The Great Depression

  • Benjamin Roth: The Great Depression: A Diary

    Benjamin Roth: The Great Depression: A Diary
    It's all here, times change people don't -the endless govt programs that fail to stimulate the private sector -the ups and downs of the economy, the veterans pension stimulates just as the housing credit did, until of course the money runs out -Roth is a attorney in Youngstown Ohio who kept a diary regarding the economy from 1930 until WW II breaks out, he is objective, candid, and forthright which is more than we get from Washington DC now or then highly recommended

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August 26, 2012

Comments

Robert Takacs

Ugly action in some of the oil trusts BPT,PBT.
Any reason for this or any comments?

Dennis Elam

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.

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