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ZEB Turns 4!

This is free Post for September 12, 2010

Thanks for making the last four years an excellent ride! I've been writing my newsletter for four years this month and have been pleased with the quality of interaction and analysis that the subscribers have brought to it. I learn by teaching and the subscribers have taught me quite a lot in the process.

Year 1 was free to the world to build up interest in my corner of the internet.  My objective was to create a place where people could rationally discuss energy ideas … basically the opposite of your usual message board. 

Year 2 we went pay for subscription and membership was surprisingly strong and high quality.

Year 3 I started tracking my performance for stocks and opened up a SEP account as every tax fearing self-employed person should do.  I started focusing more on the long term with stocks being the bigger focus than options for the site.

Year 4 has been a water treading year for options but another good year for the stocks.

I research and invest in energy related stocks in a number of portfolios, primarily but not limited to  the Exploration & Production realm. Oil Service, Coal, Refining and the Majors also make occasional appearances in the portfolios. While I do trade options they represent only a small wedge of my energy focused assets, about 10 to 15% at a given time, as options trading is a tricky game where market forces and timing is as important as being right on the name in question. When options trades work that's great, but they are the icing – not the cake. 

The cake is the The ZLT, (Zman Long Term Portfolio).  It is a stocks only, longer range portfolio. Below please find returns for Portfolio A and Portfolio B.

  • Portfolio A is a taxable account and run with a little more of a buy and hold strategy. It has had a total 17— trades (entries and exits), including the initial five to get it invested, over the last 26 months. 
  • Portfolio B is a non-taxable account but has been only slightly more active. 
  • Generally the portfolios have held between 4 and 7 positions at a time.
  • All of the stocks in the portfolios have been listed on Zman's Energy Brain and emailed to subscribers as ZTRADEs in the ZLT at the time they occur.
  • Both Portfolios were started in mid 2008, just after the peak in the broad markets and what turned out to essentially be the all time highs for crude oil and natural gas.
  • The returns are not modeled. They are mine. 

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Disclosure: I own all positions mentioned in the ZLT