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joseph cioffi's Source Page - Associated Content
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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.
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7 comments:
Joe,
I multiple virus threat warnings when I logged onto your blog this morning. I've never had any problems from your site before. Anyone else get a warning with today's blog?
"That maybe Einstein, but they haven't lost 30%+ like alot of MLP's have. If you are so smart how did you fail to realize that? Get a life loser."
First off, it's "may be", not maybe. Lets learn how to properly speak first.
Second off, you have absolutely no idea what you're talking about. MLPs are trading down to due technical issues. I, on the other hand, buy and sell based on fundamentals. Were there signs that there wasn't enough demand to support the large backlog of projects within the space? Yes
But to say that MLPs are comparable to JUNK bonds is just idiotic and illustrates the fact that you have no idea what you're talking about. First off, as the growth aspect becomes a larger piece of valuation, MLPs become less of a fixed income investment.
Anyone comparing an MLP to a pure fixed income investment clearly does not understand the asset class. Especially amusing is the fact that you support this claim becuase some sell-side analyst showed the correlation between yield spreads and MLP performance. First off, anyone who goes straight off of what the sell-side publishes isn't the sharpest tool in the shed as is. The fact that there is only two and a half years of data to make this analysis should send bells going off in your head. CORRELATION DOES NOT IMPLY CAUSATION.
If we're risking our a large portion on our wealth in investments, as retail investors it is our job to think for ourselves every now and then.
Just my two cents.
i had the same problem..sorry..i'm checking to see what the issue is. I think it has to do with my advertiser service. let me know if the problem continues.
some recent earnings :
MMP Reports $0.75 vs. $0.64 in Q4-06 PRNewswire 2-05
Magellan Midstream Partners reported Q4-07 operating profit of
$84.8 million represented a 20% increase compared to $70.4 million for
Q4-06. Net income grew to $72.2 million [$0.75/unit], which is a 28%
increase over the $56.5 million [$0.64/unit] reported for Q4-06.
Diluted net income per limited partner unit was 74 cents, or 16%
higher than the 64 cents reported for Q4-06. Diluted net income per
limited partner unit also increased 16% for the full year, growing to
$2.60 in 2007 from $2.24 for 2006. Distributable cash flow grew 21% to
a record $86.3 million from $71.3 million for Q4-06. Distributable
cash flow for the full year grew 16%, increasing to $298.1 million in
2007 from $257.7 million in 2006. Management expects to extend its
seven-year history of cash distribution growth and is targeting
distribution growth of 8% to 10% again in 2008.
SEP Reports CAD of $0.30/unit PRNewswire 2-07
Spectra Energy Partners reported Q4-07 net income of $22.4
million [$0.33/unit] compared with $16.7 million for Q4-06. SEP
reported Cash Available for Distribution of $20.6 million [$0.30/unit]
for the quarter. For the first two quarters of operations since SEP's
initial public offering, Cash Available for Distribution totaled $57.7
million [$0.85/unit] while its distributions - including the one
declared on Jan. 24, 2008 - total $0.62/unit. SEP's net income of
$22.4 million consists of Operating Income of $12.7 million; $5.1
million equity earnings from its 24.5% interest in the Gulfstream
Natural Gas System; $9 million in equity earnings from its 50%
interest in Market Hub Partners Holding; minus $6.3 million in
interest expenses partially offest by $2.7 million in interest income.
I agree with one of the comments above that the selling is due to "technical issues" rather than anything fundamental.
Well, the "techical" issues persist again this morning as we continue to sell off.
-- Well, the "techical" issues persist again this morning as we continue to sell off. --
...actually it's up, you're just wishin' and hopin'.
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