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Strategies & Market Trends : ajtj's Post-Lobotomy Market Charts and Thoughts
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To: chip who wrote (69347)9/14/2022 4:48:39 PM
From: Lee Lichterman III2 Recommendations

Recommended By
ajtj99
Sun Tzu

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You need to be careful buying the pipeline stocks (midstreams). Some are regular stocks but many of them are MLPs. The K-1 forms at tax time can be a pain.
I bought a bunch of them when oil collapsed in 2020 I think it was. Some had K-1s where the blocks didn't match up with the tax software. They also break out some of the dividend as return of capital so your buy price is dropping and their reported amount didn't match what I had. I am expecting to get audited down the road since what I put down didn't match what was on the form.
I only play the ones now that are regular stocks or MLPX which takes care of all that.
As for tankers, they are an art form of their own. I used to play them a lot but haven't recently so I'm behind on who's good and who isn't. I took a lot of abuse trying to warn people when they were hot a few years ago and so just sat back and watched them get creamed. You have to dig in and see who has what percentage of contract prices vs spot price. Age of the fleet since they are depleting assets like oil fields etc. Size matters since small tankers can go through canals like NAT has vs the big tankers having to go around the long way.
There's probably more I'm forgetting but those are the biggies.
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