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  • Half Of U.S. Income Is Over $125,000 Per Year  [View article]
    Totally agree Jason. I was just offering different questions to counter the loaded one put forth by rod_s.

    And, while I skew to more freedom personally our political system frequently allows some people telling others what to do. Simple emotion driven slogans usually form their motive. I was just offering a counter to that. I was afraid my method would be too nuanced to be understood and seems I was right.
    Feb 9, 2016. 02:37 PM | 1 Like Like |Link to Comment
  • Half Of U.S. Income Is Over $125,000 Per Year  [View article]
    Okay rod_s, I will probably regret this but if we are going to ask questions about what is more socially beneficial let's try some other questions too:

    Is it more socially beneficial to transfer an extra dollar to a US person's hand or to someone living in abject poverty in, say, rural India?

    Is it more socially beneficial to have concentrated sums of money deployed by people like Elon Musk, Jeff Bezos, or Bill Gates (thinking of his innovative charitable works) or to take that wealth and spread it in little bits across a wide audience?

    The first question goes to income inequality just not on national boundaries.

    The second question wonders what beneficial innovations we might lose without people willing to take risk with large amounts of capital. Of course there are many other examples, just using these 3 well known names.
    Feb 8, 2016. 11:26 PM | 1 Like Like |Link to Comment
  • Huge Income Opportunity With Eaton  [View article]
    RAS - Correct re: tax-sheltered
    Jan 24, 2016. 06:48 PM | 1 Like Like |Link to Comment
  • Huge Income Opportunity With Eaton  [View article]
    Warning to US taxable investors: The dividend is classified as a return of capital. This is due to arcane US tax law in relation to their acquisition of Cooper. See:

    I prefer to pay taxes on dividends as I receive them and so view this as a disadvantage. When I assess the amount of the dividend I reduce it to account for my increased tax liability due to my continuing cost basis reduction.
    Jan 24, 2016. 10:31 AM | 2 Likes Like |Link to Comment
  • How Low Can Oil And The Markets Go?  [View article]
    Jason, if a foreign-make vehicle is made in the US does that still count as an import?
    Jan 16, 2016. 01:23 PM | Likes Like |Link to Comment
  • U.S. Personal Income Runs $15.6 Trillion Per Year  [View article]
    Fascinating. I really appreciate the education.
    Jan 11, 2016. 02:10 PM | 3 Likes Like |Link to Comment
  • Crescent Point Energy Announces A 2016 Capex Cut, But Should Suspend Its Dividend  [View article]
    pencilit: see PBI. Dividend cut in half Apr 2013. Price:
    Jan 10, 2016. 12:45 PM | Likes Like |Link to Comment
  • Automating Alpha: Getting Started With Stock Market Functions (SMF) Add-In For Excel  [View instapost]
    gponym: Your link is for the Yahoo group for the SMF add-in but since this article was published the author of the add-in has since created his own website which is:

    This website contains links for the group at Yahoo and another group that he runs at Google. The software and documentation are better organized on this newer website.
    Jan 6, 2016. 12:07 AM | Likes Like |Link to Comment
  • Kinder Morgan: What Should I Do?  [View article]
    Well, it's all good and fine to try to make something simple. But, to play devil's advocate here - KM's businesses were successful for 18 years using their capital funding and distribution strategy and made investors a lot of money over that time. This year the underlying commodities experienced a 3 standard deviation drop in price which has, no surprise, had dramatic affects across the sector. Yes, the most leveraged players are hardest hit - as happens.

    Personally, I withdrew 75% more total capital out of my investments in KMI and KMR than I ever put in. But, I started an outsized position back in 2009 and tapered down the last several years (did the same with a few other MLPs). I would have done better to sell my last small block sooner than I did but even still I have no complaints.

    I think the take away is if you invest in highly leveraged companies you have to be more vigilant to disruptions as they can magnify quickly. And, for them, you should pay more attention to stock price moves as indicators of upcoming trouble. I think some retail investors didn't appreciate the leverage and focused on the "toll booth" story. Lessons to be learned for sure.
    Dec 11, 2015. 12:28 PM | 3 Likes Like |Link to Comment
  • What If Fed's Forecasts For Inflation Are Wrong?  [View article]
    Jason, rather than the Fed not realizing their parking brake is on is it possible that this is precisely how they plan to deal with the next downturn? That is, since they can't lean against the trends with reserves they can lean using capital ratios. They can keep a tight constraint now when they are seeing at least some modest growth and reduce them as downturns approach.

    Is this possibly what Yellen refers to when saying they will need to use new policy levers to act in the future to achieve their mandate?
    Dec 11, 2015. 12:02 PM | Likes Like |Link to Comment
  • Kinder Morgan: What Should I Do?  [View article]
    Purely from a balance sheet perspective KM doesn't "own" much - the bond holders do. Their property, plant, and equipment figure pretty much equals the amount of long term debt.

    What does that leave the common share holders? Goodwill of $25B and some other scraps. Still think "value" investors will be excited by that offering?
    Dec 9, 2015. 12:13 AM | 2 Likes Like |Link to Comment
  • Kinder Morgan Will Not Cut Its Dividend  [View article]
    Apparently their CapEx isn't so discretionary. They just announced a 75% cut to their dividend so they can use that cash for CapEx.


    Also now being reported on WSJ and Bloomberg.

    KM is having a conference call tomorrow. Details here:
    Dec 8, 2015. 05:06 PM | 1 Like Like |Link to Comment
  • Kinder Morgan's Death Spiral Puts The Unthinkable Squarely On The Table  [View article]
    KMI just announced a roughly 75% cut in the dividend. See:
    Dec 8, 2015. 04:45 PM | 1 Like Like |Link to Comment
  • Kinder Morgan: What Should I Do?  [View article]
    I just received an alert through a subscription news service that said KM announced the dividend to be cut to 0.125 per quarter effective with first 2016 dividend. That's roughly a 75% cut. After hours pricing shows KMI now down to 14.80 (another 6% down after todays 4+% down)


    KM is having a conference call tomorrow. Details here:
    Dec 8, 2015. 04:41 PM | 6 Likes Like |Link to Comment
  • Today's Opportunity: Kinder Morgan  [View article]
    Are you sure the presentation you saw was for tomorrow's (Dec 8) presentation? The most recent one on their site right now is from Nov 18 and titled the RBC MLP Conference.

    All your figures are in the Nov 18 presentation. Given that just Friday they said they would announce their capital plans in the next days I doubt it would be completely unchanged from Nov 18.

    See their material list here:
    Dec 7, 2015. 07:10 PM | 2 Likes Like |Link to Comment