Instead of picking up shares at company's IPO, many Fools advise watching a newly public entity for a few quarters before buying in. One of the biggest reasons why has to do with management. Ever so intangible, listening in on a couple of those early conference calls gives you the opportunity to gauge management's transparency, vision for the future, and plain old ability to communicate the partnership's performance and goals to shareholders.

That thinking is exactly what's behind today's video, as contributor Aimee Duffy talks to Tyler Crowe about two new master limited partnerships that recently held their first earnings calls: Phillips 66 Partners (NYSE:PSXP) and Marlin Midstream Partners (NASDAQOTH:AZUR).

Fool contributors Aimee Duffy and Tyler Crowe have no position in any stocks mentioned. Nor does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.