His pal Kaiser said yesterday they'd have to raise a billion in capital this year to maintain distributions and today he basically called the whole industry a Ponzi scheme.
He said this about BWP being booted from the Alerian index
"Not willing to run a ponzi scheme business model? Then you can't be in the Alerian Index"
Kaiser is spreading rumors again. Claims they need to raise a billion in capital this year and more next year to maintain the dividend. Management better start defending themselves.
He doesn't even know the yield on LINE which he owns for his trust. He says in his KMP video he would swap out of LINE right here if he didn't feel the 8% yield was good. I guess he definitely wouldn't swap out at a 9.5% yield.
These late to the party downgrades are useless. If they were going to downgrade, they should have done so when the quarter was reported and guidance given. It appears to me that the downgrades Monday put a bottom in the stock. It opened down hard and finished up on the day, we may see the same thing today.
From what I can tell, Andrew Bary is simply a pen name for Kevin Kaiser
"vast majority of people I talk to re: $LINE $LNCO expect "beat and raise" on Thurs. I agree, it's easy to beat/raise when the # is made up"
SEC says their accounting is fine but it's doesn't fit with his view so it's made up
It's just comical that Andrew Bary does nothing but Parrot Kevin Kaiser in these articles. I saw this cover and knew it would be full of quotes from Kaiser who's emboldened after the BWP blow up. Is there any doubt that Hedgeye had advanced knowledge of this article and increased their short position? Now that he's written one you can expect few more, each with more dire predictions. I don't even own Kinder and this #$%$ ticks me off.
Down every day in pre-market, what else is new? Fortunately, we only have week to go to find out some truth.
I assume they're in a quiet period ahead of earnings, probably the reason for the timing of these attacks. I wouldn't be surprised to see some gloating in Barron's this weekend over the BWP blow up with some quotes from Kevin Kaiser.