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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..
Bloomberg TV 1:35PM
I’ll be discussing my book.
Why The Mario Put is Bullish for Stocks
It’s taken many observers including me longer than it might to comprehend, but ECB chairman Mario Draghi has done something that should be very bullish for U.S. stocks. Floyd Norris noted some of the ramifications in today’s New York Times. The Long Term Repurchase Operation (LTRO) in effect is an extension of credit from the […]
The (99%) Funny Side of Hedge Funds
You’d think it would be hard to find much humorous in the kind of year hedge funds have had – down 8.5% for the year in their second worst performance in history. But there can be, depending on your perspective. When I summarize my book, The Hedge Fund Mirage with the simple explanation that all the money ever […]
Why the Euro is Likely to Remain a Good Short, and Another Good Year in MLPs
Euroland euphoria has broken out – so say Ambrose Evans-Pritchard and Louise Armitstead of the Daily Telegraph. Mario Draghi rode to the rescue with Long Term Repo Operations (LTRO), and it’s now reported that Eurozone banks borrowed 489 billion Euros from the ECB for three years. If they are so moved they can engage in the carry trade, […]
Why We Still Prefer Equities over Bonds, Dollars over Euros and Devon Energy
Barron’s has a couple of interesting articles this weekend. They lead with “Buckle Up”, and make the case for equities by highlighting the very wide equity risk premium (the S&P500 earnings yield of 8% minus the yield on ten-year treasuries of 2%) something we’ve also noted in the past. This spread is historically wide and, […]