To the Editor: Regarding " Trump's Energy Plans Are Creating Surprising Opportunities" (Cover Story, Feb. 21): I suggest that Avi Salzman look at the performance over the past year of master limited partnerships and subchapter C corporations such as Enterprise Products Partners, Energy Transfer, MPLX, and Antero Midstream -- just a few of the many tax-deferred, high-yielding, substantially capitalized, moderately indebted entities in the midstream energy field. They operate facilities that gather, compress, transport, fractionate, store, export, and otherwise perform necessary services for the energy products that the U.S. uses and exports. They are worth billions of dollars in enterprise valuations, pay substantial tax-deferred amounts to unit and share owners, and have appreciated magnificently this past year.

Elliot Miller Naples, Fla.

Hobson's Choice

To the Editor: In " Private Markets Offer Big Rewards -- and Headaches. An Insider's Tour" (Interview, Feb. 20), you have given your retail readers little of the former and a lot of the latter via the proverbial Hobson's choice. How can we "expect the [democratization] push to be successful" when a respected intermediary like Cambridge Associates categorically states that it is "advising [its] clients to stay clear of those managers and platforms" that target retail investors? A two-tiered system will absolutely not end well for the individual investor.

William J. Kelly Waban, Mass.

The Worst Value Trap

To the Editor: I view Comcast as one of the worst value traps in the market (" Comcast Is a Complicated Company. Its Stock Presents a Clear and Simple Opportunity," Feb. 21). The Roberts family, along with the Dolans who control Madison Square Garden Sports and its teams, and the Redstones who have controlled Paramount for decades, have done nothing for shareholders over a five-year period of a booming market. The charts are dismal, with Comcast and Paramount below their price five years ago and MSGS just barely above it. A major factor in this performance has been the dominance that these families have been able to establish over the voting control of the companies. The companies exist as hereditary fiefdoms, and control has been passed from one generation to the next without regard for the insight that fresh eyes might have brought to the boardroom.

Bill Gottdenker Mountainside, N.J.

Privatizing Medicare

To the Editor: Regarding " Medicare Is in DOGE's Crosshairs. Be Ready for Whatever Comes" (Retirement, Feb. 20): Privatizing Medicare through Advantage plans has nothing to do with saving money for the government, seniors, or the disabled; rather, it's another example of political hacks selling out to lobbyist charms.

Martin Mutsch Wyckoff, N.J.

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February 28, 2025 18:32 ET (23:32 GMT)

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