is a Research Analyst at Fisher Investments. Theodore graduated from the University of Colorado, Boulder, with a bachelor's degree in international affairs. He currently resides in San Francisco, California.
ANDREW S. TEUFEL has been with Fisher Investments since 1995, where he currently serves as a Vice Chairman. Prior to joining Fisher Investments, he worked at Bear Stearns as a corporate finance analyst in its Global Technology Group. Andrew also instructs at many seminars and educational workshops throughout the United States and United Kingdom, and has lectured at the Haas School of Business at UC Berkeley. He is also the Editor in Chief of MarketMinder.com. Andrew is a graduate of UC Berkeley.
Part I Getting Started in Utilities.
Chapter 1 Utilities Basics.
A Defensive Sector.
What Makes Utilities Defensive?
Chapter 2 A Brief History of the Electric Utilities Industry.
Early Development in the United States (1882-1935).
A Maturing Industry (1935-1978).
Market Liberalization and a New Set of Rules (1978-2009).
An Auspicious Start to the Twenty-First Century.
Part II Next Steps: Utilities Details.
Chapter 3 Utilities Sector Composition.
Global Industry Classifications Standards (GICS).
Global Utilities Benchmarks.
Why Don't Utilities Have More Weight?
Chapter 4 The Electricity Business in Depth.
The Consumer: Who Uses Electricity?
The Vertically Integrated Electric Utility.
Chapter 5 Utilities Sector Drivers.
Chapter 6 Utilities Investing in a Resource-Conscious World.
Part III Thinking Like a Portfolio Manager.
Chapter 7 The Top-Down Method.
Investing Is a Science.
The Top-Down Method.
Managing Against a Utilities Benchmark.
Chapter 8 Security Analysis.
Make Your Selection.
A Five-Step Process.
Chapter 9 Utilities Investing Strategies.
Adding Value at the Sector Level.
Adding Value at the Country or Industry Level.
Adding Value at the Security Level.
About the Authors.