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Inergy, L.P. Message Board

youcanpickum 54 posts  |  Last Activity: Nov 20, 2014 11:08 PM Member since: May 29, 2000
  • youcanpickum youcanpickum Nov 20, 2014 11:08 PM Flag

    What I want to know is the exact breakdown of investors in ACE 3. Could there be any funny business going on with Malon or anyone associated with ACAS have indirect ownership of ACE 3? Transparency.

  • youcanpickum youcanpickum Nov 20, 2014 9:07 AM Flag

    Only thing hurting us now is strong dollar.

  • youcanpickum youcanpickum Nov 14, 2014 11:56 AM Flag

    ABY dividend guidance raised. Not ABGB.

  • Reply to

    Analysis-ARCP

    by nowreallyknowthetruth Nov 14, 2014 7:26 AM
    youcanpickum youcanpickum Nov 14, 2014 11:26 AM Flag

    Are you a moron? You should not be posting if you have no idea what you are saying. DRIP is all new shares and the company gets the money. Where do you think the shares come from? AIR?

  • youcanpickum by youcanpickum Nov 13, 2014 12:14 PM Flag

    This is from the CCPT V supplement:

    On October 29, 2014, the indirect parent of our sponsor, our advisor, our dealer manager and our property manager
    announced non-reliance on certain of its financial statements. Subsequently, our dealer manager was advised by several of the
    broker-dealers participating in this offering that they would either terminate or suspend their selling dealer agreements with our
    dealer manager, and by certain prospective broker-dealers that, for a period of time, they would suspend their initial review of
    our offering prior to entering into a selling dealer agreement with our dealer manager. As a result, we may not be able to raise a
    substantial amount of capital in the near term. If we are not able to raise a substantial amount of capital, we may have difficulty
    in identifying and purchasing suitable properties on attractive terms in order to meet our investment objectives and may be
    unable to reduce our current leverage profile. This could also adversely affect our ability to pay regular distributions from cash
    flow from operations to investors.

  • Reply to

    What if ARCP wins the lawsuit?

    by jaust192 Nov 13, 2014 11:16 AM
    youcanpickum youcanpickum Nov 13, 2014 11:56 AM Flag

    This is the sad result of guilt by association. Nothing more. RCAP will recover. The sad part is that the Cole deal would have been good for RCAP. The stock portion of the purchase was crushed and would have required much more cash. This would have been a point of contention anyway.

  • Reply to

    JP Morgan upgrade this morning....

    by blankwillie Nov 11, 2014 1:01 PM
    youcanpickum youcanpickum Nov 12, 2014 11:22 AM Flag

    Targets are meaningless whether they are high or low. I have seen targets cut in half over almost nothing or raise significantly and backdated by a day to match a stock's huge upswing on good news. JP Morgan's opinion is no better than anyone else's. The market is speaking right now and it is not too impressed. That is all that matters. My straddle will offer a buffer while this sorts out, but I have liquidated 3/4 of my position which was quite large. I just want to wait til after Jan 1. to sell the balance so I don't get hit with any more 3.8% surtax this year. At 15.38 I am about even vs an outright sale at 16.14 for the rest of my shares. Below that, I just postpone my tax bill by a quarter. Been watching ARES and others to see how market will treat ACAM/ACAS. Not very encouraging.

    Sentiment: Hold

  • Reply to

    American Capital Income Spinoff

    by youcanpickum Nov 5, 2014 6:09 PM
    youcanpickum youcanpickum Nov 10, 2014 3:21 PM Flag

    I own that too!

  • Reply to

    American Capital Income Spinoff

    by youcanpickum Nov 5, 2014 6:09 PM
    youcanpickum youcanpickum Nov 10, 2014 2:50 PM Flag

    Take a look at FSFR trading at 10.88 with a book of 13.89. 78% of book for a senior loan fund with a $1.20 dividend. I have a spreadsheet of funds and most are at 10 - 20% discounts to book. So I don't expect a miracle. When you take the haircut of dilution, and expected discounts, there isn't a whole lot of near term upside. I sold the 16 calls and 14 puts so I am satisfied for now and will keep doing something similar while I wait.

    Sentiment: Hold

  • Reply to

    Merger math

    by marklibera Nov 6, 2014 3:57 PM
    youcanpickum youcanpickum Nov 10, 2014 2:08 PM Flag

    ARCX LP units equal 12% x 40% x 12,950,000 shares outstanding divided by 51,900,000 of ATLS = 0.012 shares of ARCX per ATLS = $0.275 per share of ATLS using a price of 23 on ARCX. 16% GP share value is a question mark, but certainly not close to $2. The real question here is value of various GP components, ARP, Lightfoot , DEVCO GP.

    Sentiment: Buy

  • Reply to

    Newcomer longs - something to be aware of

    by djp5625 Nov 9, 2014 10:37 AM
    youcanpickum youcanpickum Nov 10, 2014 1:32 PM Flag

    If they did the same thing going back 2 years, it would only amount to about 10 cents per share. So let's not be ridiculous here. You have a better chance of shooting the left testicle off a gnat than you do of moving the stock with exaggerated nonsense.

