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  • It sounds like master limited partnerships will be safe from budget tinkering, as the Obama administration yesterday called on Congress to approve legislation that would let investors utilize MLPs for renewable energy. The mechanism is now available only to coal, gas and oil projects, and has been instrumental in funding U.S. pipeline construction. [View news story]
    In my opinion, it is less likely that they will mess around with the MLP structure given this development. I view it in a positive light.

    Of course, Obama does like to pick the winners & losers, so as CC0 says we can't know with certainty.
    Dec 21 12:45 PM | Likes Like |Link to Comment
  • Kiss Goodbye To The Hidden Risk Of Stock Picking [View article]
    Here is how Fortune's "Buy and Forget Portfolio: 10 Stocks to Last the Decade" played out:

    So apparently it wasn't all that easy for Fortune Magazine's professionals to pick stocks to do well over a 10-year period. A random selection of 10 stocks surely would have done better in this specific case.
    Dec 20 01:19 PM | Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    Whether people walk away doesn't matter. The important thing is debt service. I know some of these units were purchased to rent out, so if there are no renters how can payments be made? So you have people buying units on speculation and using credit with the idea that the units can be rented. If they cannot be rented, the payments cannot be made.

    If the WMPs are also using high leverage (very probable imo), then all it takes is a small ripple to cause a major upset.
    Dec 20 08:27 AM | 2 Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    Those "Wealth Management Products" sound very similar to the high leverage CDSs, CDOs & other financial products that led to the liquidity crisis in the U.S., which in turn caused a global liquidity crisis as much of that garbage paper was held internationally.

    Are "liar loans" being generated in China to provide fuel for the WMPs? Is the debt that forms the basis for the WMPs being serviced? When things are highly leveraged, a little problem becomes a big problem very quickly. Just ask the geniuses who ran LTCM.
    Dec 19 09:38 AM | 4 Likes Like |Link to Comment
  • Ellington Financial: The Best Mortgage 'REIT' At A Healthy Discount To Book Value [View article]
    LTCM had two Nobel laureates as well. Didn't serve them well in the end.
    Dec 18 12:31 PM | Likes Like |Link to Comment
  • Instagram (FB) triggers a backlash by announcing it will have the right (effective Jan. 16) to sell access to photos and user information for use in ads without notification. Facebook had already signaled it plans to monetize Instagram, but few expected big privacy policy changes. The mobile photo-sharing platform had already upset users this month by ending Twitter integration. Henry Blodget: "The truth about Instagram's horrifying new terms of service: No one will care." [View news story]
    That is almost unbelievable. So people who use this service can now find their images used for advertising purposes without their knowledge and maybe for something that they don't support.
    Dec 18 10:55 AM | Likes Like |Link to Comment
  • The Selling In PIMCO's High Income Fund Continues [View article]
    Thanks for the information.
    Dec 17 09:07 AM | Likes Like |Link to Comment
  • The Selling In PIMCO's High Income Fund Continues [View article]
    Where can I get margin financing at 1%? I would be interested in that.
    Dec 17 08:57 AM | Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    Its hard to believe $CLWR was over $30 in 2007. Now going away at just $2.90.
    Dec 13 08:14 AM | 2 Likes Like |Link to Comment
  • Freeport McMoRan: Questionable Acquisition's Risks Outweigh Reward Potential [View article]
    I think the author got this right: "the conflicts of interest within the board of directors and management teams of these companies, might have clouded some more attractive assets that could have been purchased more cheaply."

    A little back room deal between good ol' boys, in my opinion.
    Dec 12 08:11 PM | 1 Like Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    Originally Hong Kong-Singapore Bank Corporation. It is a large bank (89 million customers in 85 countries) with headquarters in the U.K. Now they are just HSBC.
    Dec 12 09:56 AM | 2 Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    So WSJ is now the only investigative arm of the SEC? It would appear so. Especially since the SEC has a history of ignoring investigative reports from other quarters (Madoff was written about long before his scheme collapsed for example).

    There have been a number of suspicious events over the last several years in terms of high volumes of options sales right before major announcements. Those couldn't have all been from members of Congress (who were exempt from SEC regs regarding trading on insider information until this year when they were finally shamed into changing the law). What is going on is obvious to most, except the paid professionals at the SEC.
    Dec 11 08:36 AM | 5 Likes Like |Link to Comment
  • Cullen Roche's three bearish signs in a sea of negativity: U.S. rail traffic is grinding to a halt; U.S. manufacturers' new orders have turned sharply negative; and Suez Canal traffic is turning negative. (But things could be worse: three bullish signs.) [View news story]
    No worries:
    Dec 8 10:58 AM | 1 Like Like |Link to Comment
  • 10 MLPs With Impressive Dividend Yields [View article]
    UBTI is unrelated business taxable income. It is a line item on the K-1 form. Sometimes its a negative number.
    Dec 4 10:19 AM | Likes Like |Link to Comment
  • Will Solazyme Be The Next Big Thing? [View article]
    Ethanol is not gone. Ethanol is required in various gasoline blends in the USA. Production is still increasing:
    Dec 3 05:07 PM | Likes Like |Link to Comment