Natural Resource Partners (NRP). Back in the 1980s, when coal was 'hated', Texas oilman "Corby" Robertson "bet the farm" buying. While great visionary investors frequently act in exact opposite fashion to the prevailing 'sense', great vision usually requires great patience.
Fast-forward to 2014: coal is still 'hated' but "Corby" is a billionaire. Yet while energy prices have gone from boom to bust before, the recent technical marvel of the "shale revolution" is no short term 'fad'; Natural Gas prices have been upended and are squeezing coal while utilities convert to cheaper, and more 'politically correct', Gas. As a result, the Robertson-founded MLP, Natural Resource Partners , has been under pressure.
For this reason we have avoided NRP....
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