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Strategies & Market Trends : Value Investing
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To: E_K_S who wrote (50005)11/10/2012 3:50:54 PM
From: Spekulatius   of 78705
 
LINE/LNCO - the reason I wrote that I would not recommend LNCO because I neither like LINE nor LNCO. I would have liked to own the General Partner of LINE at the indicated yield because I expect LINE/LNCO to issue lot's of new shares in secondaries and GP's benefit from that.

LNCO/LINE yield is ~7.8% which is less than what I can get with some pipeline companies like ETP or BWP without much direct commodity exposure and very long life assets, so i see no reason to own an MLP with depleting assets (by it's nature) like LINE or LNCO.

I agree that LNCO relative to LINE looks OK.
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