New Search

If you are not happy with the results below please do another search

41 search results for: uncle sam

1

Uncle Sam Helps You Short AMLP

The Alerian MLP ETF (AMLP), with its tax-burdened structure (see AMLP’s Tax Bondage), is by design unable to come close to the return on its benchmark, the Alerian MLP Infrastructure Index (AMZI). Because AMLP doesn’t qualify for treatment as a Regulated Investment Company (RIC), it’s subject to corporate income taxes just like any other corporation. […]

2

MLP Funds Made for Uncle Sam

2013 and 2014 were great investing years. The S&P500 was +32% in 2013 and followed up with +14% the following year. MLPs also delivered strong performance. As long-time investors know, the Alerian MLP Index peaked in 2014 and even now remains 35% lower, while the S&P500 has continued to scale new heights. Investors in MLP-dedicated […]

3

AMLP Trips Up On Tax Complexity

SL Advisors Talks Markets
SL Advisors Talks Markets
AMLP Trips Up On Tax Complexity
/

We all know the US tax code is complicated. ALPS Advisors, manager of the Alerian MLP ETF (AMLP), has been tripped up by the tax complexities inherent in their fund structure. As a result they’ve been forced to make an embarrassing NAV adjustment to AMLP for taxes, depressing the fund’s NAV by almost 4%. It […]

4

Bad Investment Ideas Still Flourish (Part 2)

SL Advisors Talks Markets
SL Advisors Talks Markets
Bad Investment Ideas Still Flourish (Part 2)
/

A few weeks we posted Bad Investment Ideas Still Flourish (Part 1). The current plethora of products injurious to one’s financial health assured enough material for Part 2. ESG Like many Wall Street fads, Environmental, Social and Governance (ESG) standards started out as a good idea before being used to exploit the naïve and those […]

5

Pipeline Sector Extends Outperformance

SL Advisors Talks Markets
SL Advisors Talks Markets
Pipeline Sector Extends Outperformance
/

The continued rally in the energy sector is steadily lifting past performance ahead of the S&P500 over multiple timeframes. The American Energy Independence Index (AEITR) now has a higher annual return than the S&P500 over the past one, two and three years. Even over five years the performance gap is closing. The 12.3% pa return […]

6

Pipeline Rally Exposes Lagging MLP Sector

Last week the Alerian MLP and Infrastructure Total Return Index (AMZIX) finally recouped its Covid losses. MLPs have returned to where they were at the end of 2019, when few knew what a coronavirus or N95 mask was. MLP investors have had a miserable decade. The Shale revolution turned out to be an investment bust through overinvestment; the energy […]

8

Why MLP Fund Investors Should Care When They Change

MLPs have been losing relevance to the midstream energy infrastructure sector for years. The Shale Revolution caused them to evolve from reliable generators of income to growth-seeking enterprises. As upstream companies plowed money into drilling, pipeline companies felt compelled to add new infrastructure to service them. The capital spending spigot had already been ratcheted down since 2018, […]

9

For MLPs, Index Is Everything

Long-time MLP investors need little reminding that the sector is out of favor. The Alerian MLP ETF (AMLP), with its tax-inefficient structure (see MLP Funds Made for Uncle Sam) has been shedding clients for years (see AMLP’s Shrinking Investor Base). Its focus on MLPs while they dwindle in number means it omits most of the […]

10

The Disappearing MLP Buyer

Approximately 80% of our investments in midstream energy infrastructure are corporations – we invest in MLPs selectively. There’s a big difference between investing in pipeline corporations with their wide investor base, and MLPs whose pool of natural buyers is withering. That’s why eight of the ten biggest names in the American Energy Independence Index (AEITR) […]