Incitec Pivot Ltd T.IPL

RE:what I've been doing

[SargeX]

I should add that our position weighting (Main/Full, Medium, Minor) is based upon book value not current value, I was thinking it might look a little odd that the BIP holding is only medium with it havng a current value greater than the current value of the original 6700 shares of IPL.

SargeX wrote: It's very interesting to see so many different opinions. Most of us have a unique position and story. Here's mine.

My wife & I have owned IPL since Mar 2010 at $12.13. We've added along the way to max out at 6700 shares just before the BIP announcement with an average purchase price of $18.09. That made it what we classify as a full position.

I had always liked IPL right up until they announced they were doing Heartland on their own. I liked the Heartland idea but hated them trying to do it on their own. At the time, I commented that Bayle was acting like a BTO (Big Time Operator).

We also hold a medium position of BIP.UN (2500 shares). As I mentioned, I've grown a little suspicious of the BAM crew and have sold all our BEP.UN and BPY.UN. I think Brookfield are nasty operators and the offer is definitely a low baller. I also think these guys usually get their way so either a slightly higher offer is made or they just unload all their shares for a great profit.

So, to the point. I just sold another 1200 shares at $18.12 near the close. This means we have sold 4500 of our original 6700 so only have 2200 left. We are break-even on the captial side but have collected an amazing $23.6k on the divys for the 4500 shares we've sold.

If Brookfield is successful, then I'll apply for the swap of the last 2200 for BIPC shares. If they are unsuccessful and the price gets creamed, I'll replace the sold shares at a lower price.

I know some people think that selling is being dumb but everyone's got to do what they have to do.

Ciao
  Sarge