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"You cannot step twice into the same stream""

|Includes:SandRidge Permian Trust (PER), SDT, WHX

I like to use the phrase "You cannot step twice into the same stream" when discussing trusts, stocks, situations -- prior to giving answers. A royalty trust, for example, has distributions already paid out vs a fresh IPO without any paid distributions.

WHX was once a darling, but now its distributions are running long into the tooth compared to a SDT. It's difficult to compare them without doing a side-by-side present value comparison.

Many trusts have early years hedged and older trusts don't have any hedges in place.

Heraclitus is famous for his doctrine of change being central to the universe, as stated in his famous saying, "You cannot step twice into the same stream".

You could not step twice into the same river; for other waters are ever flowing on to you. Heraclitus, On the Universe Greek philosopher (540 BC - 480 BC)

Stocks: PER, SDT, WHX