I have been in this business for at least 12 years and follow KMP ETP EEP SXL BPL MWE PAA NS EPD I hope you understand when generalizations are made and when there are specifics. ETP if you follow what I said is my favorite MLP for next 3 years BUT they choose when prospects are looking great to do secondaries> Because they get the money the easiest then and it is extremely troublesome when they do this. P.S. I owned this at 56 and have watched it come back the last 2 years. They ALL have secondaries BUT etp times it just when they are opening a new line or when you expect an increase in distribution. They have done this at least 3 times in last 2 years . It is the timing I speak about and if there is a secondary the new owners,they share in the next distribution and while you wait 3 months they wait 1 or 1 1/2 months and at a lower- lower prices. The real problem is that they have had more projects finish and alot of money is needed. But, it should be at 48 not 43. There is no answer except dollar cost averaging down . Eventually,they will stop secondaries (2011+) and be at 50 (2011) and if you own it today and get $3.70 - $4.00 each year. BUT BUT the real reason is it is a distribution machine and if you sell it the last month of each year and buy it back in Jan using Schedule E it could assist you in paying less federal taxes.