Greg,
It always seems much harder to know when to sell than when to buy. Using your KMP for example...You own 22K shares of KMP, and the stock has been trending downwards for the past year when the market's been going straight up, and this latest news brings it back to early 2011 levels. You're still making 6.x% on the distributions which is great, but what exactly would you be looking for to convince you to sell and reallocate to something that might be a better performer moving forward? Is it a specific level, or specific news, or a downward trend of X number of years that under performs market or similar stocks' trends? Of course, if you bought KMP back in 2000, or even 2005, you're doing great on both growth and distributions, but I'm just curious about the triggering event to sell. In this case, it appears you're not bothered by the recent news and will hold, but what would bother you?
Thanks for all your input.
-Chris