RE:RE:Added again todayI have never been to Pinery. I did put in 18km in my lil green bathtub (a beginner 10' Pelican kayak my kids bought me for Father's Day) a week ago Saturday. Three hours is a lot of strokes for an old geezer like me but it felt good pulling up on the beach.
I'm not smart enough to pick a bottom. I look for good companies with great management where downside risk (in the business, not the stock) is mitigated. ENB fits the bill to a T from that perspective. Despite ticking those important boxes, ENB hasn't been on my radar. ENB's stated to achieve 5% growth didn't float my kayak :)
However, the fact that ENB and other midstreams have been beaten with a stick has opened up a new "total return" option that has been unavailable for ENB investors the last couple of years.
The fear in the market towards ENB for over-leveraging is even more unfounded than when ENB acquired Spectra. I jumped into ENB in a big way when every analyst and media comment about ENB was negative. I was amazed that nobody bothered to read and understand why ENB bought Spectra even though ENB management was very transparent. The surprise was that people ignored the obvious rather than ENB management making shiite up to promote their stock like so many other companies.
Once again, history is repeating itself when it comes to the Dominioin acquistion. The fact that the Enbridge BoD and management team have a stellar track record of making accretive acquistions seems lost on the market. When a company with an incredibly low risk profile offers an 8% yield and a 28 year history of increasing dividends, who here is smart enough to think they know better than the folks running ENB? If your answer is that you think you are, I would love to hear your thoughts in a PM.
Outsized yields are created by outsized risks and ENS is no exception. I just don't see ENS making a dumb mistake or the world shutting down like it did in 2020.
What I'm seeing is an industry segment (midsteams) getting abused multiplied by an investment vehicle (Splits) that are also getting abused. The risk/reward ratio is screaming at me.
I can't stop people from selling but I'm happy to assist them to exit their positions when I think it is a great time to buy as I'm always up for public service.
I apologize for repeating some things that I have posted in the past. Either humour me or get over it, or put me on ignore. At this stage in my life, I don't care.