MASTER LIMITED PARTNERSHIPS

Wednesday, November 12, 2008

You can only laugh out loud as Constellation Energy Partners (CEP) approaches a 50% yield! Atlas Pipeline (APL) is yielding over 30%.

Down over 420 before a few nibblers take it to minus 360. MLP index down nearly 11.

6 comments:

Anonymous said...: Intel warned.

It's likely we'll be testing the Oct. lows tommorrow.

HS; 11/12/2008 6:19 PM
Anonymous said...: A thought about human behavior in a newsworthy crisis.

The drama in October may have been so profound that it captured the attention of investors and consumers to the extent that normal patterns were disturbed.

When GM, Ford, and even the Japanese auto makers reported stunning declines ( in some cases of over 30%) in auto sales, that perhaps crystalized the drama induced spending "strike" by consumers.

I wonder as the drama fades, will consumer spending begin to improve?

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

I had a friend that relayed this story to me about the day JFK was shot.

He ran an ad agency that placed ads for builders selling homes on Long Island.

Weekly ( in 1963 ) they typically got 300-400 responders per weekend for their newspaper advertising. The weekend after JFK was shot they got 3 responders.

HS; 11/13/2008 9:07 AM
Anonymous said...: Whoa! I think all that bickering and name calling yesterday drove Joe away!

Lee
(Another Pollyanna... and proud of it); 11/13/2008 9:51 AM
Anonymous said...: Jeff Dorman
New issue activity in corporate bond market
11/13/2008 10:36 AM EST

Investment grade companies are slowly re-entering the bond market and so far the bonds have been bought with high demand. Phillip Morris (PM), AT&T (T), Duke Energy (DUK), Georgia Power (SO), Altria (MO), Verizon (VZ), etc have all issued bonds in the last two weeks. Time Warner (TWX) is currently marketing a benchmark offering, and I've spoken to a few investors who have indicated that there is a lot of demand for this issue. While investors are demanding a big new issue discount (new bonds are being offered with yields in excess of 100 bps higher than existing bonds), it is encouraging nonetheless that the markets are open. Most of the bonds issued in the past few weeks have traded up too. This is important because the success of these first few "trial" offerings will dictate how many other companies will be able to access the market.

Mr Pipes reporting from the bread line.; 11/13/2008 10:54 AM
Anonymous said...: I personally feel like the proverbial "blind man trying to describe an elephant" as I try to make sense of what has been happening in the markets. Especially as it relates to the MLP segment. As far as this blind man is concerned, none of the facts reconcile with the price action we have witnessed. A "portfolio dumping" driven market seems more consistant with whats going on rather than anything gleaned from management reports, anal-ist ruminations, or, personal analytical efforts.

Sooooo! In spite of the inelegance of some of the commentary, it is comforting to know I'm not the only one trying to make sense of whats going on. We are all trying to win here. So any constructive input, pro or con, re the MLP segment, or, particular companies is of value. I would be personally interested in any light that can be shed on the likes of MWE, CPNO and DPM.

Thanks to all who contribute.

SteveH; 11/13/2008 11:43 AM
Unknown said...: Im 'buying' with any spare money - if we are 'going down' I will 'go down' buying!; 11/13/2008 11:47 AM