GREY:CRIUF - Post by User
Comment by
deisman03on Jan 24, 2019 1:32am
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Post# 29274225
RE:RE:RE:RE:Why the selling?
RE:RE:RE:RE:Why the selling? First off, I'm not an accountant. Secondly, I find quarterly reports and perspectus reading to be extremely tedious but I do my best to wade through the muck and understand it all.
One of the reasons I don't have a large portfolio.
Before management went acquisition crazy this trust was a CASH COW. And yes, it had a line of credit.
It seems you really depend on the monthly payout??? No disrespect intended.
A lot of people do.
When Solar was acquired, someone had stars in their eyes, they were certainly blinded by something. It was a loser before they bought it and it never changed. What it did do was bleed off a lot of cash flow into a deep dark hole, never to be seen again.
Last year another Director was added to the BOD. That Director was a watchdog for one of the largest investors. NO MORE SHENANIGANS. This trust was going to be run for maximum profitability.
It looks to me like these are the changes they deem necessary to maximize profits to maintain the distributions and bring down debt.
When the management said their would be headwinds a few quarters back that was a very polite term for a HURRICANE.
The socalled deferral is purely a legal term and yes, we will be at least TWO months or 13.9 cents per unit per year less than a full year short of payout. No other way around it.
I wonder if it that wording was carefully chosen for legal purposes???
Still, for most of us here, none of this means a thing other than that this year's distribution payouts will be appx two months is two months short or if you prefer, deferred. Some of them lost close to 70% of their initial investment as well.
There will be some bad feelings and a lot of confusion for a while.
Hopefully it will all come out in the wash.
Good luck to all the good folks here.