Wasn’t Cheaper Crude Supposed To Be A Good Thing?

This week’s Market Update is posted at Alpha Baskets and includes the following;

One front burner issue of the last few weeks has been the unraveling of the MLP space as well as the companies run by Richard Kinder which of course used to be the largest MLP and which endured a massive dividend cut. The big MLP ETFs are down on the order of 40% this year. There was a time a few years ago where it was popular to think about having very large allocations to the MLP space because of the generous yields and the “fact” that because they only move energy from place to place, they would be immune to a decline in energy prices. That was true until it wasn’t which is a reminder that there will be future market niches where pundits suggest 20-25% allocations and those suggestions will be just as bad as 20-25% into MLPs.

Please click through to read the entire update.

We were in Maui last week so some pictures from that trip for the next few posts.

The first picture obviously a lifeguard tower, it is from DT Fleming Beach near Kapalua

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The second one is from hike up the Waihee Trail to an amazing view.

 

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The final one for now is this fence in Kuau which is near Paia.

 

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