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..
How We'll Painlessly Avoid The Fiscal Cliff
The Fiscal Cliff is forecast to represent 2.9% of GDP drag in 2013 if nothing is done, according to the Congressional Budget Office (CBO). Although it was originally intended as a mechanism to force Congressional compromise around bringing the Federal budget under control, with less than seven weeks until the automatic tax hikes and spending cuts […]
Tax Fears Hit MLPs
MLPs have been weak recently. On Monday the Alerian MLP Index (AMZX) sank almost 2%, on a day when equities were broadly unchanged. For the month, MLPs are down 4.7%, although still up almost 6% on the year. Much of the damage has taken place since the election. As the chart shows, MLPs have lost 3.6% since President Obama won […]
Amazon Features The Hedge Fund Mirage
Amazon asked me to write a piece for their blog promoting certain books, so I was happy to oblige. You can find it here.
Managing Downside Risk With The Fiscal Cliff
Having been pushed into the background in recent weeks by the election, the Fiscal Cliff is now at the forefront of investors concerns. Basic game theory dictates that a resolution should not occur until late in December. Negotiators won’t know if they have extracted the maximum concessions from the other side if they agree too soon. […]
Sandy’s Aftermath
It turns out that a state of increasing anger at the demonstrated fragility of our energy infrastructure may not be the best place from which to write objectively about the subject; nonetheless that is what I’m going to attempt.* Dark evenings huddled around a gas fireplace hoping the laptop’s battery lasts the length of the […]