Someone posted the Hedgeye Kinder Morgan expose on the KMP board. For those interested, it was a summary of the same items Kurt Wulff raised 12 years ago during the Enron debacle. Nothing extraordinary, no smoking gun, lots of innuendo.
The market appears to have looked at it and laughed.
I do find it humorous though that Hedgeye built in some "outs" at the bottom, stating in essence, even if the market doesn't think we are right and the share price goes up, we are still right . I doubt Rich Kinder even addresses such a poorly constructed hatchet job.
Boy, not much in the way of specifics. Another thesis built on a cursory reading of the financials without any real work. That SA hatchet job on LINE was much better done, even if it was built on baloney.
Google Keith McCullough, A Modern Day P T Barnum, and you will come across the story with that title from ZeroHedge which includes the following quote:
"As you may recall, P.T. Barnum was an entertainer & master showman - you paid your hard earned money to him, and in turn you expected to be entertained. Enter Keith Mccullough. Keith is here to fill the void left by P.T. For $29.95 /mo, you too can be entertained.
Keith is the head tweeter CEO of hedgeye, an "investment adviser". The firm of course has no actual AUM, they tell other people what to do with other people's money. In summary, they're twice removed from your money.
What's nice about being twice removed from other people's hard earned money is that it doesn't sting as much when they lose it. You see, ever since the Bernanke committed to $85bn / mo last year, Keith has been urging everyone to jump into the equity pool head first into the deep end, forget the swimmies. Admittedly, Keith has been correct about the market since that time. However, the day trading momentum chasing strategy he advises is masked with a "macro" / "fundamentals" theme. He claims the use of complex statistical models, and that he has oodles of analysts burning the midnight oil reading 10Q's and obscure reasearch - blah blah blah. Everyone who is paying attention knows that this entire ride is a momentum play, driven by Fed flow. That's the cold hard truth, no matter how it's spun. Unfortunately what people forget, is that you only profit when you cash out. This is how people get hurt. "