Opportunities in Energy Infrastructure
Thursday, September 27, 2012
Speaker: James J. Murchie
Energy Income Partners, LLC
Chairs: Ryan Buckmaster, CFA and Rama Malladi, CFA
In this presentation, James J. Murchie will discuss the following:
• What is the outlook for shale gas?
• Will the US ever export natural gas?
• What is the best way to take advantage of the renaissance in US oil production?
• How do you make money “selling pick-axes to the miners?”
EIP believes that the best risk-adjusted returns in commodity businesses come from companies that make steady, low double-digit returns for providing a mundane service. Imposing capital discipline on these companies through a forced payout of most of their free cash flow keeps income coming to their investors.
James Murchie founded EIP in 2003 and is the portfolio manager for all of its funds, which focus on energy-related master limited partnerships, income trusts and similar securities. From 2005 to mid-2006, Mr. Murchie and the EIP investment team were affiliated with Pequot Capital Management. In July 2006, EIP re-established its independence. Previously, Mr. Murchie managed a long/short equity fund that invested in energy and cyclical equities as well as commodities, as head of Lawhill Capital. He was also a managing director at Tiger Management where his primary responsibility was investments in energy, commodities and related equities. Mr. Murchie was also a principal at Sanford C. Bernstein where he was a top-ranked energy analyst and sat on the Research Department’s Recommendation Review Committee. Before joining Bernstein, Mr. Murchie spent 8 years at British Petroleum.
Mr. Murchie has served on the board of Clark Refining and Marketing Company and as President and Treasurer of the Oil Analysts Group of New York. Mr. Murchie holds a BA in History and Anthropology from Rice University and an MA in Energy Planning from Harvard University.
As a participant in the CFA Institute Approved-Provider Program, the
CFA Society of Los Angeles has determined that this program qualifies
for 1 credit hours. If you are a CFA Institute member, CE credit for
your participation in this program will be automatically recorded in your CE Diary.
Registration Links (Must Register to Attend):
CFALA Members: $0.00
Time: 12:30pm – 2:30pm (Buffet Luncheon begins at 12:30pm and the presentation starts at 1:30pm)
Location: Hyatt Regency Century Plaza
2025 Avenue of the Stars
Los Angeles, CA 90067
Parking: Hosted Valet