Who are you calling "shorty?" I'm long 8000 units of MMP and a slightly lesser amount of EPD. The only thing I was short of was brains for buying so much of this POS.
I can do the math. It closed 84¢ below where I sold. That's $840 found money. There's nothing wrong with leaving something on the table, especially knowing that the stock will collapse like a punctured balloon if Dr. Frost leaves the scene unexpectedly. I hope Dr. Frost lives a long, healthy life and gets to see his dream through to fruition, but the fact remains that he's over 80 years old. No one knows the true state of his health. Opko, more than any other stock I've ever owned, is uniquely dependent on one 80-year-old individual. I'm 74, in good health, and I know I can drop dead at any moment. There's nothing wrong with having some money in a stock like OPK, but I have way too much at risk to make sense. Most financial planners would tell me I'm crazy investing in a stock like OPK at my age. The odds are surprisingly good that Dr. Frost will eventually die; I just don't want to be loaded with OPK when it happens. The actuarial tables don't lie.
Just got home and found out that I sold all my BRLI at 42.10 on an open order I put in the other day. That was easy. I might buy it back at 39 when it gets there, but I'm not going to put in the order for now. Frost is about 80-81, and I have serious misgivings about anyone that old. Regardless of how well planned out his whole strategy might be, the psychological effect of him suddenly being out of the picture would totally devastate Opko stock. He's a billionaire several times over, but he's not immortal. Simple prudence dictates not being over-extended in a situation like OPK. Like it or not, this is very much a one-man show.
The bull market in MLPs has been slaughtered. The sellers have been awarded both ears, the tail and the balls. It could take several quarters or even years to recover back to the old highs. This blood-letting could go on for a lot longer than you think. The overall market is irrelevant when it comes to MLPs. I own a good amount of CB but not nearly enough to bail me out of this disaster. I guess my heirs will have to sell EPD and MMP at huge loses after I die.
Obama was president for 6 years during which MMP climbed steadily and substantially. Why is it now his fault that MMP is tanking? Same administration, Republicans more in control than ever, and suddenly it all about big government? Maybe we should blame gay marriage.
Here's another interesting article (interview) from Motley: http://www.fool.com/investing/general/2015/06/28/the-biotech-drug-lord-how-one-man-is-conquering-th.aspx?source=eogyholnk0000001
I'm long both OPK and BRLI, so don't bite my head off. I haven't seen this mentioned here, so it might have been missed.
I'm not scheduled for an appointment until late August with my GP and my urologist until late December. I'll be at a party on Sat with about 30 doctors and about 5 malpractice lawyers. I'll see if anyone has ever heard of Opko. The last group of doctors I asked just gave me blank stares. Opko is not a well known company in my part of the country, but we know a lot about GE.
When did the Supreme Court get into the business of rewriting laws? I thought that was the job of the Legislative Branch. The part of the tax code I was referring to is the allowance of a stepped up cost basis upon death, not the tax treatment of MLP distributions. The whole subject seems to have died down and may stay in the shadows until after the 2016 elections. Meanwhile, the rout continues unabated.
Agree. Most MLPs are proxies for bonds but with a small kicker for the preferential tax treatment. If (make that a BIG IF) the tax laws are changed to take away some or all of the tax benefits of MLPs, the whole group is in big trouble. There was some talk of this happening, but it seems to have gone underground - for now. The lack of any bounce following the trouncing they took yesterday, is a clear sign that there's more downside from here.
Cramer is a professional tout. Occasionally he gets lucky, but his overall record has been terrible. Follow his advice at your peril.
The steady price erosion could continue to feed on itself for a lot longer than you think. Coal stocks are rallying on the SCOTUS ruling, and this is bad news for gas and oil pipelines. I still think it's too soon to start buying MLPs here. Too many negatives and too many unknowns. MMP could easily visit the 60's before this sell-off is over.
It's too late sell and too soon to buy. I sold my ETP at 59 right before the last distribution and don't plan to buy it back for as long as the MLPs are getting crushed. The trend and momentum are clearly lower with no turnaround in sight. If the tax laws regarding MLPs are changed, it could change the whole MLP landscape.
I couldn't agree with you more.
I've seen loads of outright profanity that they missed, but they censored out CR00K! That's laughable. If you want to see extreme abuse, take a look at the GE message board. Let's see what they do with CRUK. I suspect the censorship is done by a bot that just recognizes certain words to be zapped.
How's that split working out for you? Did it accomplish your goal of making EPD more attractive to individual investors? Where has the price gone since the split? Here we are, nearly a year after the split, with EPD unit price significantly lower. New, small investors who are lured in by a split are the first to cut and run when the price goes against them. That's part of what we're seeing now. Splits are not the panacea you think they are.