Master limited partnerships have become wildly popular over the past decade, and it’s easy enough to see why. Collectively, they are the highest yielding major asset class available, and the 10-year cumulative total returns are an eye popping 328%, as measured by the Alerian MLP Index. (And yes, those returns include the carnage of 2008...Read More

Over the past 10 days, a period where the S&P 500 has traded sideways, REITs and MLPs are down 8% and 6%, respectively, as measured by the Vanguard REIT ETF ($VNQ) and the JP Morgan Alerian MLP ETN ($AMJ). Individual REITs and MLPs got hit harder.  The popular Realty Income ($O) and Martin Midstream ($MMLP)...Read More

I saw a headline this week that really caught my eye: “Saudis Cut Oil Output to Lowest in a Year.” Generally, Saudi Arabia cuts its oil output for one and only reason: demand has slackened due to a weak economy, causing the price to fall.  But then, that was before “fracking.” The Saudi move to...Read More