Early Retirement Extreme Forums

jennypenny wrote:Anyone bottom fishing yet?

Not sure my line is that long.

High yield cefs are starting to get interesting. The Third Avenue closure and Carl Ichan 'not wanting to throw fuel' on the fire as he throws fuel on the fire may add to the negative momentum (He is really entertaining). Oaktree has also said it ready to start catching 'falling knives' and that “We’re in the later stages of this credit cycle. We saw the psychology beginning to really roll over and change and people starting to get fearful. We started to see a lot of cracks.”. I will start the movement to place some limit orders at much lower prices in case we get a real selloff or some bigger fear buildup.

I bought some Kinder Morgan after the big fall. I actually like the dividend cut. It gives them the ability to fix the balance sheet and go after acquisitions with less reliance on the capital markets.

I also added to Vanguard's energy fund in my 401k and bought a little UWTI to trade at the close on Friday.

I'm probably going to add to my position in COP and look at some other potential oil investments.

jennypenny wrote:Anyone bottom fishing yet?

Well, I'd say my year end bonus arrived at the right time. Will be adding to a handful this month.

Now that the new residence is better organized (er, unpacking after moving), I finally got around to grading my potential buys and following lead the list:
LTC
VZ

IBM was a potential candidate until you look at 5 years of declining revenue with stock buybacks propping up earnings per share.
ARLP might be a short-term gamble worth taking.
WPC is tempting if you believe their revenue stagnation is short-lived in the global downturn.

DLR is possibly a sell. I need to look more closely, but I suspect it is time to cut back.
CLX is definitely overpriced and GE is likely overpriced.

I am looking for a large, relatively stable MLP with a decent yield and that has been beaten down over the past year, with the idea of holding it for several years. Any recommendations?

MLPs have bounced a bit off the bottom, so the deals aren't as good. On my current watch list ...

CNNX
WES
DCM
CPPL
SEP
MMP
TEP

They are in the order I'd currently buy them. The ones at the bottom are solid but aren't discounted like some of the others because of that. TEP just upped their div.

This isn't my bailiwick. Hopefully, GTOO will chime in.

I think we're 6-8 months away from any change with the MLPs. M&A activity has left me unsure of who went where!

What MLPs are you holding currently?

My Little Pony?

Edit: I had to go through three pages of Google results to get anything different for an explanation:)

LOL ... you didn't end up on any my little pony fetish websites, did you?? I had no idea that was a 'thing' until DD explained it to me.

Hey now, that show is pretty decent given the current selection of cartoons. I'd let my kids watch it and actually enjoy it with them. I am in no way a 'bro-ny', however.

https://www.youtube.com/watch?v=ohnuyqJyEW0

I watched the documentary on Netflix and had NO IDEA.

Dragline wrote:What MLPs are you holding currently?

Just a little WPZ that didn't get sold months ago in my cleansing. It's a small enough amount that I'm willing to gamble long-term.

Yeah, that one looks pretty stable to me. I was essentially looking for the equivalent of O in the MLP space.

Dragline wrote:Yeah, that one looks pretty stable to me. I was essentially looking for the equivalent of O in the MLP space.

That would be MMP.

Not of much use in this particular case but you can put minus sign in front of a word if you don't want pages containing that word in search results.

Example: MLP -pony +investment

Btw I still don't know what MLP stands for but I think I must be on a pedophile watchlist by now.

Also doesn't hurt to keep in mind Rules of the Internet, Rule 34: If it exists, there is porn of it – no exceptions.

Edit: "Master Limited Partnership"

Added some Apple. PE less than 11? Come on.

Chad wrote:PE less than 11? Come on.

I looked at GS for the same reason.

GS is also on my radar, as something to buy and hold for at least a year or two (which means it will probably do terrible at least this year).