Friday, September 12, 2008
Here's something interesting. Jack Berujian (spelling issues) and Rick Santelli on CNBC have been talking about the ECB. Ever since the ECB announced some technical changes there has been steady European hedgefund selling that has occured every day since and that pressure comes off when the European markets close. Is it possible that mlps have been a big chunk of European portfolios (and Europeans love yield...they get to sit and collect money) have MLPS in them and they are jettisoning them at whatever price they can get?
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joseph cioffi's Source Page - Associated Content
2 comments:
Joe,
I doubt that many non-US investors own MLPs due to FIRPTA, which is the Foreign Investment in Real Property Tax Act. This would require a non-US resident to have to file a US tax return.
Mr. Pipes
Non US Hedge funds might be selling because of this:
By Finfacts Team
Sep 11, 2008 - 7:31:50 AM
"US Senate report charges that some of Wall Street's biggest firms helped foreign hedge-fund investors evade taxes; $100 billion a year lost to offshore tax abuses."
http://www.finfacts.ie/irishfinancenews/article_1014687.shtml
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