4Q 2016 Commentary

Trumpeting in the New Year

To our way of thinking, 4Q16 can aptly be characterized as a rather perfect study in behavioral finance, as investors were so heavily and swiftly influenced by the dichotomous political forces of the pending Presidential election. Through September, the broad equity market...more

3Q 2016 Commentary

A Welcome Respite

Following what was a very volatile market in the first half of the year, the third quarter provided a welcome respite allowing the major stock averages to resume a stretch to modest new highs. Much of this upward move was delivered on the back of the continued search for yield and corporate America's continuing affinity for stock buyback programs...more

2Q 2016 Commentary

At the Crossroads

Following what was an exceptionally strong US equity market comeback from mid-February into early April, the second quarter, all in, was relatively mild mannered but for the surprise outcome respecting the Brexit referendum. Notwithstanding the vote's late stage narrowing margin in favor of leaving the European Union, no one believed in an affirmative outcome...more

1Q 2016 Commentary

A Tale of Two Halves

The first quarter of 2016 is best characterized as a tale of two halves. The first half was marked by an exceedingly tumultuous equity market and a growing portrait of gloom, doom and uncertainty as to whether an imminent recession was finally in the making. To everyone’s surprise, the sentiment quickly faded as a strong relief rally firmly took hold in latter half...more

Special Report

Midstream MLPs: The Strength of the Business Model in a Volatile Oil Market

Following what has been a very difficult eighteen months in the US energy sector, the last several weeks have been an especially arduous period with financial-crisis like volatility not seen since 2008. Investor anxiety has surged on inflammatory reports regarding midstream energy partnerships, much of which is misinformation or myth. This in turn has driven already extreme negative sentiment even further. Unfortunately...more