Simon Lack | TalkMarkets | Page 1
Managing Partner, SL Advisors, LLC
Contributor's Links: SL Advisors, LLC
Following 23 years with JPMorgan, in 2009 Simon Lack founded SL Advisors, LLC, an SEC Registered Investment Adviser. SL Advisors manages investments in energy infrastructure, including the Catalyst MLP & Infrastructure Fund (MLXIX), the American Energy Independence Fund (USAI), and separately ...more

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The Inflationary Energy Transition
Ominously for President Biden, opinion polls consistently show voters are unhappy with his economic stewardship. The surge in inflation in 2022 didn’t help, but after believing it to be transitory the Fed responded and it’s now back down.
A Look Back At Energy Transfer
Energy Transfer is the pipeline company most often directly owned by the financial advisors we talk to. It seems perennially cheap, and that’s in part due to their controversial history of treating themselves better than their other unitholders.
Pipeline Earnings Keep Climbing
​​​​​​​The energy transition is going pretty well and it’s fair to say it has been better for investors in traditional energy than renewables.
Discussing Energy In America’s Heartland
These three companies provided current evidence of the industry’s steady return of cash to shareholders, and more on the EV market.
Gains From Energy
Last week the WSJ published an interesting chart. It was in an article titled America’s Economy Is No. 1. That Means Trouble. The chart shows that US share of global GDP has been increasing for over a decade. We’ve gone from 21% in 2011 to 26%.
Energy’s Slow Transition
Treasury bills yielding 5.3% are not the worst place to put some cash. Long term expected returns on US large cap equities are generally 5-7%. Schwab expects 6.2%. JPMorgan 7%. The Equity Risk Premium is the lowest it’s been in over two decades.
AI Boosts US Energy
Traditional energy consumption is proving more resilient than many forecasts project. An example is Shell, which has moderated its carbon intensity targets to incorporate the sale of its retail renewable power business.
Who Do Energy Investors Want In November?
Last week I saw some investors in Florida before joining my partner Henry in Puerto Rico at the national sales conference for Catalyst Funds, our mutual fund partner.
Coal Trade Is Growing
American coal exports are booming. Exports of thermal coal rose 26% last year, to 44 Million Metric Tonnes (MMTs). This is mostly burned to produce electricity.
Struggling To Justify The Pause
The White House recently took a pause on approving new LNG export terminals. Here's why we think this decision was made and what the impact will be. Plus, the three funds that will profit from this environment:
White House Adopts An Energy Policy Where Everyone Loses
With his moratorium on new LNG export terminals, aging President Joe Biden and his advisers have stumbled on a way to upset both ends of the political spectrum. Domestic energy businesses want to export more, cheap US natural gas to foreign buyers.
Emerging Markets Never Do
Allocating to emerging markets is a Wall St. construct designed to confuse investors and justify periodic reallocations to higher fee products that obscure measures of relative performance. Some financial advisors will be outraged at this statement.
Bond Rally Helped Equity Valuations
It can fairly be said that the bond market boosted stocks in the last couple of months of the year. Equities have lost their cheapness in recent years, ever since the Fed belatedly became concerned about inflation.
Year-End Roundup
Heading into year’s end, a number of interesting stories caught my attention. Here is a brief overview of some events and regulations that may play a part in the energy space.
Higher Despite Retail Selling
The only negative about the pipeline sector today is the direction of fund flows. It’s regularly covered in this blog and a topic that continues to mystify us.
Safely, Cautiously Bullish
There’s no particular reason why a 12 month outlook is more important at year’s end, but that is nonetheless when research analysts take stock of past forecasts and offer new ones
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