America’s midstream energy infrastructure, the pipelines that move U.S. energy supplies to market is crucial as we strive for American Energy Independence.

Why There Are Too Many Hedge Funds

Last week I gave the second in a series of presentations I’ve been invited to make to the Tiger 21 group. Tiger 21 is an association of wealthy entrepreneurs that engage in “peer-to-peer” learning on issues that they have in common. Criteria for membership include a minimum investable assets of $30 million and payment of […]

The Price of Fear

The Equity Risk Premium has once again drifted up to all-time high levels in recent weeks. The S&P500 has an earnings yield of around 7.9% (assuming S&P earnings of $105 versus current price of 1,330). Ten year treasuries are 1.6%, so the resulting 6.3% spread is back at levels not seen since the early 70s. […]

This Immigrant Celebrates 30 Years in America

May 17th, 2012 was the 30th anniversary of my arrival in the U.S. On that day back in 1982 aged 19 I arrived for the first time in New York City fully expecting to be mugged as soon as I stepped off the plane such was the city’s reputation at that time. Although I grew […]

Natural Gas Steadily Supplants Coal

The New York Times has an interesting article today highlighting the dilemma for Louisa, KY, in the heart of coal country. American Electric Power (AEP), which operates the local coal-burning power plant, wants to switch to burning cleaner, cheaper natural gas. As might be expected this has caused an uproar, but there are few easy […]