Ahhh, soooooo...number 1 son---so you now have 23 units like the old man, right?
Good for you to take advantage of this ridiculously low price.
And I agree regarding retail ownership. I also find it calms me when I find my positions don't exceed those in management positions. I was shocked on Monday upon learning that were I an institutional investor, I'd be #17 on the list of largest unitholders. I'm nobody, really. I've just put a lot of commitment into my ALDW and NGL positions, believing both to be hugely under-valued. Fortunately, I don't mind waiting. If anything, the wait-time adds to the fun of things and it brings the price down, too.
But I've got to admit the moment NGL leaps forward will be a moment to be savored. You see, I changed portfolio management style three years ago. The main change was to pursue only my primary picks instead of answering to the cry of those insisting broad allocation is the only way to go. So instead of "supporting" 83 stock picks, I now keep nine or less. At this time, my NGL holdings amount to more than my entire portfolio asset value had been three years ago. And to top it off, my ALDW holdings greatly exceed it as well, even more convincingly.
I've more than doubled asset value by committing firmly to far fewer picks that I've personally found to stand the test of time.
What I've learned is that I've got to trust my instincts or I'm a goner for sure.
What pushed you to add today? I ask as it may help others as they wrestle with the same issues we do. I believe there's a lot of good folks on this board and the ALDW one who also may find their investment base double over the next year or two.
Looking forward to hearing more from you.......
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