EUROPE’S ENERGY CRISIS IS KEEPING ENERGY PRICES HIGH
America leads the world in oil and gas production. We believe midstream energy infrastructure offers predictable cash flows to investors.
Agrium's Investor Day
On Tuesday I attended the morning session of Agrium’s (AGU) Investor Day in NY (the second part was scheduled for Memphis to visit a couple of their facilities). We’re invested in Agrium, having been first drawn to the stock by Jana’s Barry Rosenstein. Last year Jana published a detailed criticism of the company, highlighting both its […]
How To Lose Money On 4-Week Treasury Bills
Here is the first in what may become a series of financial market oddities brought on by the Federal government’s shutdown and the threat of a debt-ceiling related default. I noted a report that banks were stocking up their ATMs with additional cash in preparation for increased customer demand as we approach the October 17 […]
PIMCO's Low Rate Forecast
Bill Gross’s monthly investment outlook is invariably worth reading, and this month is no exception. His writing is engaging as well as insightful, and as the overseer of $2 trillion in assets he’s worthwhile listening to. It turns out that like me, Bill has re-examined the Fed’s interest rate forecasts following the non-taper last month. […]
Quarterly Outlook
Quarterly Outlook As is so often the case, the near term outlook for financial markets hinges on the two channels through which the government influences economic activity: monetary and fiscal policy. The Fed’s decision to continue Quantitative Easing via its $85 billion a month buying program showed how difficult it is to communicate the subtle […]
Why This Government Shutdown Won't Be The Last
As we’re all being reminded, 1996 was the last time the Federal government was forced to shut down, the result of a budgetary dispute between then House Speaker Newt Gingrich and President Bill Clinton. It didn’t last that long, was economically inconsequential and was generally believed to have worse consequences for the Republicans than the […]