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..

Priced For A Pragmatic Energy Transition

SL Advisors Talks Markets
SL Advisors Talks Markets
Priced For A Pragmatic Energy Transition
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The other day a NYTimes columnist contrasted the relative outperformance of oil stocks with plunging solar and wind. He concluded that the stock market is oblivious to the threat of climate change whereas the UN and other scientists believe we must reduce Greenhouse Gas (GHG) emissions to zero by 2050. The writer, Jeff Sommer, briefly […]

Pipeline Earnings Make Travel A Pleasure

SL Advisors Talks Markets
SL Advisors Talks Markets
Pipeline Earnings Make Travel A Pleasure
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Targa Resources provided one of several bright spots among pipeline earnings last week with a 50% increase in their dividend planned for next year. Their cashflows are increasing strongly. JPMorgan projects a Distributable Cash Flow (DCF) yield of 14% for this year, rising to 16% in 2024 and almost 18% in 2025. The new $3 […]

Book Review – Elon Musk by Walter Isaacson

SL Advisors Talks Markets
SL Advisors Talks Markets
Book Review – Elon Musk by Walter Isaacson
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“I want to go make that happen” was twenty-one-year-old Elon Musk’s thought in 1992 on California mandating a 10% market share by 2003 for Electric Vehicles (EVs). Or rejecting a job building videogames, which he loved, because “I wanted to have more impact.” As a young man he wanted to colonize Mars to ensure human […]

Suppose The Deficit Matters

SL Advisors Talks Markets
SL Advisors Talks Markets
Suppose The Deficit Matters
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For our entire careers the US budget deficit has hung over markets like the sword of Damocles. It was a political issue in 1992 when Bill Clinton beat George Bush, a victory enabled by Ross Perot siphoning off Republican voters with his warnings of fiscal catastrophe. Under Clinton we briefly ran a budget surplus, part […]

The Magnificent Fab Four

SL Advisors Talks Markets
SL Advisors Talks Markets
The Magnificent Fab Four
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Financial advisors need no reminding that performance this year has been heavily influenced by how much you invested in the Magnificent Seven (Apple, Microsoft, Meta, Amazon, Alphabet, Nvidia and Tesla). Not only have the remaining 493 stocks substantially lagged the S&P500, but the MSCI All-Country World index of nearly 3,000 companies would be down this […]