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KmikeyM
publicly-traded person
2
4
6
7
9
11
Q1 '14 Q2 '14 Q3 '14 Q4 '14 Q1 '15 Q2 '15
iPhone 6 or iPhone 6+?
Republican or Democrat?
Mexico or Hawaii?
Beard or Clean-shaven?
Vasectomy or not?
Exclusive relationship or keep dating?
iPhone 6 or iPhone 6+?
Republican or Democrat?
Mexico or Hawaii?
Beard or Clean-shaven?
Vasectomy or not?
Exclusive relationship or keep dating?
INVESTING IN THE
STOCK MARKET IS
A TERRIBLE IDEA*
*unless you’re a professional investing other people’s money
COMPLEXITY
Derivatives
Collateralized debt obligationCredit default swaps
ForwardsFutures
Mortgage-backed securities
Options
Structured asset-backed security
Tranches
Spot contract
Black-Scholes model
Counterparties exchange
Coupon
Lock products
Certificate
№ 430
For one Share(s)
Issued to
Dated ,
№ 430 Shares one
KmikeyM
This Certifies that is the registered holder of one Shares of
the Capital Stock transferable only on the books of the Corporation by the holder hereof in person or by
Attorney upon surrender of this Certificate properly endorsed.
In Witness Whereof, the said Corporation has caused this
Certificate to be signed by its duly authorized officers and its Corporate Seal
is to be hereunto affixed this day of , A.D. .
Certificate
№ 430
For one Share(s)
Issued to
Dated ,
№ 430 Shares one
KmikeyM
This Certifies that is the registered holder of one Shares of
the Capital Stock transferable only on the books of the Corporation by the holder hereof in person or by
Attorney upon surrender of this Certificate properly endorsed.
In Witness Whereof, the said Corporation has caused this
Certificate to be signed by its duly authorized officers and its Corporate Seal
is to be hereunto affixed this day of , A.D. .
Certificate
№ 430
For one Share(s)
Issued to
Dated ,
№ 430 Shares one
KmikeyM
This Certifies that is the registered holder of one Shares of
the Capital Stock transferable only on the books of the Corporation by the holder hereof in person or by
Attorney upon surrender of this Certificate properly endorsed.
In Witness Whereof, the said Corporation has caused this
Certificate to be signed by its duly authorized officers and its Corporate Seal
is to be hereunto affixed this day of , A.D. .
Certificate
№ 430
For one Share(s)
Issued to
Dated ,
№ 430 Shares one
KmikeyM
This Certifies that is the registered holder of one Shares of
the Capital Stock transferable only on the books of the Corporation by the holder hereof in person or by
Attorney upon surrender of this Certificate properly endorsed.
In Witness Whereof, the said Corporation has caused this
Certificate to be signed by its duly authorized officers and its Corporate Seal
is to be hereunto affixed this day of , A.D. .
Certificate
№ 430
For one Share(s)
Issued to
Dated ,
№ 430 Shares one
KmikeyM
This Certifies that is the registered holder of one Shares of
the Capital Stock transferable only on the books of the Corporation by the holder hereof in person or by
Attorney upon surrender of this Certificate properly endorsed.
In Witness Whereof, the said Corporation has caused this
Certificate to be signed by its duly authorized officers and its Corporate Seal
is to be hereunto affixed this day of , A.D. .
Certificate
№ 430
For one Share(s)
Issued to
Dated ,
№ 430 Shares one
KmikeyM
This Certifies that is the registered holder of one Shares of
the Capital Stock transferable only on the books of the Corporation by the holder hereof in person or by
Attorney upon surrender of this Certificate properly endorsed.
In Witness Whereof, the said Corporation has caused this
Certificate to be signed by its duly authorized officers and its Corporate Seal
is to be hereunto affixed this day of , A.D. .
Certificate
№ 430
For one Share(s)
Issued to
Dated ,
№ 430 Shares one
KmikeyM
This Certifies that is the registered holder of one Shares of
the Capital Stock transferable only on the books of the Corporation by the holder hereof in person or by
Attorney upon surrender of this Certificate properly endorsed.
