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Valuentum Commentary
Dec 14, 2015
FAQ: Help Me Understand Your Research on MLPs
It looks like your fair value estimates and your adjusted Dividend Cushion ratios aren't bad. What gives? Dec 10, 2015
Presentation Slides: Kinder Morgan, MLPs, and the Risk of $0
You don't want to miss this... Dec 8, 2015
Dividends Not Safe as Energy Markets Swoon
We continue to monitor the carnage in the oil and gas markets, and we encourage readers to evaluate each firm’s unadjusted Dividend Cushion ratio to assess capital-market dependency. For most midstream entities and upstream entities that remain inescapably tied capital cycle builds, the risks are extreme. Dec 7, 2015
Master Limited Partnership Model Still At Risk
The bust may still be ahead of us. Nov 3, 2015
MLPs Breaking Out But More Questions
The data points continue to pile up against the sustainability of this business model… Nov 3, 2015
Update: A 10%+ Cost of Capital for Midstream Equities Is Reality
Republished from November 2, 2015. Oct 30, 2015
Correction: Understanding the MLP Valuation Conversation
One slide speaks to the difference between what the industry is trying to sell to investors and what we are talking about. Admittedly, it is a jam-packed slide. Oct 27, 2015
A 10%+ Cost of Capital for Midstream Equities Is Reality
Kinder Morgan floated equity capital at a cost of ~12%. The implications are far-reaching. Oct 22, 2015
Nelson: Time to Consider Buying Kinder Morgan?
Now that everyone else was wrong, what now? The firm's new “sophisticated financing mechanism” is its very own revolving credit facility, in our view. Oct 4, 2015
In The Name of Our Independence and Integrity…For Goodness Sake
The vicious attacks and slanderous falsehoods are inappropriate as they are damaging to our reputation. We won’t stand for it. Latest News and Media The High Yield Dividend Newsletter, Best Ideas
Newsletter, Dividend Growth Newsletter, Nelson Exclusive publication, and any reports, articles and content found on
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