67 WALL STREET, New York - April 4, 2013 - The Wall Street Transcript has just published its Oil & Gas: Master Limited Partnerships Report offering a timely review of the sector to serious investors and industry executives. This special feature contains expert industry commentary through in-depth interviews with public company CEOs, Equity Analysts and Money Managers. The full issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.
Topics covered: Increasing Demand for Midstream Assets - U.S. Energy Infrastructure Build Out - Emerging Shale Plays - Oil and Gas Transportation Infrastructure Demand - Master Limited Partnerships Distribution Growth - Outlook for Natural Gas Liquids - Low Treasury Yields and MLP Dividends
Companies include: Walt Disney Co. (DIS), American Tower Corp. (AMT), Boeing Co. (BA), Chesapeake Energy Corporation (CHK), Devon Energy Corporation (DVN), Union Pacific Corp. (UNP) and many more.
In the following excerpt from the Oil & Gas: Master Limited Partnerships Report, an experienced portfolio manager discusses his investment philosophy and 2013 picks for investors:
TWST: If you would, please start by introducing J.S. Oliver to our readers with a brief history and an overview of the firm today.
Mr. Mausner: I've been in the investment business for 27 years, always advising individuals and families of substantial wealth. I was with several very large firms, starting with Morgan Stanley and culminating with Montgomery Securities, and then in 2004 I started J.S. Oliver, my own firm, continuing that same business line, which was running discretionary money for high net worth individuals and families through both separate accounts as well as a fund, and also doing advisory work where we advise families on their comprehensive financial needs. So we've been doing that now almost 10 years. I went to Stanford Business School, where I got my M.B.A., and as I said I've been in the industry now for 27 years.
TWST: Would you give us a snapshot of the various funds the firm manages?
Mr. Mausner: We have one strategy only. We have offshore and domestic and that kind of thing for tax reasons, but our philosophy and discipline is just one discipline, and that is long/short, focusing on the growth areas of the domestic economy. We focus just on U.S. stocks. The sectors that we focus mostly on are technology, health care, financial services and consumer nondurables.
TWST: Is there anything you'd add in terms of your investment strategy or philosophy?
Mr. Mausner: We are very sensitive to valuation. We definitely have a bottom-up approach in that we do deep research on individual companies, but we layer on top of that an overall macro view. We always have an opinion on the overall environment, and that guides us on whether or not we'll be fully invested - and more long or more short.
Fortunately, for the last year and a half to two years we've been very, very bullish. We never believed that the euro crisis was a real one; we thought it was more fabricated and blown out of proportion by the press. Even this most recent Cyprus fiasco - we just don't believe that it's very real. Whereas the underlying fundamentals in the United States are as positive, in our opinion, as they've been since the early 1980s, including - as part of that overall story - the emerging U.S. energy independence, which is arguably the most significant economic development of our lifetimes...
For more of this interview and many others visit the Wall Street Transcript - a unique service for investors and industry researchers - providing fresh commentary and insight through verbatim interviews with CEOs, portfolio managers and research analysts. This special issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.
- Investment & Company Information
- Master Limited Partnerships
- Chesapeake Energy Corporation
- Devon Energy Corporation