In Witness Whereof, the said Corporation has caused this
Certificate to be signed by its duly authorized officers and its Corporate Seal
is to be hereunto affixed this day of , A.D. .
Certificate
№ 430
For one Share(s)
Issued to
Dated ,
№ 430 Shares one
KmikeyM
This Certifies that is the registered holder of one Shares of
the Capital Stock transferable only on the books of the Corporation by the holder hereof in person or by
Attorney upon surrender of this Certificate properly endorsed.
In Witness Whereof, the said Corporation has caused this
Certificate to be signed by its duly authorized officers and its Corporate Seal
is to be hereunto affixed this day of , A.D. .
Certificate
№ 430
For one Share(s)
Issued to
Dated ,
№ 430 Shares one
KmikeyM
This Certifies that is the registered holder of one Shares of
the Capital Stock transferable only on the books of the Corporation by the holder hereof in person or by
Attorney upon surrender of this Certificate properly endorsed.
In Witness Whereof, the said Corporation has caused this
Certificate to be signed by its duly authorized officers and its Corporate Seal
is to be hereunto affixed this day of , A.D. .
Certificate
№ 430
For one Share(s)
Issued to
Dated ,
№ 430 Shares one
KmikeyM
This Certifies that is the registered holder of one Shares of
the Capital Stock transferable only on the books of the Corporation by the holder hereof in person or by
Attorney upon surrender of this Certificate properly endorsed.
In Witness Whereof, the said Corporation has caused this
Certificate to be signed by its duly authorized officers and its Corporate Seal
is to be hereunto affixed this day of , A.D. .
Certificate
№ 430
For one Share(s)
Issued to
Dated ,
№ 430 Shares one
KmikeyM
This Certifies that is the registered holder of one Shares of
the Capital Stock transferable only on the books of the Corporation by the holder hereof in person or by
Attorney upon surrender of this Certificate properly endorsed.
In Witness Whereof, the said Corporation has caused this
Certificate to be signed by its duly authorized officers and its Corporate Seal
is to be hereunto affixed this day of , A.D. .
Certificate
№ 430
For one Share(s)
Issued to
Dated ,
№ 430 Shares one
KmikeyM
This Certifies that is the registered holder of one Shares of
the Capital Stock transferable only on the books of the Corporation by the holder hereof in person or by
Attorney upon surrender of this Certificate properly endorsed.
In Witness Whereof, the said Corporation has caused this
Certificate to be signed by its duly authorized officers and its Corporate Seal
is to be hereunto affixed this day of , A.D. .
Certificate
№ 430
For one Share(s)
Issued to
Dated ,
№ 430 Shares one
KmikeyM
This Certifies that is the registered holder of one Shares of
the Capital Stock transferable only on the books of the Corporation by the holder hereof in person or by
Attorney upon surrender of this Certificate properly endorsed.
In Witness Whereof, the said Corporation has caused this
Certificate to be signed by its duly authorized officers and its Corporate Seal
is to be hereunto affixed this day of , A.D. .
RISK
BORING
PennTex Midstream Partners LP is a growth-oriented master limited partnership focused on owning,
operating, acquiring and developing midstream energy infrastructure assets.
The midstream natural gas industry is the link between the exploration and production of natural gas and the
delivery of the natural gas and its other components to industrial, commercial and residential users. PennTex
creates value at various stages along the natural gas value chain by gathering and processing natural gas
and natural gas liquids for delivery to transmission lines and ultimately the end-markets.
PennTex partners with customers to offer treating, gathering, processing, residue gas transmission and
liquids take away solutions tailored to each customer’s specific needs, including integration with existing
infrastructure.
PennTex’s Parent, PennTex Development (PennTex Midstream Partners, LLC) was founded in January of 2014
by Thomas F. Karam, CEO, Robert O. Bond, COO and Steven R. Jones, CFO with a substantial equity
commitment from Natural Gas Partners (NGP) to develop a multi-basin midstream growth platform, initially
focused on organic growth projects in partnership with oil and natural gas producers affiliated with NGP.
