Q: Wes, I didn’t hear the whole show today and don’t know if you commented on this. But do you have a gut feeling about LINE and their SEC issues? And secondly, are you familiar with NTI?
A: We don’t follow LINE at the moment and I do not have a specific thought on their SEC issues, but barring any criminally negligent disclosures (like Enron), companies can generally overcome SEC action if their underlying business is healthy. But I don’t have specific knowledge of the LINE issue at this time.
I don’t know much about NTI – except that they’re a downstream MLP. We normally focus on Midstream MLPs because their distributions are more easily predictable. That doesn’t mean NTI is a bad business, just a less predictable one that it’s midstream counterparts.