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Politics : High Tolerance Plasticity -- Ignore unavailable to you. Want to Upgrade?

To: jim_p who wrote (227)	2/27/2001 10:21:36 AM
From: Telemarker	Respond to of 23153

Hi jim_p. Sorry it's taken some time for me to get back to you. <<If you had to pick 5 from your list to invest in, which would be your top 5 picks?>> That's a really tough, albeit fair, question to ask of a basket sector investor such as myself. There are alot of considerations that come into play, which I won't get into unless someone expresses some interest in those concepts. First, let me note that EPL should not have been included in my MLP list (they are a garden-variety oil-heavy E&P in MLP form), and that I intended to include EPD. Also, a discussion of MLP, REIT and RIC tax attributes may be helpful to some here - if there is any interest. My five: HR, HCP, KMP, ARLP and ACAS. ACAS (a regulated investment company - always partial to non-taxable entities <g>) wasn't on my original list. It is a widely diversified mezzanine finance company, and as such represents my attempt to further diversify within your "top 5" parameters. Also deserving a look is ALLC (another RIC) which is more conservative and less growth oriented than ACAS. If one preferred to avoid financial entities, I'd substitute TGS for ACAS. I note that KMP is very expensive (close to 14X cash flow) compared to its peers. I choose them in the "top 5" format due to their size, internal diversification and unequaled track record of growth in this subsector. A better value alternative would be NBP. Best buying points are on sharp pullbacks within the established uptrends, and upon the announcement of privately placed slightly-below market secondaries. These do happen with some regularity, and if energy infrastructure buildout accelerates may happen more frequently with the MLPs. <<With yields continuing to fall, there is also a good chance for capital appreciation. I do believe rates will end up going a lot lower than the market has factored in already.>> It's my view that we should all be reconsidering the liklihood of making a living from capital gains as has been the case in the past. Bill Gross' "New Age Crosswords" article worth a read, and can be linked from the following page (link not working right now): pimcofunds.com I think that this may have already been posted. The scattergram in this article tells all, IMO. Skiing has been great this year in SW Colorado. Wolf Creek Ski area has received well over 300 inches this season, and their base at the top is now 123 inches. wolfcreekski.com So, snow bases should be more than adequate well into the spring, and the river rats should be partying as well. I'll warn, however, that our weather patterns are somewhat different than that of more Eastern and Northern parts of Colorado, and that Wolf Creek ALWAYS gets the most snow in the state. For my part, I'm almost exclusively a backcountry skier. Do you do backcountry?? On another much less important matter, the thing that I always found funny about iso was the childish enthusiasm (and attendant cheerleading) displayed when one of his stocks advanced in price. Made me think that it didn't happen very often. Thanks for your ongoing contributions here. Regards TM