COMPLEXITY
RISK
BORING
OIO
CHROMA
COMPLEXITY
RISK
BORING
COMPLEXITY
RISK
BORING
COMPLEXITY
RISK
BORING
COMPLEXITY
RISK
BORING
INVESTING IN A
LOCAL STOCK
MARKET IS A
WONDERFUL IDEA*
*unless you’re a professional investing other people’s money

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The Stock Market Is a Terrible Idea

  • 2. 2 4 6 7 9 11 Q1 '14 Q2 '14 Q3 '14 Q4 '14 Q1 '15 Q2 '15
  • 3. iPhone 6 or iPhone 6+? Republican or Democrat? Mexico or Hawaii? Beard or Clean-shaven? Vasectomy or not? Exclusive relationship or keep dating?
  • 4. iPhone 6 or iPhone 6+? Republican or Democrat? Mexico or Hawaii? Beard or Clean-shaven? Vasectomy or not? Exclusive relationship or keep dating?
  • 5.
  • 6.
  • 7. INVESTING IN THE STOCK MARKET IS A TERRIBLE IDEA* *unless you’re a professional investing other people’s money
  • 9. Derivatives Collateralized debt obligationCredit default swaps ForwardsFutures Mortgage-backed securities Options Structured asset-backed security Tranches Spot contract Black-Scholes model Counterparties exchange Coupon Lock products
  • 10. Certificate № 430 For one Share(s) Issued to Dated , № 430 Shares one KmikeyM This Certifies that is the registered holder of one Shares of the Capital Stock transferable only on the books of the Corporation by the holder hereof in person or by Attorney upon surrender of this Certificate properly endorsed. In Witness Whereof, the said Corporation has caused this Certificate to be signed by its duly authorized officers and its Corporate Seal is to be hereunto affixed this day of , A.D. . Certificate № 430 For one Share(s) Issued to Dated , № 430 Shares one KmikeyM This Certifies that is the registered holder of one Shares of the Capital Stock transferable only on the books of the Corporation by the holder hereof in person or by Attorney upon surrender of this Certificate properly endorsed. In Witness Whereof, the said Corporation has caused this Certificate to be signed by its duly authorized officers and its Corporate Seal is to be hereunto affixed this day of , A.D. . Certificate № 430 For one Share(s) Issued to Dated , № 430 Shares one KmikeyM This Certifies that is the registered holder of one Shares of the Capital Stock transferable only on the books of the Corporation by the holder hereof in person or by Attorney upon surrender of this Certificate properly endorsed. In Witness Whereof, the said Corporation has caused this Certificate to be signed by its duly authorized officers and its Corporate Seal is to be hereunto affixed this day of , A.D. . Certificate № 430 For one Share(s) Issued to Dated , № 430 Shares one KmikeyM This Certifies that is the registered holder of one Shares of the Capital Stock transferable only on the books of the Corporation by the holder hereof in person or by Attorney upon surrender of this Certificate properly endorsed. In Witness Whereof, the said Corporation has caused this Certificate to be signed by its duly authorized officers and its Corporate Seal is to be hereunto affixed this day of , A.D. . Certificate № 430 For one Share(s) Issued to Dated , № 430 Shares one KmikeyM This Certifies that is the registered holder of one Shares of the Capital Stock transferable only on the books of the Corporation by the holder hereof in person or by Attorney upon surrender of this Certificate properly endorsed. In Witness Whereof, the said Corporation has caused this Certificate to be signed by its duly authorized officers and its Corporate Seal is to be hereunto affixed this day of , A.D. . Certificate № 430 For one Share(s) Issued to Dated , № 430 Shares one KmikeyM This Certifies that is the registered holder of one Shares of the Capital Stock transferable only on the books of the Corporation by the holder hereof in person or by Attorney upon surrender of this Certificate properly endorsed. In Witness Whereof, the said Corporation has caused this Certificate to be signed by its duly authorized officers and its Corporate Seal is to be hereunto affixed this day of , A.D. . Certificate № 430 For one Share(s) Issued to Dated , № 430 Shares one KmikeyM This Certifies that is the registered holder of one Shares of the Capital Stock transferable only on the books of the Corporation by the holder hereof in person or by Attorney upon surrender of this Certificate properly endorsed. In Witness Whereof, the said Corporation has caused this Certificate to be signed by its duly authorized officers and its Corporate Seal is to be hereunto affixed this day of , A.D. .
