Near the end it sounds like he says perfectly illegal to do so. Did anyone else hear that?

Second off, it also sounds like the investor is expected to make a one time investment that will not grow, because if they put the limit every year, or reinvest distributions over twenty years, or Gov changes the ratio. UBTI might indeed become a problem from putting the wrong security in a sheltered retirement account.

What about a Roth, is UBTI a problem there. What different effects does Death have on if it is in, or out of a sheltered account?

If everyone coming in knew the ideal Kinder Morgan for their situation we would not continue to have this legacy of people who own the security in the wrong account.

Kinder Morgan, Inc. (NYSE: KMI) in an IRA.

Kinder Morgan Management, LLC (NYSE: KMR) for Investors who want to take the income out, but at the same time leave the principal and remaining earnings intact for heirs, should hold it outright.