Your respect is greatly appreciated and I thank you for your openness.
When we engineer our portfolios so as to bring in a set amount of income regularly, we tend to do it back-asswards. By that I mean we look primarily at the income potential (expected) without giving proper due to the odds AGAINST things working out as we expect and like. It's the unexpected that humbles us like none other.
Maybe you could reverse things a bit? Suncoke, for example, already cut distributions in March, I think it was. Unless you've identified improvements in the company's business plan, model or balance sheet items, then it would seem to me that you're farting and burping before cooking the meal in preparation for eating. I'd be waiting on this one.
It's better to pick stocks for income that appear to be relatively safe in terms of distribution sustainability. I don't find that in the case of SXCP. China is a big importer of met coal and anything can happen quicker than yesterday. I hope you'll square off with any stock you consider purchasing---factoring in your personal qualifiers before walking down the aisle. A friend bought SMLP earlier this year, paying $21.85. All the MLPs have dropped severely, including NGL. But we know for certain that management has pulled out all the stops in rebuilding our future with NGL. Even so, the future is uncertain---perhaps not overwhelmingly so as in the case of some other possible picks, but these are highest risk days. Slowly wins the race---perhaps not with the glamour but at least with a measure of safety.
Happy burping and farting!
Young weed hopper, huh? Hilarious.
