Fisher Investments on Energy (Fisher Investments Press) [Paperback]

Fisher Investments (Author), Andrew Teufel (Author), Aaron Azelton (Author)

Book Description

Publication Date: February 3, 2009 | Series: Fisher Investments Press (Book 1)

The first offering from the Fisher Investments On investing series is a comprehensive guide to the Energy sector. The book can benefit both new and seasoned investors, covering everything from Energy sector basics to specific industry insights to practical investing tactics, including common pitfalls to avoid. Azelton and Teufel demonstrate a method for uncovering performance and risk-management opportunities—and show the readers how they can do it, too. Filled with detailed graphs and tables, unique insight, and practical advice, Fisher Investments on Energy can provide readers with a solid foundation in this sector.

For more information visit www.energy.fisherinvestments.com

Editorial Reviews

From the Back Cover

The Fisher Investments on series is designed to provide individual investors, aspiring investment professionals, and students the tools necessary to understand and analyze investment opportunities—primarily for investing in global stocks. Each guide is an easily accessible primer to economic sectors, regions, or other components of the global stock market. While this guide specifically focuses on Energy, the basic investment methodology is applicable for analyzing any global sector, regardless of the current macroeconomic environment.

Following a top-down approach to investing, Fisher Investments on Energy can help you make more informed decisions within the Energy sector. It skillfully addresses how to approach your portfolio's Energy allocation, how to determine which Energy sub-industries have the potential to perform well, and how individual stocks can benefit in various environments. The global Energy sector is complex, covering multiple sub-industries and countries—each with unique characteristics. Using the framework found here, you can discover how to identify these differences, spot opportunities, and avoid major pitfalls.

Divided into three comprehensive parts—Getting Started, Energy Details, and Thinking Like a Portfolio Manager—Fisher Investments on Energy:

• Discusses Energy's drivers, including all the supply and demand components of its main drivers—oil and natural gas prices

• Takes you through the seven sub-industries within the global Energy sector and reveals how they operate

• Addresses the challenges of today's Energy sector, including peak oil and alternative energy

• Delves into top-down investment methodology as well as individual security analysis

• Outlines a five-step process to help differentiate firms in this field—designed to help you identify ones with the greatest probability of outperforming

• Provides investment strategies for a variety of market environments

Filled with in-depth insights and expert advice, Fisher Investments on Energy provides a framework for understanding this sector and its industries, to help you make better investment decisions—now and in the future. With this book as your guide, you'll gain a global perspective of the Energy sector in your quest to achieve consistent success in it.

About the Author

Aaron M. Azelton (San Francisco, California) is an equity research analyst covering the Energy sector at Fisher Investments. He graduated from the University of California at Berkeley with a B.A. in Economics. He has been with Fisher Investments since 2002. Aaron grew up in Santa Monica, California, and is currently living in San Francisco.

Andrew S. Teufel (San Francisco, California) has been a member of Fisher Investments research staff since 1995 and is currently Co-President and Director of Research. Prior to joining the firm, he worked at Bear Stearns as a corporate finance analyst. He is a graduate of the University of California at Berkeley, and has lectured at the Haas School of Business on topics in investment management. Andrew has conducted hundreds of investment seminars and educational workshops throughout the US and the United Kingdom. He also serves as Editor-in-Chief of MarketMinder.com.

Product Details

• Paperback: 255 pages
• Publisher: Wiley; 1 edition (February 3, 2009)
• Language: English
• ISBN-10: 0470285435
• ISBN-13: 978-0470285435
• Product Dimensions: 6 x 0.9 x 9.1 inches
• Shipping Weight: 12 ounces (View shipping rates and policies)
• Average Customer Review: 3.5 out of 5 stars  See all reviews (2 customer reviews)
• Amazon Best Sellers Rank: #739,878 in Books (See Top 100 in Books)

More About the Author

Fisher Investments Press

In 2008, Fisher Investments and John Wiley & Sons, Inc. created a partnership and new publishing imprint called Fisher Investments Press. Various authors from the Fisher Investments research team, under the direction of CEO Ken Fisher and Vice Chairman Andrew Teufel , have authored several titles under the imprint, including the Fisher Investments On series of investing guides, 20/20 Money (2009), and Own the World (2009). Ken Fisher has authored additional publications under the Fisher Investments Press imprint including Debunkery (2010), How to Smell a Rat (2009), and The Ten Roads to Riches (2008).

