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Investing

SteelPath September MLP update and news

MLP market overview Midstream MLPs, as measured by the Alerian MLP Index (AMZ), ended August down 6.7% on a price basis and down 5.5% once distributions were considered. The AMZ results underperformed the S&P 500 Index’s 1.6% total return loss for the month. The best performing midstream subsector for August was the Petroleum Pipeline group, […]

Investing

The Ultimate Father’s Day Present

Every Mother’s Day, my wife and her girlfriends have a tradition: They book a fancy restaurant and get all dressed up, looking a million bucks … And then? They offload the kids onto their husbands and spend the rest of the day drinking champers together! So for Father’s Day this year, I figured “if it’s […]

Investing

This week I lost a mentor

It was 2pm when I arrived at the Peter MacCallum Cancer Centre in Melbourne. I’d been going since 5am, driving in from the farm, then having back-to-back meetings … and back-to-back coffees. I took a deep breath and strode confidently into a private patient room and greeted my old mate, former Deputy Prime Minister Tim […]

Investing

Pass me a bucket

I saw the door of my study creep open, ever so slightly. I heard heavy breathing. Whispers. And then … fits of giggles. It was the school holidays and my sons were bored, so they decided to spy on their old man ‘working’. And fair enough too. When I was roughly their age, I’d do […]

Investing

Is a recession inevitable?

The yield curve has been a constant topic of conversation among investors since mid-August, when the 2-year/10-year Treasury curve briefly inverted and launched furious speculation that a recession may be around the corner.  The same holds true among Invesco’s market strategists, who have been debating what an inverted yield curve means and whether a recession […]

Investing

The day I got scammed on Bitcoin

“Mr Pape, are you ready to make a lot of money?” a stuffy British accent asked me over the phone. “Maybe, but I’m not feeling it”, I replied. “Mr Pape, are you aware that Bitcoin is currently surging? My other clients made 63% … just last week.” “I want you to get me … motivated”, […]

Investing

The Old Black Dog

Today I want to tell you a story about the dog that’s on the cover of my books. (If you’ve read my latest book, you might think you know how this story ends … but trust me, you don’t.) Her name is Betty, and she’s an old sheep dog from the Mallee. Betty was kindly […]

Investing

Five things to watch in September

August is supposed to be a slow, relaxing month — but this August was anything but that for investors. Trade frictions were on the rise for much of the month. The US Treasury yield curve inverted several times, causing jitters for investors concerned that a US recession is imminent. Of course, stock volatility rose, with […]

Investing

Private equity continues to invest in midstream

Amid the ongoing volatility of equity prices, underlying midstream fundamentals continue to be healthy. Midstream throughput, as measured by the production of oil, natural gas, and natural gas liquids (NGLs), continues to increase. Midstream capital needs and balance sheets also continue to improve. Despite this constructive fundamental backdrop, midstream equity prices, as measured by the […]

Investing

The Great Australian Finance Experiment

My five-year-old son is obsessed with maths. The other night he worked out that the maths app game we play each night is charging us a recurring fee. He was ropeable: “You need to delete this game off the iPad, or we’ll keep getting billed. Do you understand, Dad?” I nodded. Chip off the old […]

Investing

Introducing … Zuckbucks?

Facebook is set to launch its own crypto-currency next year, the BBC reported this week. (The article referred to the new currency as ‘GlobalCoin’ … though I much prefer ‘Zuckbucks’.) So, will this be yet another crazy crypto coin? Not a chance! My bet is that ‘Zuckbucks’ will be as boring as your Aunt Betty’s […]