Update June 2014 Go to Core Portfolio for update on LNCO.
I see Cramer is once again pushing LNCO) (Update: Dec 19. Can add or buy at $36.93.) This is a fabulous new investment vehicle suited for people that want to put master limited partnerships in their IRA. (For ex you have little or no investment monies in a taxable account.)
Typically you do not buy master limited partnerships in an IRA. But LNCO—(Not an MLP but shares in MLP growth—backed by LINE— IS an LLC (limited liability company) that pays dividends) gives you the opportunity to place this dividend producing investment in the IRA and Avoid all the awful paperwork and tax issues at the end of the year. (I understand KMR and EEQ are similar investments but I have NO knowledge of these and have no intentions to buying them.) (Update: I am told EEQ is good for an IRA paying over 7%-it is my understanding KMR pays dividends that buy additional Shares)
Ex dividend is tomorrow November 2 and should be suitable for purchase at a lower price. Buy Limit at $38.49 but may purchase at market, depending on what happens. Pays around 7% and would be a long term hold. (Update: Dec 12 LNCO is a buy at $38.00)