In Memoriam (Repost from 2019)
The end of next week, the last trading day of August 2019, will be the 5-year anniversary of the peak of the Alerian MLP Index. The peak came well after oil prices peaked (mid-July 2014), with the final surge through the end of August driven by Kinder Morgan (KMI) announcing a buyout of its subsidiary MLPs (KMP, EPB, KMR) at large premiums.
Below I run t…