MASTER LIMITED PARTNERSHIPS

Thursday, October 09, 2008

I spent the day in church. It was confirmation and i sing in the church choir so i got to miss the 675 point disaster that evolved. A number of companies after the close made announcements. Oneok (OKS) increases the distribution to 1.08. Teppco is increasing their distribution. Magellan (MMP) affirms outlook and anticipates a distribution increase. Losses in MLPS today down 7.98 on the day which is better than what the overall market did. And take a look at the destruction in the big energy stocks today.Exxon (XOM) was down 9 dollars!

Here is the good news. At the current rate the dow jones industrials will be at zero in 15 trading days. And at that point it will be a buy!

Hey kids, at least we'll get distribution checks a month from now!

4 comments:

Anonymous said...: Will the last guy out the door please turn off the lights?

Lee; 10/09/2008 6:54 PM
Anonymous said...: I'm a Republican, but the team of Bush, Bernanke, and Paulson have been less than stellar in this crisis. Maybe Bush will say that the treasury will guarantee interbank transactions tommorrow (to last until the tarp plan goes into effect). Maybe that will help.

Some may be offended by this poor attempt at levity but, this whole situation reminds me of the Stewardess joke: With Bush being the Stewardess, Paulson the Pilot, Bernanke the Co-Pilot, and the American people being the passangers.

Bush ( The stewardess ) somberly
announces to the passengers (the American People ) after checking on the pilot and copilot.

"I've got some good news for y'all and some bad news.... which one d' ya want to hear first?"

American people: "Give us the Bad news first."

Bush: "Ok but brace yourself...

The Pilot and Co-Pilot are in a coma, there was an electrical short ( credit crisis ) that has caused all the instruments to malfunction... except the fuel guages which are reading near empty, we're lost, the plane is flying over the ocean 1000 miles from the nearest airport and nobody knows how to fly the plane."

The American people ( frantically ):

"What's the bad news"

Bush ( trying to avoid anything that might cause a panic):

"Y'all be pleased to know...we're making record time".

HS; 10/09/2008 7:22 PM
Anonymous said...: Darn, The last part should read:

--------------------------------

The American people ( frantically ):

"What's the good news"

Bush ( trying to avoid anything that might cause a panic):

"Y'all be pleased to know...we're making record time".; 10/09/2008 7:28 PM
Anonymous said...: "Here is the good news. At the current rate the dow jones industrials will be at zero in 15 trading days"

Does that mean I won't get my November distributions?; 10/09/2008 9:48 PM