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Ken Marinai

Ken Marinai
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  • Strong Demand Will Keep BreitBurn Afloat [View article]
    I love Breitburn here too. I am way long, but wish they would create an entity similar to what LINE with LNCO.
    That makes tax planning way easier. The majority of LNCO dist is classified as ROC, which, to me is a far better tax advantage than the MLP system.
    I own both in size. Like Bretiburn's coverage and LNCO's tax structure.
    thanks for the article.
    Nov 24 07:16 PM | Likes Like |Link to Comment
  • An Open Letter To Gary Evans, CEO Of Magnum Hunter Resources [View article]
    They would never sell the pipeline to retire a preferred. The IRR on the pipeline is higher than the interest rate on the preferreds.
    For that matter, the IRR on anything they do now is probably higher.

    I don't see them retiring even the C soon.

    He doesn't care about the bottom line right now, justNAV.
    Me either.
    Nov 12 11:03 PM | 1 Like Like |Link to Comment
  • An Open Letter To Gary Evans, CEO Of Magnum Hunter Resources [View article]
    "I speak for all shareholders by suggesting management should reduce or eliminate this significant interest rate risk via a partial or complete sale of Eureka Hunter in the near term." You should probably qualify that in some way eg "all the shareholders I know", or something like that. I, for one have to go along with Gary on this one, at least for now.

    It sounds like you like the job Gary has done, as have I. But your caveat seems to be "I like the job you are doing as long as you agree with me".

    I bet Gary and board thought long and hard about divesting the midstream and undoubtedly will one day, one way or another. At present they seem to be protecting their ability to take what they produce to market. They would lose some of that control if the sold the pipeline at the moment.

    Also, by adding compression and hence volume, I think the value continues to grow.

    I have trusted him to make the right decisions thus far and he seems to have done so. I will trust him on this issue now. Time will tell.
    Nov 12 04:50 PM | 3 Likes Like |Link to Comment
  • More on Berry Petroleum (BRY) (previous): The shareholder vote over the LINE, LNCO merger has not been cancelled (as appears on the NYSE site), but has instead been postponed until the SEC approves the proxy. [View news story]
    You are getting taken if Schwab is only paying your 12pc for LNCO. You should go to another brokerage where they do real fee splitting 50-50.
    Schwab is charging 90pc, that's ninety percent to lend your shares and giving you 12? They are making 78pc. At least IB gives you 45pc if they lend it. (today anyway)
    The disturbing part is that someone wants to borrow it that badly.
    One week ago there were 30,000 available to short and 800,000 LINE shares available. Today there are 0 (zero) of each.
    Last time that happened, it was not very much fun for us longs.
    Expect more BS this weekend or early next week.
    Buying Op. JMO
    Jun 28 05:52 PM | 2 Likes Like |Link to Comment
  • I Am Back [View instapost]
    Finally. Whew
    Jun 7 12:56 AM | Likes Like |Link to Comment
  • Of the €208.2B in non-performing loans Spanish banks have refinanced (in order to avoid recognizing them as NPLs), nearly half are treated as though they are not distressed, dubiously eliminating the need to take provisions against them, FT says. These banks have until September to reclassify restructured loans under tougher guidelines, a mandate that will likely necessitate fresh provisioning at some institutions. Between them, Santander (SAN), BBVA, and Caixabank (CAIXY.PK) had €76B in refinanced debt on their books at the end of last year. [View news story]
    This article is 2 days old. SAN is up during that period.
    May 17 11:58 PM | Likes Like |Link to Comment
  • AIG wins a legal battle, a federal appeals court ruling its $10B lawsuit against Bank of America (BAC) over mortgage losses belongs in state, not federal court. Filed in 2011, the case has been on hold while the venue is determined, but stems from what AIG claims were frauds and misrepresentations on $28B of MBS purchased from BofA, Merrill, and Countrywide. [View news story]
    Both BAC and AIG up 1.5pc today, so there's that. Didn't seem to matter.
    Apr 19 07:41 PM | Likes Like |Link to Comment
  • Short Investors Increasing Exposure To Transportation, Comms And Consumer Services [View article]
    What date was this short data as of?
    Apr 9 12:12 PM | Likes Like |Link to Comment
  • Which Stocks Could Be Most Hurt By The Crisis In Cyprus? [View article]
    I am very overweight AIG, BAC, and SAN and I spent the day adding to SAN. I could be early, but I know it will be higher in a few months, plus it pays 11.6 pc at this price.

    This will blow over. Everything does.

    Thanks for the article.
    Mar 26 11:01 PM | 1 Like Like |Link to Comment
  • Why I Bought Linn Energy In My Roth IRA [View article]
    So I bought and sold tons of LINE last year but never held it through a distribution. Made a good living doing it. I got my K1 and it shows a negative UBTI of over 100,000 dollars. How can this hurt me?
    Mar 26 04:48 PM | Likes Like |Link to Comment
  • A Newbie Active Investor Discusses His Portfolio [View article]
    Same family has been running Santander for 4 generations. Quite a committment.
    Mar 26 04:29 PM | Likes Like |Link to Comment
  • A Newbie Active Investor Discusses His Portfolio [View article]
    Guess that's why senior management voted themselves a 50pc pay cut at SAN?
    I predict it will be pretty tough to stay short SAN through the 11pc dividend based on today's price.
    You should probably read the transcript of the shareholder meeting.
    Just my opinion and Euromoney's too.
    Mar 23 08:51 PM | Likes Like |Link to Comment
  • Bank Of America Profits Point To Dividend Growth [View article]
    I only own the common right now, and quite a bit of that, but in answer to some questions about the warrants, I don't think it would be in BACs interest to buy back warrants when they sell at a premium like they do.

    However, for personal accounts and leverage, don't forget that if you are expecting large increases in the dividend, for everything they give in dividends above 1 penny a quarter, they lower the strike price of the warrants by a like amount. If you expect a nice dividend increase and are willing to make a long term committment, then the warrants may be worth consideration.
    This is a nice article. There are some parallels to AIG and SAN here too. Great job, thanks for sharing your DD.

    Mar 22 08:53 PM | 1 Like Like |Link to Comment
  • A Newbie Active Investor Discusses His Portfolio [View article]
    Mlp hindsight is a good place to start learning about and getting comfortable with mlps
    Sorry it took so long to answer

    Mar 21 10:59 PM | Likes Like |Link to Comment
  • A Newbie Active Investor Discusses His Portfolio [View article]
    I love your picks. I am way log AIG and BAC (my Berkowitz clone trades) and longer still SAN. I have a lot of MLP and stuff but when the interest rates start going up, AIG and the Banks will save me from losing money cause they will go up more than my MLPs go down.
    Anyway great picks keep posting please.
    Mar 19 09:16 AM | Likes Like |Link to Comment