A lot of noise has been made about the sustainability of the current yield of Buckeye Partners (BPL). However, the steadily declining partnership yields as the common unit price increases argue against such a scenario. Instead, a decent long-term investment strategy has probably begun. But it may take some time for the negative market attitude to vanish from the investment scene.
Oftentimes, Mr. Market goes hyper about a distribution cut after there has always been one such event. One would almost think the market now perceives distribution cuts as a management's top priority