Simon Lack | TalkMarkets | Page 4
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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Will Kinder Morgan Cover Its Cost Of Capital?
Kinder Morgan reported earnings and announced that President Kim Dang will be taking over for Steve Kean as CEO. This prompted us to look back over KMI’s history, which reflects some of the best and worst of the MLP sector for the past ten years.
US Oil And Gas Production Growing
US crude production is expected to grow, but slowly. Natural gas production will increase at a faster pace with export growth more than offsetting a modest drop in domestic consumption.
Don’t Bet On A Return To 2% Inflation
The Fed has a poor forecasting record, something Wall Street never tires of pointing out. A recession later this year is the consensus forecast. It’s conventional wisdom that tighter policy will depress growth and induce a pivot.
Looking Back On 2022
Midstream energy infrastructure had a great year. Fundamentals that were good a year ago remain so. With free cash flow almost 2X dividends, buybacks increasing, and capex still constrained, 5-6% yields still look appealing.
Will The January MLP Effect Beat Negative Sentiment?
Consumer sentiment is as bad as 1980 when inflation was 13%. The Fed funds rate swung from 17% to 9% before peaking at 19% in early 1981. Consumers today are more negative than they were back then.
Merry Christmas And Happy Holidays!
Christmas pudding is among my favorite traditions of the season. Like marmite, it’s only offered by English parents, and failure to acquire a taste when young quickly becomes permanent.
Can Pay Raises Keep Up With Inflation?
Congress shouldn’t have passed last year's $1.9TN American Rescue Plan, and the Fed was at least a year late in shifting from its accommodative policy. As a result, the Fed wants to drive unemployment higher, thereby pressuring real incomes.
Is BREIT Marked To Market?
How do you conservatively value illiquid assets in a fund that offers liquidity to existing investors and accepts money from new ones? That’s the unsolvable question inadequately answered by the $125BN Blackstone Real Estate Investment Trust (BREIT)
Putting Carbon Back In The Ground
Sometimes a careful, dispassionate analysis of a company’s SEC filings can tell you everything you need to know. Calls with management can improve your understanding but can also color your judgment.
AMLP Trips Up On Tax Complexity
We all know the US tax code is complicated. ALPS Advisors, manager of the Alerian MLP ETF, has been tripped up by the tax complexities inherent in their fund structure.
Some Energy Forecasts Are Aspirational
Long term energy forecasts are nowadays subject to a partisan test by many readers based on whether or not they project a rapid energy transition.
Why Aren’t Renewables Stocks Soaring?
2022 should have been a great year for renewables. The prices of fossil fuels, which they are supposed to replace, have jumped.
Energy Pragmatism Is Beating Extremism
As the world’s leaders meet in Egypt at the COP27 climate change conference, there are reasons for optimism among those who yearn for a pragmatic approach to reducing global Green House Gas emissions (GHGs).
Wage Rises Complicate The Inflation Outlook
Fed chair Powell and the American worker don't have an alignment of interests. In his remarks, following another .75% rate hike, Powell said the FOMC is “acutely aware that high inflation imposes significant hardship as it erodes purchasing power.”
Energy Policies Will Drive Business From Europe
The European energy crisis has rendered their manufacture of fertilizer uncommercial because of high natural gas prices, which are likely to persist for at least another year or so.
OPEC+ Strikes Back
The actual drop in OPEC+ output is likely to be around 1.2 Million Barrels per Day (MMB/D) rather than the 2 MMB/D advertised, because several countries are already struggling to produce at their current quota.
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