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..

Chesapeake's CEO Once Again Shows Poor Judgment

Chesapeake (CHK)  has long been the flag bearer for the natural gas industry. Aubrey McClendon has been front and center in making the case for shale drilling and the abundant natural gas reserves it is revealing. To many this is a game changer for U.S. energy consumption. Aubrey McClendon has also shown a tendency to get over […]

Short the Euro as Cheaper Alternative to Puts on the S&P500

Managing tail risk is a constant worry for any investor using leverage, and many others who shouldn’t worry since they’re not levered also fret over the possibility of a market swoon. It’s a real dilemma; low risk assets such as government bonds offer no return at all unless a flight to quality drives prices temporarily higher. Risky […]

Bond Investors Disagree With the Fed

Investors are living in a time of unprecedented openness by the Federal Reserve. Many readers are old enough to recall the days when “Fed-watchers” would seek to divine the central bank’s intentions on monetary policy through its open market operations. If managing reserves, and therefore indirectly the cost of short term financing through the Federal Funds […]

WSJ Calls The Bottom In Natural Gas

One day, probably in the not so distant future, Spencer Jakab of the Wall Street Journal will probably regret suggesting that natural gas prices may go negative, as he did in today’s article “Why Natural-Gas Prices Could Fade to Red”. It’s an attention grabbing headline, but is likely to be better known some time in […]

HedgeWorld Chicago 2012

I have been invited to give the Keynote Address at this industry gathering in June. I am looking forward to the opportunity to meet with hedge fund industry professionals and discuss how investors can achieve better results than they have in the past.