Editor's Note: In case you missed it... over the weekend Barron's Andrew Bary wrote an excellent profile about maverick Hedgeye Energy analyst Kevin Kaiser. It's the #1 story on Barron's right now and chronicles Kaiser's bearish calls on companies including Kinder Morgan, Linn Energy, and Chesapeake Energy. Kaiser reiterates his view that "the worst may not be over for investors in battered master limited partnerships."
Below is a brief excerpt.
"The brash young energy analyst who has scored with bearish calls on such companies as Kinder Morgan , Linn Energy , and Chesapeake Energy , says the worst may not be over for investors in battered master limited partnerships. “We’re in the early innings of the MLP down-cycle,” says Kevin Kaiser, a managing director at Hedgeye Risk Management, a research boutique based in Stamford, Conn. “We had a 15-year up-cycle, and now we’re a year and a half into the downturn.”
It’s hard to name another equity analyst who has caused as much of a stir and bagged as many big targets in recent years as Kaiser, 29, who graduated in 2010 from Princeton University, where he was a co-captain of the hockey team. Kaiser’s views run counter to those of MLP bulls—mostly Wall Street analysts and dedicated MLP investors—who argue the sector is deeply undervalued now that the benchmark Alerian MLP index is down 45% in the past year and yielding 10%."
Click here to read the rest of the story on Barrons.com.