EUROPE’S ENERGY CRISIS IS KEEPING ENERGY PRICES AND INFLATION HIGH
America leads the world in oil and gas production. We believe midstream energy infrastructure offers predictable cash flows to investors..
ETFs and Behavioral Finance
There are over three million stock indices in the world, more than 70 times as many as actual stocks. Before learning this startling fact in the FT the other day, I might have guessed wildly at 1% of this figure, thinking it way too high. Although the growth in Exchange Traded Funds (ETFs) is not […]
AMLP’s Tax Bondage
Tax Freedom Day is that point in the year when you’ve figuratively earned enough to pay all your taxes. For the rest of the year you can feel as if your income is your own. Naturally, it can never come soon enough. Investors in the hopelessly tax-burdened ETF, the Alerian MLP Fund (AMLP) face the […]
Rising Rates and MLPs: Not What You Think
Five years ago my book Bonds Are Not Forever; The Crisis Facing Fixed Income Investors argued that interest rates were likely to stay lower for longer. Excessive debt led to the 2008 Financial Crisis, and our thinking was that low rates were part of the necessary healing process, allowing the burden of debt to be […]
An Expensive, Greenish Energy Strategy
Most of the U.S. has been unseasonably cold – enduring twelve consecutive days of sub-freezing highs in New Jersey while owning a home in SW Florida is your blogger’s self-inflicted wound. The pain is only slightly ameliorated by news of record natural gas consumption of over 140 Billion Cubic Feet (BCF), almost twice the annual […]
MLP Distributions Through the Looking Glass
Alerian’s page showing annual distribution growth for the Alerian MLP Index (AMZ) contains their most popular chart (it’s the 4th one down under “Figures and Tables”). It’s no wonder – the steadily growing distributions it portrays should be enough to calm any income seeking, excitement-averse investor. Since it’s their most viewed page, many investors must […]