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..

Why You Might Care About Risk Parity Strategies

Everybody wants to know why the market just did what it did, and what is its next likely move. Chinese equities don’t seem that important to us, but the U.S. sell-off in August coincided with the Chinese one so maybe there’s a stronger connection than we thought. It’s important because investors would love to alter […]

Advice for the Fed

There must be more words written about the Federal Reserve and tightening of interest rates than any other issue that affects financial markets. A Google search throws up an imprecise “about 750,000” results! If each one is 250 words (less than your blogger’s typical post) that is 239 versions of the King James Version of the Bible. […]

Listen to What The Oil Price Is Saying

The collapse in oil prices was the dominant story of 2014, and it’s shaping up to be the dominant story of 2015 too. In the popular narrative, development of unconventional shale oil and natural gas in the U.S. has led to a supply imbalance. Saudi Arabia has decided to inflict a lesson on the upstart […]

MLPs Now Look Attractive Relative to Equities

A persistent problem for investors is constructing a balanced portfolio with an acceptable risk/return profile when Fed policy has rendered bonds an impractical component. Indeed, much of our business at SL Advisors revolves around providing solutions to this problem. High yield bonds, the closet equity refuge of many fixed income investors willing to move out […]

MLPs Misbehaving

I’m currently reading Misbehaving: The Making of Behavioral Economics, by Richard H. Thaler. It’s a fascinating book that tells the story of the development of Behavioral Economics as a discipline, and a constant theme is the ongoing debate with his academic colleagues who adhere to the Efficient Markets Theory (EMT). Basically, EMT holds that security prices […]