cato

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8 Comments

    • More on Technical Analysis [view article]
      One of my life's observations: people get angry when their most irrational beliefs are challenged. The more irrational the belief, the angrier they get.

      The response to your articles is proof. Be glad that these people don't follow the example of their medeival predecessors, the alchemists, and try to burn you at the stake. ;-)       Jun 24 01:49 PM
    • The Great Oil Deception: Part Two [view article]
      Get an editor!

      This is one of the most incoherent, rambling articles I've read on SA. I think I agree with this guy. But what abominable writing.       Jun 15 01:11 PM
    • TEPPCO Partners: A Pipeline For Profits? [view article]
      Teppco had the unfortunate problem that the partnership technically terminated momentarily in '07 due to ownership changes. That meant that a lot of unitholders (like me) got saddled with fully taxable regular income (not even qualified dividend income!) that actually exceeded the amount of the distributions paid out. A very nasty surprise.

      May 09 05:03 PM
    • Outrageous Opportunities in Upstream MLPs [view article]
      jjason,

      I suggest you read the 10Ks of your Canroy stocks very carefully. You will find that many of these companies are taking on debt to finance their distributions. Not a good thing!

      Also check out Morningstar's detailed reports on these stocks.
      Apr 11 01:20 PM
    • Outrageous Opportunities in Upstream MLPs [view article]
      Energy:
      If you look at the prices used for the PV-10 calculations of most of these companies, you'll find that they are significantly below the hedge prices. So, if anything, they underestimate the value. Not to mention that 10 is pretty generous discount rate, even in today's environment.

      While equity financing is clearly closed to these companies for now, debt is still available, as evidenced by debt-financed acquisitions by CEP and LINE made this year.       Apr 11 11:47 AM
    • ProShares Ultra and UltraShort Sector ETFs: Does 2 = 2? [view article]
      Bingo Ben! People get confused and think these funds will attempt to track 2X (or -2X) over the course of a year. In fact, their goal is to do it _every day_.

      Whether you realize it or not, a 2X fund is an implicit momentum play, since it reloads every day. It will always force you to buy a little more at higher prices and a little less at lower prices. If the market goes up and down a lot over a year and then ends the year unchanged, you will lose a lot of money!

      Apr 01 12:53 AM
    • Ten High Dividend Securities To Watch [view article]
      Taxation depends on the particular MLP. It tends to vary between 60% and 100% deferred taxation (via reduction in cost basis). Some MLPs who are in heavy investment phases (e.g. LINE) will have 100% deferral. Others, like TPP, are closer to 70%.

      Mar 03 12:20 PM
    • Ten High Dividend Securities To Watch [view article]
      Those are some excellent suggestions. Pipeline MLPs, such as EEP and TPP, tend to have very stable income with revenue guaranteed many years out. Some other to consider are OKS and EPD. Upstream (E&p) MLPs are slightly riskier, but offer excellent yields: LINE, CEP. Mar 03 09:06 AM
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