  • 11. Certificate № 430 For one Share(s) Issued to Dated , № 430 Shares one KmikeyM This Certifies that is the registered holder of one Shares of the Capital Stock transferable only on the books of the Corporation by the holder hereof in person or by Attorney upon surrender of this Certificate properly endorsed. In Witness Whereof, the said Corporation has caused this Certificate to be signed by its duly authorized officers and its Corporate Seal is to be hereunto affixed this day of , A.D. . Certificate № 430 For one Share(s) Issued to Dated , № 430 Shares one KmikeyM This Certifies that is the registered holder of one Shares of the Capital Stock transferable only on the books of the Corporation by the holder hereof in person or by Attorney upon surrender of this Certificate properly endorsed. In Witness Whereof, the said Corporation has caused this Certificate to be signed by its duly authorized officers and its Corporate Seal is to be hereunto affixed this day of , A.D. . Certificate № 430 For one Share(s) Issued to Dated , № 430 Shares one KmikeyM This Certifies that is the registered holder of one Shares of the Capital Stock transferable only on the books of the Corporation by the holder hereof in person or by Attorney upon surrender of this Certificate properly endorsed. In Witness Whereof, the said Corporation has caused this Certificate to be signed by its duly authorized officers and its Corporate Seal is to be hereunto affixed this day of , A.D. . Certificate № 430 For one Share(s) Issued to Dated , № 430 Shares one KmikeyM This Certifies that is the registered holder of one Shares of the Capital Stock transferable only on the books of the Corporation by the holder hereof in person or by Attorney upon surrender of this Certificate properly endorsed. In Witness Whereof, the said Corporation has caused this Certificate to be signed by its duly authorized officers and its Corporate Seal is to be hereunto affixed this day of , A.D. . Certificate № 430 For one Share(s) Issued to Dated , № 430 Shares one KmikeyM This Certifies that is the registered holder of one Shares of the Capital Stock transferable only on the books of the Corporation by the holder hereof in person or by Attorney upon surrender of this Certificate properly endorsed. In Witness Whereof, the said Corporation has caused this Certificate to be signed by its duly authorized officers and its Corporate Seal is to be hereunto affixed this day of , A.D. . Certificate № 430 For one Share(s) Issued to Dated , № 430 Shares one KmikeyM This Certifies that is the registered holder of one Shares of the Capital Stock transferable only on the books of the Corporation by the holder hereof in person or by Attorney upon surrender of this Certificate properly endorsed. In Witness Whereof, the said Corporation has caused this Certificate to be signed by its duly authorized officers and its Corporate Seal is to be hereunto affixed this day of , A.D. .
  • 12. RISK
  • 13.
  • 14.
  • 15.
  • 17.
  • 18. PennTex Midstream Partners LP is a growth-oriented master limited partnership focused on owning, operating, acquiring and developing midstream energy infrastructure assets. The midstream natural gas industry is the link between the exploration and production of natural gas and the delivery of the natural gas and its other components to industrial, commercial and residential users. PennTex creates value at various stages along the natural gas value chain by gathering and processing natural gas and natural gas liquids for delivery to transmission lines and ultimately the end-markets. PennTex partners with customers to offer treating, gathering, processing, residue gas transmission and liquids take away solutions tailored to each customer’s specific needs, including integration with existing infrastructure. PennTex’s Parent, PennTex Development (PennTex Midstream Partners, LLC) was founded in January of 2014 by Thomas F. Karam, CEO, Robert O. Bond, COO and Steven R. Jones, CFO with a substantial equity commitment from Natural Gas Partners (NGP) to develop a multi-basin midstream growth platform, initially focused on organic growth projects in partnership with oil and natural gas producers affiliated with NGP.
  • 19.
  • 21.
  • 22. OIO
  • 23.
  • 25.
  • 26.
  • 31. INVESTING IN A LOCAL STOCK MARKET IS A WONDERFUL IDEA* *unless you’re a professional investing other people’s money