Is Being Bullish Socially Acceptable?
There’s rarely a shortage of bearish articles. The recent batch incorporates a tone of pleading, or at least reasoning, with investors to acknowledge our circumstances when choosing investments.
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Simon Lack, Portfolio Manager
101 posts
Simon Lack is Founder and Managing Partner of SL Advisors, LLC. Mr. Lack is Portfolio Manager of an energy and infrastructure fund at Catalyst Capital Advisors LLC. Mr. Lack’s experience includes: Managing Director, JPMorgan Global Trading Division and CEO, JPMorgan Incubator Funds. Mr. Lack has authored The Hedge Fund Mirage: The Illusion of Big Money and Why It’s Too Good to Be True (January 2012) and Bonds Are Not Forever: The Crisis Facing Fixed Income Investors (September 2013).
Energy Investors See Us Moving Again
The energy sector has been leading the market’s rebound from the lows of March. Demand for crude oil plummeted, and the Saudi decision to simultaneously increase supply caused prices to…
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Stocks Look Past The Recession and Growing Debt
At Berkshire’s virtual annual meeting recently, Warren Buffett mused that their cash hoard of $135BN didn’t seem that much. Stanley Druckenmiller said, “The risk-reward for equity is maybe as bad…
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How Risky is Dining Out?
For a graphic picture of how the restaurant business has shut down, it’s hard to beat the OpenTable chart below. For several weeks, U.S. dinner reservations on their system have…
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The U.S. Borrowing Pandemic
Ever since the 2008 financial crisis ushered in permanently low interest rates, perhaps the biggest question in finance has been why long term rates remain so low .
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Pipeline Payouts Holding Up
Most companies get a free pass today on cutting their dividend. So far this month nine S&P500 companies have suspended their dividend, with another half dozen making reductions. Goldman Sachs expects S&P500 dividends to be reduced by 25%.
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Can An ETF Go Negative?
Monday was the day crude oil futures traded as low as negative $41 per barrel. As with the 1987 stock market crash, Monday’s participants will recall that date for the…
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Texas Ponders Oil Cuts
Yesterday the Texas Rail Road Commission (RRC) began their public hearings via Zoom on a request from some oil companies that they limit oil production (“proration”) to avoid unnecessary waste…
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Pipeline Companies Trim New Projects
Coming into 2020 the pipeline sector was in good shape. Spending on growth projects peaked in 2018, and lower growth capex combined with rising cashflow from existing assets were set to drive Free Cash Flow (FCF) higher.
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Navigating the Collapsing Oil Market
To the list of previously inconceivable events, add Texas oil drillers asking for their regulator to impose production curbs. Pioneer Natural Resources (PXD) and Parsley Energy (PE) filed a request…
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