Subscribe to:
Post Comments (Atom)
adbrite ads
mystic monk coffee
investment strategy tips
joseph cioffi's Source Page - Associated Content
http://www.associatedcontent.comuser/505733/joseph_cioffi.html
joseph cioffi's Source Page - Associated Contenthttp://www.associatedcontent.comuser/505733/joseph_cioffi.html
About Me
- joewxman
- a meteorologist with a knack for trading and investing in MLPS! I also like horse racing, enjoy cigars and a good port wine.
FEEDS AND OTHER BLOGS
seal of approval
OTHER INFORMATION
OTHER INFORMATION
3 comments:
I think most of us who visit the blog think you should comment on the fact that there may be a tax change that may effect mlps if the democrats gain the white house.
this may be part of the reason if not most of the reason for this big correct in the group
Lou,
That has to be one of the most far-fetched reasons I've EVER heard. The MLP index, per Joe's excellent tracking especially during the last couple of months shows a tremendous appreciation in value. As Joe told me earlier in the day "we're always the last group to be sold in a big sell-off...and they finally got around to this group" which makes all the sense in the world to me.
As to whether the Dems get around to successfully fight the oil & gas lobby and enact a tax change for MLPs remains to be seen. A few hurdles in the way at least in my view.
Carlos
lou,
First off the tax change as written does not effect MLPs in our group but was written specifically for the blackstones of the world. Mr Schumer is a schrewd man. He knows that wall street is against this tax change and by suggesting that all mlps be taxed this way he is effectivly killing the proposal. Changing the tax structure for MLPS in the oil and gas industry will bring every congressman from those states screaming against this proposal.
Actually the biggest losers today were Oneok LP on an earnings disappointment and Energy Transfer Partners and Energy Transfer Equity as they deal with the FERC issue. Those had a big impact on the mlp index. The other big losers were among some of the bigger winners this year like Duke Midstream (DPM) Natural Resource Partners (NRP) among others.
Post a Comment