Blog
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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..
MLPs and Crude Oil, the Improbable Dance Partners
Talk about MLPs nowadays and pretty soon you’ll get to crude oil. Few will quickly forget the collapse in crude from 2014 that led to the collapse in MLPs. To be an MLP investor seemingly requires a view on the price of what moves through their infrastructure (although only 7% of pipelines in the […]
Why Market Timing Can Be Seductive
We generally don’t keep CNBC on at our office. Its relentless focus on the short term, punctuated with incessant commercials, make it a needless distraction. That’s why they hire attractive presenters. However, when passing the office next door I did notice a headline saying we’d gone 33 consecutive days without a 1% move in the […]
The Shrinking Pool of Cheap Assets
Stocks have in recent years been the destination of choice for bond refugees. The guiding strategy behind monetary policy since 2008 has been to drive investors into riskier assets so as to boost economic growth. Amid mounting evidence that this objective was being achieved, the Federal Reserve has contemplated the timing around ending this strategy […]
Energy Transfer's Gift Is Less Than It Appears
For information on our MLP mutual fund, please click the link below: Last week’s blog post (Williams Satisfies Two Masters) highlighted the different views of cash payouts by the MLP investors who hold Williams Partners (WPZ) and the C-corp investors who hold Williams Companies (WMB), the General Partner of WPZ. WPZ investors value regular payouts […]
Williams Satisfies Two Masters; More on Solar
Williams Satisfies Two Masters Master Limited Partnership (MLPs) have been reporting earnings over the past couple of weeks. They were largely as expected with several names providing modest positive surprises. There were also some other interesting announcements – notably the sale by Energy Transfer Partners (ETP) and Sunoco Logistics (SXL) of part of their interest […]