better. A recent new poll finds 53% saying things are going well, 46% badly which is Obama's highest rating since he's been in office. For comparison just 39% said they considered George W. Bush's presidency a success in January 2007, 55% considered it a failure. Bill Clinton, by contrast, was considered very successful, with 77% calling his time in office a success and 20% calling it a failure, probably guys like you and your bud Norris.
Meanwhile nearly two-thirds (63%) disapprove of the Democratic leaders in Congress, while 74% disapprove of the Republican leadership.
It could disrupt supply routes. If Bab el-Mandeb Strait is closed it could prevent oil tankers from the Persian Gulf from reaching the Suez Canal and block the quickest route for tankers from North Africa to Asia Oil tankers.
I'm certain if the war hawk was still in office we would have our kids scattered ALL over the Middle East hell hole. Chaney and friends would most certainly want to protect their interests and assets. Let Saudi Arabia and all other OPEC nations band together to do their OWN dirty work for once. We've wasted enough lives and minds in that region already!
This is the EXACT quote Obama made, PRESIDENT BARACK OBAMA: "The strategy of taking out terrorists who threaten us while supporting partners on the front lines is one that we have successfully pursued in Yemen and Somalia for years. And it is consistent with the approach I outlined earlier this year, to use force against anyone who threatens America's core interests but to mobilize partners wherever possible to address broader challenges to international order."
As usual the right wing wackos take EVERYTHING out of context to support their dire need to get another wacko elected President.
That's because Bush was responsible and it has already been proven, FACTUALLY! You have a group of Republicans that have been attempting to undermine Obama ever since he was elected. The speaker of the House vowed to do everything possible to defeat the President. Mitch McConnell: "I Want To Be Senate Majority Leader In Order To Make Obama A One-Term President". Even Republicans were surprised and embarrassed by McConnell's statement. Former Republican Senator, Joe Scarborough was floored by McConnell’s open admission that his single most important goal is to defeat Obama. “Mitch McConnell said that?!? … He admitted that on the record?!? That is embarrassing,” he said. “Can I just say for the record – that is pathetic.”
Obama and the US have come along way from the wreckage that Bush left this country
in, In spite of the party of NO-HELP!
Oil will not be $100 by year end unless some catastrophic event pushes it there temporarily. Say the word "OVERSUPPLY" 3 times and maybe it will sink in or maybe not. This ISN"T a demand issue. If it were it could correct pretty quick.