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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: Dennis Roth who wrote (150980)5/18/2011 11:08:27 AM
From: Dennis Roth2 Recommendations  Read Replies (1) of 206093
 
CS Take on MLPs
Weekly Analysis
MLPs Swoon Again in May
34 pages, 49 exhibits
Download Link: sendspace.com

MLPs Swoon Again in May: The AMZ is down 7.4% for May versus 1.9%
for the S&P 500. We do not see this correction as the start of a bear market
for MLPs as underlying trends still are constructive in our view. The bull case
would emphasize that distribution growth appears to be accelerating to 5%
from 2.6% in 2009 and 3.0% in 2010 and this, coupled with an average yield
of 6%, should equate to relatively attractive returns, especially given still
benign interest rates. The bear case would point to interest rates that may
be poised to rise as the Fed wraps up QE2 and inflation expectations creep
higher. A further concern may be the potential for high oil prices to dampen
demand and choke the economic recovery. And finally, the potential for tax
reform to negatively impact the status of MLPs – we again stress that we do
not view this as a likely event (See page 3).

Use Pullback to Accumulate MLPs with Visible Distribution Growth:
Our top picks are DPM, EPD, ETE, PAA and NGLS.

====

OT:
FUNDamental Insights
CEF Highlights
16 May 2011 ¦ 28 pages
citigroupgeo.com

In this report, we aim to provide investors with a regular update and our latest views
of the closed-end fund (CEF) sector.
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