As the first offering from the comprehensive Fisher Investments On investing series from Fisher Investments Press, editors Aaron Azelton and Andrew Teufel demonstrate how to integrate the energy sector into a more comprehensive portfolio strategy. This reliable resource draws on the same insight and research Fisher Investments uses in managing assests for high-net-worth individuals and institutions globally. The book benefits 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 how professional analysts uncover 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 will provide readers with a solid foundation in this sector and show them how to profit from it.

Table of Contents:

Foreword.
Preface.
Acknowledgments.

Part 1. Getting Started in Energy.

Chapter 1. Energy Basics.

Oil & Gas Industry.

Energy Equipment & Services Industry.

Chapter 2. What Makes Energy Burn: Key Drivers of the Energy Sector.

Oil Demand Drivers.
Oil Supply Drivers.
Natural Gas Demand Drivers.
Natural Gas Supply Drivers.
Additional Drivers.

Part 2. Next Steps: Energy Details.

Chapter 3. Energy Sector Breakdown.

Global Energy Benchmarks.
Oil, Gas & Consumable Fuel Industry.
Energy Equipment & Services Industry.
Sub-Industry Drivers.

Chapter 4. Why We'll Never Run Dry.

The World Will Never Run Out of Oil.
The Tipping Point?
Peak Oil and You.
Peak Oil Reading.

Chapter 5. Staying Current: Tracking Industry Fundamentals.

Crude Oil Market Fundamentals.
Natural Gas Market Fundamentals.
Refining Margin Fundamentals.
Energy Equipment & Services Fundamentals.

Chapter 6. Alternative Energy.

What Is Alternative Energy?
Alternative Energy Drivers.
Alternative Energy Investment Universe.

Part 3. Thinking Like a Portfolio Manager.

Chapter 7. The Top-Down Method.

Investing Is a Science.
Einstein's Brain and the Stock Market.
The Top-Down Method.
Top-Down Deconstructed.
Managing Against an Energy Benchmark.

Chapter 8. Security Analysis.

Make Your Selection.
A Five-Step Process.
Important Questions to Ask.

Chapter 9. Energize Your Portfolio.

Strategy 1: Commoditize.
Strategy 2: Playing Sub-Industries.
Strategy 3: Company Bets.
More Sub-Industry Tips.

Appendix: Energy Sector Resources.
Notes.
Glossary.
About the Authors.
Index.

Author Information:

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 BA in economics. Azelton has been with Fisher Investments since 2002. He 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. Teufel is a graduate of the University of California at Berkeley, and has lectured at the Haas School of Business on topics in investment management. He has conducted hundreds of investment seminars and educational workshops throughout the United States and the United Kingdom. Teufel also serves as Editor in Chief of MarketMinder.com.

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