Well, this is my day of reckoning for sure. I got sick and tired of holding just 23 units of NGL and decided to go for broke.
Hmmmm, I'm not liking the sound of that one!
I know, you're thinking I added another whole unit, right?
Not to be...I just picked up 500. That's five hunnert, fer gosh sakes!!
And I spent big money, too---paid $14.25 fer each one o' dem dere units.
MS. Margin told me it was OK, she'll take good care of me for the duration. So now I'm back to owing her $73,000. And I'm good with that as this is a very high performing portfolio bringing in more than the wife and I need for life's essentials. The overall portfolio yield comes to 8.7% yearly.
The reasons I bring this up aren't at all complicated:
1. I wanted the satisfaction of holding a position demonstrating my confidence in myself as an investor. I don't ever blame a failed company for doing me in. It's always going to be about me. This applies to good and bad stocks alike as all of them are based on choices that I've made.
2. Whereas I'd hoped to pick up my last 500 units at $11 to $11.75/unit, it was not meant to be. This reality helped me look at things more realistically. Last night I knew I had to move today to secure my final purchase of NGL or watch as it rises as has been the case of late and eventually I'd be upset with myself for not having had the good sense and guts to do as my vision dictated.
As pete807 and catdaddy and I regularly maintain, we are in agreement that NGL is going to move into the $20 range, probably before the end of the first half of the coming year. We are of the opinion that $30 is within reach before the end of 2018.
Adding these things up I found myself thinking that I'd be a fool to not trust my instincts and knowledge as they work together to carve out my next paths of opportunity. These are the tools of the trade and they've enabled me to do as I do. When I no longer trust my instincts and mind, I've got less than nothing.
So now I stand with 25,000 units of NGL, cost basis is $10.39. I have to admit I'm feeling really good, seeing that 25,000 on the screen. So many times I've looked at numbers detailing position content and felt squeamish as though I were spineless. I'm not feeling like that now.
Please understand I'm not suggesting others do as I do, far from it. What I do hope, though, is that my story might help someone else with similar struggles.
A final comment on NGL:
It won't take much to rock its unit price. A management purchase on the open market, an update recognizing benefits of the unit repurchase program, a new divestiture of a lesser-performing asset, a newly acquired asset known to be immediately accretive....any of these will probably have a beneficial effect on valuation. And I'm seeing more and more positive nods from SA, Alerian and Yahoo!'s Market Realist.
So, then...a toast is in order!
AI
