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 ... more

ALL CONTRIBUTIONS

Pipeline Correlations Are More Pleasant
Clients often want to discuss the correlation between returns on midstream energy infrastructure and crude oil prices. Prior to 2014, investors learned that pipelines are like toll roads, more concerned with volumes passing through than their value.
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Saturday's Attack Is A Game Changer
Early analysis of the twin attacks on Saudi Arabia’s oil infrastructure has focused on the length and severity of supply disruption.
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America Offers Safer Energy
Saturday’s surprise attack on Saudi Arabia’s Abaqaiq oil facility in Buqyaq has sent crude oil prices sharply higher.
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Momentum Crash Supports Pipeline Sector
Large pools of capital are deployed based on factor bets like Momentum and Value, relying on research that ascribes long term equity returns to them. Momentum has been outperforming Value for several years but that recently changed.
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MLPs: Five Years On, Cheaper Than Ever
The end of August was the five year anniversary of the peak in MLPs. The Alerian MLP index, albeit much changed and diminished since August 2014, remains 38% lower including dividends.
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HH Private Equity Sees Value In Unloved Pipelines
Retail investors struggle with the failure of growing production to lift the prices of midstream energy infrastructure, with its toll-model fairly insulated from commodity prices. Public market valuations differ from how private equity sees things.
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Comments

Latest Comments
Stocks Are The Cheapest Since 2012
8 months ago

It's hard to make such a precise forecast. However, we do think stocks look very attractive relative to bonds and are likely to do well over the long run.

The Uncertain Future Of MLP-Dedicated Funds
1 year ago

No, $KMI is a corporation. They gave up being an MLP in 2014 because it was too expensive to raise capital.

In this article: TRGP, OKE, KMI, PAA, SEMG, WPZ, NS, TEGP, WMB, TEP, TCP, TRP, AM, EEP, ETP, SEP, EQM
Reaction To 'The Alerian Problem'
1 year ago

Perhaps investors regard energy as relatively less vulnerable to trade disputes.

In this article: AMLP
1 to 3 of 3 comments

STOCKS I FOLLOW

BBK BlackRock Municipal Bond Trust
BGPIQ BORDERS GROUP INC
BHP BHP Billiton Limited
BIF Boulder Growth & Income Fund Inc.
BZF WisdomTree Dreyfus Brazilian Real Fund
CBB Cincinnati Bell Inc.
CDE Coeur Mining, Inc.
CHK Chesapeake Energy Corporation
CRK Comstock Resources Inc.
CSJ iShares Barclays 1-3 Year Credit Bond Fund
CXW CoreCivic, Inc.
DTO DB Crude Oil Double Short ETN
DVN Devon Energy Corporation
EARK Ecoark Holdings, Inc.
ESV Ensco plc
F Ford Motor Company
FCG First Trust ISE-Revere Natural Gas Index Fund
GCI Gannett Co. Inc.
GDX Market Vectors Gold Miners ETF
JCP J.C. Penney Company Inc.
KMP Kinder Morgan Energy Partners L.P
MDLZ Mondelez International, Inc.
MMR McMoRan Exploration Co.
MSFT Microsoft Corporation
OIL iPath B S&P GSCI Crude Oil TR ETN
OSGB Overseas Shipholding Group Inc.
PAA Plains All American Pipeline L.P.
PHK PIMCO High Income Fund
PTRC Petro River Oil Corp.
RIG Transocean Ltd.
RRC Range Resources Corporation
TDW Tidewater Inc.
UBS UBS AG
UCO ProShares Ultra Bloomberg Crude Oil
USO United States Oil Fund, LP
WMB Williams Companies Inc
WPZ Williams Partners L.P.
YCS ProShares UltraShort Yen
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LATEST ACTIVITY

Simon Lack
New TV show Yes Brexit Prime Minister must be coming soon https://t.co/kRYbIzyjMd
Simon Lack
Add $AMLP to this list. About to start accruing taxes again, structural flaw will hurt returns. more
Simon Lack
Amazing how negative #natgas prices are because of insufficient take away infrastructure in west TX. America is alm… more
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PERSONAL BLOG

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Work Experience

Managing Partner
SL Advisors, LLC
June 2009 - Present (10 years 5 months)

SL Advisors is a registered investment advisor offering investment strategies that can be accessed through separately managed accounts for individuals, family offices and institutions.

SL Advisors is designed to offer clients the same investment strategies with the same transparency, liquidity and access in which he invests his family’s money for a low fee.

Managing Director
JP Morgan
1986 - 2009 (24 years 1 month)

Founded and ran JPMorgan Incubator Funds, private equity vehicles which took stakes in emerging hedge fund managers (2001-2009)
Ran investment bank internet strategy, negotiating several profitable VC investments in several start-ups (1999-2001)
Ran fixed income derivatives trading through successive mergers (1986-1999)

Education

Publications

Bonds Are Not Forever; The Crisis Facing Fixed Income Investors
Simon Lack
Wiley
09/03/2013

An up-close look at the fixed income market and what lies ahead Interweaving compelling, and often amusing, anecdotes from author Simon Lack's distinguished thirty-year career as a professional investor with hard economic data, this engaging book skillfully reveals why Bonds Are Not Forever. Along the way, it provides investors with a coherent framework for understanding the future of the fixed income markets and, more importantly, answering the question, "Where should I invest tomorrow?" Bonds Are Not Forever chronicles the steady decline in interest rates from their peak in the 1980s and the concurrent drop in inflation during that period. Offering a uniquely intimate, yet analytically thorough look at the coming fixed income crisis, Bonds Are Not Forever is must reading for investment professionals, as well as retail investors and their advisors.

The Hedge Fund Mirage - The Illusion of Big Money and Why It's Too Good to Be True
Simon Lack
Wiley
01/03/2012

Sure, hedge funds have produced some of the greatest fortunes in recent years, but the shocking reality is that investors would have made more putting their money into treasury bills instead. And while hedge funds have proved to be serious moneymakers for those that manage them, investors themselves rarely reap the benefits. In The Hedge Fund Mirage: The Illusion of Big Money and Why It's Too Good to Be True, hedge fund expert Simon Lack blows the lid off the secret world of this class of investments, teaching you everything you need to know to maximize your own returns.