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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.
Why Kyle Bass Hoards Nickels
Kyle Bass, who runs a hedge fund called Hayman Capital Management in Texas, is gaining notoriety as an investor with the foresight to anticipate today’s growing sovereign debt crisis. If eurozone governments ultimately write down their debt because the weight of supporting their banks becomes too great, Kyle Bass will go down as one of the […]
When Everything's a Macro Trade, Look at Natural Gas
A perverse but totally understandable consequence of the current crisis is that even though it was an excess of debt that got us here, the cost of borrowing is about as low as it could get – at least in the U.S., thanks to the Fed’s confiscatory monetary policy. But in Europe, the cost of […]
Bond Buyers Drive with the Rear-View Mirror
Charles Evans, Federal Reserve Bank of Chicago President, was on CNBC yesterday and nicely illustrated why bond yields could stay low for a considerable time. At times sounding as if he was running in a Democratic primary campaign, Evans commented repeatedly on the pain out there in the economy and the chronic unemployment. Interestingly he maintains […]
The Euro and Government Bonds Are Likely to be Poor Investments
While the troubles in the Euro-zone have clearly been a major source of uncertainty for U.S. equity investors, it’s beginning to appear as if negative consequences will be largely imposed on Europeans with manageable fallout elsewhere. No doubt there’s still plenty to worry about and this assessment could be wrong, but the economic data is […]
Get Elected and Legally Trade on Inside information
60 Minutes ran a piece last night revealing that Congressmen are not only exempt from the insider trading laws that apply to everyone else but also routinely exploit inside information to which they have access. That’s right, members of Congress can and frequently do profit from inside information, and it’s perfectly legal. Further description hardly […]