MASTER LIMITED PARTNERSHIPS

Tuesday, January 08, 2008

After that last hour implosion and breakdown of the stock market it was rather amazing that we held on to a gain today at all. But we did. And at least for today MLPS behaved like other defensive stocks. They went up. So maybe...just maybe...we will see money flowing out of everything else and flowing back into our group...because we've got yield.

No news after hours but i will point out that one insider of Nustar (NS) is buying stock with both hands. He is also buying Nustar Holdings (NSH) with both hands.

5 comments:

Anonymous said...: It was a brutal day for the DOW, S+P, and Nasdaq.

BTW: Bill Greehey is no ordinary insider. Greehey built Valero (VLO) from a small refiner into a company with a market cap of 34 billion doilars ( plus NSH + NS have a combined market cap of 4 billion ).

Link to Greehey article:

http://sanantonio.bizjournals.com/sanantonio/stories/2007/06/25/story4.html?page=1

Excerpt from article:

"After more than 40 years as a top gun with San Antonio-based Valero Energy Corp., Greehey has taken over the reins of NuStar Energy LP, formerly Valero LP, and embarked on an aggressive growth plan for the liquid petroleum pipeline and storage company.

"It's like a baby we are raising," says Greehey, now director and chairman of NuStar Energy. "I put my heart and soul into Valero for 40-something years and now I am excited about the new company."

Greehey says he plans to see his new company's growth mirror the track record he established at Valero Energy. That growth plan includes expanding the company's current pipelines and terminals and, of course, acquisitions.

"We are not going to be happy just growing the company internally," Greehey says. "We are going to be very aggressive." "

JF50; 1/08/2008 8:29 PM
joewxman said...: Greehey has a great track record...no doubt. And he puts his money where his mouth is.; 1/08/2008 8:40 PM
Anonymous said...: Many employees at Valero have followed Bill Greehey with their investing dollars and have invested heavily in NS and NSH. We have great faith in our Ex CEO and think that he will work miracles there. We also know that he is not a BS'er and really does put his money where his mouth is.; 1/08/2008 10:08 PM
Anonymous said...: Can someone please explain the relationship between NS and NSH?; 1/09/2008 7:31 AM
Anonymous said...: NSH is NS's GP.

NSH has a 2% GP cut + 23% incentive cut ( already maxed out ) and enough NS ( 10,215,035 )shares so that each share of NSH ( currently 42,500,581 diluted shares ) has .24 shares of NS "embedded" into each NSH share.

JF50

http://biz.yahoo.com/e/070228/nsh10-k.html; 1/09/2008 10:00 AM