ead83 - I know why you like TPAPA. the maths is compelling.
I used to like it a lot too, and all of my friends and relations loaded up around $45 immediately after the recap was finalised. That was good buying.
The WORRY right now is that TPI is not in a great place gearing-wise. There is an ongoing risk that they will turn off the tap on TPAPA distributions as they seek to get the balance sheet sorted out. . . .which would send it straight back to around $45 if ELDPA is any guide.
It is an issue that James Lawrence - hybrids analyst at RBS Morgans - is pretty concerned by right now.
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