I couldn't agree with you more. Momentum is certainly on the side of the gloomsters but then, isn't that how it works with the short side? Those putting down ownership of NGL are in the business of shooting down hopes and dreams in order to push their own agenda.
Something that hasn't appeared yet, at least to my knowledge, that is..... Former officers and Directors of ALDW are being replaced by Delek heads.
This ought to be reassuring to some of those who feared that Delek might pull a fast one as happened with NTI when WRN took over as General Partner and NTI was swallowed up in the process.
My view has been that Delek is not our threat and hasn't been.
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Back to NGL---the threat I see is at the hands of those reluctant to think for themselves. Today presented the most awesome of opportunities for those with the guts to stay true to their convictions.
Today's closing numbers are unquestionably painful for those with large positions. I've got 17,363 units of NGL with a cost basis of $13.24. It shows a loss on the books of almost $60,000. Only a few times have I ever had to accept a loss of this magnitude, however brief the holding period may be. At the same time, though, I'm beautifully positioned to make out like a bandit as we go forward.
I stand to receive $27,000 per year from my NGL investment alone via distributions. That's a yield of slightly better than 16% and was assured in this morning's conference call. There's no way the company will backtrack on this as it would surely bring on a zillion lawsuits. So they've got to be dead certain things will unfold as planned.
Yahoo! shows the analysts' consensus target average at $17. This is not the quoted high expectation, only the middle average. For me, if and when we hit that number, I'll be enriched by $125,000. I can wait as I'm expecting better results than even that.
Nobody ever said investing was going to be an easy road to hoe. And today was no exception either. But on the other side of the coin is the life-changing opportunity presented to us today. Incredible, really!!!
