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Non-Tech : Is Terra Nitrogen Co. L.P. a good buy? (TNH)
TNH 83.960.0%Apr 2 5:00 PM EST
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To: Terry Lyon who wrote (81)3/2/1998 3:02:00 AM
From: Stephen D. Wilson   of 91
 
I believe that TNH is an excellent income stock at the current prices. It was even better when it was at $24. I have been following this stock off and on since it was at $42. My broker told me that he doesn't particularly care for LP stocks because the controlling partners can often manipulate the stock price for their own benefits. So what 's the difference between that and a CEO with a board of directors that hold majority shares in a corp. I like the stock and plan to hold it as long as they continue paying out good dividends. I think some of the "El Nino" syndrome has had a bad effect on the investment community who tend to look at sectors more often than individual companies.

If they began decreasing their payout then I may bail but I'm not going to let 1 or 2 bad quarters effect my long term position. The way I see it fertilizer is going to continue to be needed by this overpopulating world just to feed itself. Also, even if this stock were paying out, at current valuation, a dividend that figures out to 12.5% ROI I could could buy heavy on margin, paying 9%, and still make more in dividends than some of the Blue Chips. Not that I would advise using the margin account as part of your strategy. I also take into consideration that with the stock having been in the 40's, there is a good upside for capital appreciation.

There is a BB string on TNH in the Yahoo Finance. There is some really excellent info on what has been going on. If you get to it you'll find that several investors don't like the management at TNH. I figure as long as they make money and pass it down to me that's all that counts.

Steve
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