RE:Buying....pack...good move on pipelines
In terms of SPB -
At some point the SP will be at a level when the SP will make sense. As anyone who follows my posts knows, I am a retired veteran of The Street. As such, when I see a PR like the one last July, I ask myself a simple question..."Why are they doing this?" So if Cetaurus could stand on its own then SPB woulnd't need to change a thing. But when they say they are doing a major course correction especially not long after they buy it then that raises a question about the future income stream and the price they paid for it. Both of these are big red flags for anyone who works on The Street or retired vets like me.
Soooo..what I see right now is difficulty in doing the valuation and assessment of the risks associated with the new strategy going forward. This means right now a steady drift downward in the SP and and at some point it will stabalize when The Street decides that the future cashflows and the risk are priced in. When that happens, I will most likely buy in but before that buying is nothing short of speculation IMO.
Will it payoff to be buying now?
Perhaps. But too many questions remaining and my simple investment objective of getting the best risk adjusted return on my money, buying now doesn't make sense to me. For others with different investment objectives the perhaps it might.