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Donald Smith

Donald Smith
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  • Even as rising interest rates and lower oil and natural gas prices impact valuations across the MLP sector, Deutsche Bank continues to view the sector favorably because of its organic growth, rising dividends and distributions, and still historically low costs of capital. The firm's latest report points to still attractive fundamentals for its top MLPs to buy: EPD, KMP, PAA, WES, ACMP, RRMS[View news story]
    I just trimmed back both ETP and EPD, which I had held for several years, as both had doubled in value.... I have noticed that both are subject to the 'shoulder season' to some degree, as I watched my gains get eaten away during the summer months. I think the peak for both has been reached for now and can be bought back later in the season at a discount. I have to consider the tax consequences of selling MLPs, but for now it seems like the thing to do.
    May 31, 2013. 01:59 PM | 1 Like Like |Link to Comment
  • Silver: Is This The 'Last' Decline? [View article]
    Cwalt, I was looking at First Majestic too, but probably not tomorrow.
    May 19, 2013. 08:43 PM | Likes Like |Link to Comment
  • Jim Cramer chooses MLPs Kinder Morgan Partners (KMP) and Enterprise Products Partners (EPD) as antidotes to potential froth in the broader stock market. Cramer likes KMP's strategic acquisitions during recent years and is bullish on its outlook. On EPD, Cramer praises the management team and likes its track record of executing growth projects and integrating acquisitions. [View news story]
    I was just wondering if it wasn't time to take some profits in EPD, them in the low $30's...seems like the shoulder season is fairly predictable, but this extended run keeps going for now. My idea is to sell two-thirds of the position, and buy it back in the fall. I believe this rally is running on fumes anyway....thoughts?
    May 17, 2013. 01:46 PM | Likes Like |Link to Comment
  • Humpty-Dumpty: The Year The Markets Never Came Down [View article]
    Mr. Kodesh, thank you for this article! Your wit and turn of phrase make your writing a joy to read, along with the historical perspectives and economic writings you cite. I think this rally is stretched a little thin, esp. for some of the MLP's (EPD, ETP) I've owned for years. I believe I should trim them back before they fall, due to shoulder seasonality or an outright pullback and look to the beaten down mining and PM sectors. I especially appreciate your admonition re: SLV, as I am long that to augment the decline in value of bars.... I eagerly await your next piece.
    May 16, 2013. 03:39 PM | 1 Like Like |Link to Comment
  • The Good News, The Bad News And What's Very Ugly [View article]
    Rich, I do not believe that the government lies about inflation, they just redefine the parameters. Sort of like changing the facts to fit the situation. I agree with you in principle, though!
    It is time to bring some common sense back to the national conversation, or maybe we're too far through the looking glass for that anymore.
    May 10, 2013. 09:35 PM | 2 Likes Like |Link to Comment
  • U.S. Mint Sales For April: Most Gold Sold In Mint History [View article]
    I am curious about whether to dump SLV and move into PSLV, I hear so much conflicting information, especially about market manipulation. I currently hold physical, but like to trade the paper. I have also noticed the premium on 100 oz good delivery bars, which is about what I paid last summer. I can only attribute that to the scarcity. I would greatly appreciate your opinion --paper at a discount, or pay up and take delivery at this juncture. I want to believe that the paper issues are going to take off again....
    May 7, 2013. 08:18 AM | Likes Like |Link to Comment