Weekend August 26 2012
We sent a written response to the Wall Street Journal regarding Peggy Noonan's column on the shooting at the Dark Knight movie. We suggested that the causality she proposed was backwards. The people attending the movie did so because they are in the mood to do so rather than being affected and having mood determined by the film itself. Our letter was printed in the August 4 2012 Wall Street journal.
A excerpt of our comments appears in the August 2012 Socionomist, Social Mood Regulates US Multiple Shootings.
Ugly action in some of the oil trusts BPT,PBT.
Any reason for this or any comments?
Posted by: Robert Takacs | August 27, 2012 at 01:04 PM
There was a negative article on all energy trusts in the WSJ this past week stating that all the trusts would eventually stop paying and there was no return of principal as in a unit investment trust. Hence the suggestion was that it eventually becomes zero.
Permian Basin Royalty, a well run trust, reported that Conoco claims to have overpiad by $5 M, and they cut their dividend at the same time.
My conclusion is that all energy trusts need to be avoided. The selling looks overdone in PBT but who knows. As you say they are being heavily sold. There had been numerous negative articles on SJT on Seeking Alpha and then HGT was assigned a loss from a legal settlement. HGT now trades about six bucks.
Posted by: Dennis Elam | August 27, 2012 at 04:35 PM