Background of Fisher Investments Press

Ken Fisher, CEO of Fisher Investments, best-selling author and well known columnist, has been giving financial advice through his business practice and writings for over three decades. He began writing for Forbes magazine in 1984 and continues to write the prestigious "Portfolio Strategy" column today. In fact, Ken Fisher is currently the fourth longest-running columnist in Forbes 90-plus year history. Ken Fisher also writes international columns for Germany's Focus magazine, and the UK publication Interactive Investor, and has contributed articles and innovative research to many trade and mainstream publications globally. In 2010, he was named by Investment Advisor magazine as one of the 30 most influential industry individuals in the last 30 years.*
Ken Fisher published his first book, the best-selling Super Stocks, in 1984, which popularized the now widely-used Price to Sales Ratio, as Ken Fisher illustrated its application for successful stock picking. In 1987, Ken Fisher published The Wall Street Waltz, a financial picture book illustrating key events in the stock market's history. He later went on to publish 100 Minds that Made the Market in 1991, an entertaining look at individuals who made notable contributions to modern finance. In 2006, John Wiley & Sons published Ken Fisher's bestselling book, The Only Three Questions that Count, which presented a new framework for stock market investing, approaching it as a science rather than a craft. The following year, Wiley re-released both The Wall Street Waltz and 100 Minds that Made the Market under the Fisher Investments Series.

About Fisher Investments CEO Ken Fisher

Ken Fisher currently resides in Woodside, CA with his wife Sherrilyn. He serves as CEO and Chief Investment Officer of Fisher Investments, an independent money management firm managing tens of billions of dollar, serving tens of thousands of high net worth individuals, as well as many pensions, foundations and endowments globally. Fisher Investments is headquartered in Woodside, CA with operations throughout the United States. Fisher Investments also has a wholly-owned subsidiary, Fisher Investments UK, in the United Kingdom, and a joint-venture affiliate, Grüner Fisher Investments GmbH, in Germany.

Ken Fisher is currently a top-ranked market forecaster by independent third-party research firm CXO Advisory Group**, and is #252 on the 2010 Forbes 400 list of richest Americans.

More Fisher Investments Publishing Resources

Fisher Investments also publishes a web magazine or "webzine" located at www.marketminder.com with daily news and commentary. Each day, its editorial staff scours hundreds of newspapers, magazines and blogs, bringing investors only the most important news - along with insightful commentary. In the Ken Fisher tradition, Fisher Investments' MarketMinder challenges common media myths and provides unique perspective and research-backed analysis, designed to help individuals make better investing decisions.


*http://www.advisorone.com/article/thirty-thirty

** Ranking as of 2/23/11 and can be found at http://www.cxoadvisory.com/gurus. Fisher Investments has no affiliation with CXO Advisory Group. Market calls represent Ken Fisher's personal forecasts of the overall market as published in Forbes magazine and do not represent the performance of Fisher Investments or any of its clients. Past performance is no guarantee of future returns.

Customer Reviews

Most Helpful Customer Reviews

16 of 19 people found the following review helpful:

2.0 out of 5 stars Good overview but not much specifics, September 24, 2009

By 

moneymanager (Rhode Island) - See all my reviews

Amazon Verified Purchase

This review is from: Fisher Investments on Energy (Fisher Investments Press) (Paperback)

The book covers the energy sector but it should be re-titled "Fisher Investments on Oil" because this is what the majority of the book is about. It covers some natural gas and coal fundamentals but only to a small extent, mostly delving into how these are driven by regional factors and not global factors.

The first 60 pages goes over the oil fundamentals and the different types of companies out there (exploration, service companies, etc.), what the difference between upstream and downstream are, which are most sensitive to the price of oil and which are more stable with respect to stock price volatility, what are dayrates for rigs, etc. If you don't know the basics, its actually a very good tutorial and even a good review if you do now the fundamental. But then, like a lot of other books, it repeats itself for the next 60 pages by breaking down the oil industry subsectors and once again going over the same fundamentals stated in the first 60 pages. But there is nothing on how to value the companies or rate the companies with respect to performance

With the rest of the book you get facts here and there about natural gas and coal. You also get a quick look at the new energy sources (solar, wind, etc.) and why they won't work, at least not right away. Then in the final 1/4 of the book you get a tutorial about benchmarking against an index, how to do top-down analysis to bet which way the sector will move, etc. If you've read a Ken Fisher book before, its basically a pitch for his stock picking method,but at least without any ads for his firm.

If you know absolutely nothing about oil, oil services, rigs, etc., then this easy to read book (can easily read in a day) is a great intro to oil and would probably rate 4 stars instead. If you already now enough to understand half of what is said during an oil company conference call, then there probably aren't enough specifics here to be that interesting and it is too much overview; you are better off just looking things up on the web or reading through a 10-K,

2 of 2 people found the following review helpful:

5.0 out of 5 stars Solid Introduction to Energy Business, March 16, 2010

By 

TJ SCHOENLEIN "Yaiwolf" (BANGKOK, THAILAND) - See all my reviews
(REAL NAME)   

This review is from: Fisher Investments on Energy (Fisher Investments Press) (Paperback)

This is a good introduction to the energy business. Without being redundant, you can read the product information above, and the other reviewed comments.

I just finished reading the book today and found a wealth of good information which one needs to know if you are going to invest in this business. If you know ( or think you know) all about the oil/gas business then take a pass.

For me, understanding "up/mid/down" stream businesses and all the pieces that work together was very helpful. The book covers world hydrocarbon reserves, who has it/who doesn't. Want to know about oil sands/oil shale.. it's here just for starters. Just a good.. easy to read/understandable book.