No WES Here

I changed my mind on buying the Western Gas Partners, LP (WES) tomorrow. I kept up my research, looking for any information I could find, and I found precious little. Add to that the fact that the final offering price was set at $16.50/share, or $.50 less than the low end of the IPO price range, and I decided it was just to risky. Most of the time "No news is good news", but in this case it's more "No news is bad news".

My other investments are doing well. Intrepid Potash, Inc. (IPI) is up nearly 60%, and my McDonald's (MCD) investment is up over 10% and only $1.48/share before I sell all of it but 17 shares of pure profit I'm going to keep for the dividend.

I've been thinking of what to do with some of the money I have invested in MCD when I finally do sell my original position. I could hold onto the cash and wait for the next IPO like IPI, I can build up a larger position in General Electric (GE) or another good dividend player, I could even put some of it in a T-Bill or some other short term investment. I just don't know right now. I'll keep you informed.

I'd like to take some time now to say how disappointed I am in a friend of mine. I won't mention names, because I still want to give him the chance to keep his promise, but his initials are G. R. . I referred him as a possible contestant for the CNBC Million Dollar Portfolio Challenge contest along with 4 other people in order to earn "bonus bucks" to invest with. Of the five I sent invitations to, only my dad has responded and signed up, even though I told all of them they didn't have to play the game if they were to busy, and that it didn't cost anything at all to play, just sign up for it. I don't mind the other three people I referred not signing up because they never promised me anything, but G. R. stood in my home, looked me straight in the eye, wished me luck in the competition and said he would sign up for me. So far, NOTHING! A promise is a promise dude, and while I never forget a kindness, I NEVER forgive a fault, and their is no bigger fault in my book than telling me a bold faced lie, and while some might disagree, a broken promise is the same thing.