    Sentiment: Hold

  • Reply to

    American Capital Income Spinoff

    by youcanpickum Nov 5, 2014 6:09 PM
    youcanpickum youcanpickum Nov 10, 2014 12:06 PM Flag

    Just remember, they are hoping that the sum of the parts is greater than the whole. The fractions in this case may add up to more than 1. Though my guess is that we will see a haircut from $21.50 after expenses, taxes and selling pressure. Most won't want all three so there will be some selling. Once the tax hit is known, which will surely be before the spinoff, ACAS will adjust stock price-wise for that cost. How that will affect someone's cost basis is another question unless it it in an IRA. The worst case scenario would be for someone to buy right now in a non IRA and get hit paying tax on a dividend. I would like to know how it will be characterized (dividend, cap gain, combination of the two) sooner rather than later, so I can plan for it.

    Sentiment: Hold

  • Reply to

    The Road Ahead

    by alexalekhine Nov 10, 2014 10:58 AM
    youcanpickum youcanpickum Nov 10, 2014 11:31 AM Flag

    While they might not get their Q in on time, they will most certainly get a waiver from banks. This is not unusual as it might seem. This is not a bankruptcy, liquidity issue and the banks know it. Don't make exaggerated statements here. This is not a company that needs the cash to pay for inventory and has reliable cash flow from properties. You are referring to businesses like GE, Ford, JC Penney and others that use cash on a daily basis and have significant cash flow fluctuation. Real Estate couldn't possibly be more the opposite, so no, there won't be any big draw down. The dividend could be cut for a few months to build up cash for legal and other costs, but even that will be considered a one time event and probably be reserved for going forward.

    Sentiment: Buy

  • youcanpickum youcanpickum Nov 9, 2014 2:37 PM Flag

    I apologize in advance for saying this, but if you don't completely understand how options work, you should not trade them. Investing is complex for many reasons, but options, due to their limited liquidity, large spread, high cost to trade, outsized risk, etc should be avoided unless you have a deep understanding of how they function relative to the underlying security. Options are adjusted for splits, dividends over a certain percentage of the share price of the underlying security and a number of other factors, but they don't just become worthless due to those reasons. They become worthless when the underlying security trades outside of the strike price at expiration. That is it. You should read your options agreement. That is what it is there for. Then study option strategies. But this is not the forum to be learning something that basic.

  • Reply to

    Governor Ed Rendell

    by legalbark Nov 7, 2014 6:45 PM
    youcanpickum youcanpickum Nov 7, 2014 8:11 PM Flag

    I always say, "trust a politician if you are looking for the truth." Problem is that in this case it is a sad truth. This is tied to the outrageous bonuses these guys have given to themselves. Why would a CFO get the kind of bonus they had given in the first place. Here, let's just divvy up $300 million amongst ourselves guys. They won't notice. the vote wasn't binding anyway, even if they did vote it down. But seriously, the $35 million given up by one middle exec tells you a lot about the outrageous pay in the first place. It won't go too far toward covering the costs of legal and accounting costs to fix this mess, but it's a start. Now if Kay and Schorsch would give back some of their over sized bonuses to offset the cost, we would have truly found a dedicated and caring set on managers. What do you say guys? Or are you simply going to reset your options lower and rape the shareholders further?

    Sentiment: Hold

  • Reply to

    American Capital Income Spinoff

    by youcanpickum Nov 5, 2014 6:09 PM
    youcanpickum youcanpickum Nov 6, 2014 7:49 PM Flag

    You will get shares of three companies: ACAS/ACAM, American Capital Income and Growth and American Capital Income. The latter two are spinoffs and the ACAS/ACAM will be a stub of the original ACAS. So you should end up with same # of ACAS/ACAM shares as you now have of ACAS. The other two may be some consolidated # of shares to keep the price high enough for indices and listing requirements of various exchanges. This whole thing is now a funnel for fees into ACAM and new employment agreements all around. Don't be surprised to see great stock option packages handed out. If I recall correctly, ACAS was bumping up on limits before so this opens it back up for more significant dilution to management going forward. Just sayin!

    Sentiment: Hold

  • youcanpickum by youcanpickum Nov 6, 2014 11:54 AM Flag

    "Can't wait to take advantage of performance based equity compensation not permitted by BDCs"

    Sentiment: Hold

  • youcanpickum youcanpickum Nov 6, 2014 11:44 AM Flag

    That is my point. This is not going to Book any time soon. At best, 90% of book. I lightened by half this morning on the open. Sold calls on most of the rest.

  • youcanpickum youcanpickum Nov 6, 2014 11:40 AM Flag

    On average my list of BDCs including a number of senior loan funds trade at 89% of book. Only one is at book and that is PMT which is not a BDC. acas
    acsf
    ainv
    arcc
    bkcc
    fsc
    fsfr
    nmfc
    pmt
    pnnt
    psec
    slrc
    suns
    ticc

    Sentiment: Hold

  • youcanpickum youcanpickum Nov 6, 2014 11:16 AM Flag

    Savings, synergies, and fees are simply moved from income funds to ACAM. This is shifting of deck chairs, not new income. Basically just moving income to make ACAM look better. As a whole, ACAS would not have a single dime of additional income. I dumped 50% this morning and wrote 400 of the december 16s on part of the rest. I think we move back to low 15s for now.

    Sentiment: Hold

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