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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.
The Shifting Regulatory Landscape for Bond Investors
In my new book, Bonds Are Not Forever; The Crisis Facing Fixed Income Investors, I make the case that some big trends in the U.S. economy and Finance began shifting following the financial crisis of 2008, the consequences of which will include interest rates insufficient to compensate bond investors for inflation and taxes (hence the […]
The Problem With "Rising Rate" Strategies
In recent weeks I’ve heard quite a few people comment that they’re looking for “rising rate strategies”. It’s a seductive concept; interest rates are almost assuredly headed higher. The debate about tapering rages on, and clearly the bull market in bonds is over. Serial Quantitative Easing will transform to the Fed’s exit strategy from its […]
Fox Business News – Time to Dump Bonds?
http://video.foxbusiness.com/v/2652189553001/time-to-dump-bonds/?playlist_id=1071839331001
Hedgeye's Third Time Lucky?
I’d never heard of Keith McCullough until today when we noticed that Kinder Morgan (KMI), a stock we own, was down 4%. MLPs are weak but KMI and its cousins KMP and KMR are certainly leading the way. The driver appears to be a bearish report on Kinder Morgan to be released to clients of […]
A Footnote on the September Newsletter
In writing this month’s letter (just published earlier today) I researched the source of the quote, “If you torture the data long enough, it will always confess.” It was attributed to Ronald Coase, listed on Wikipedia as “Born 1911”. Because his dates did not include an end date for his life, it somewhat improbably suggested […]