Josh Young: Energy Value Chain Analysis (Offshore & Onshore)

This week our guest is the number one performing manager from last year the one and only Josh Young, from Bison Interest. During our conversation we talk all things about the Onshore and Offshore Energy Space, the most common mistakes naive investors make, managing an energy portfolio and position sizing, what are Drilled but Uncompleted and what are some of Josh’s favorite books.

• [0:00] Introduction and book recommendations.
• [8:00] The onshore space
• [18:00] How to approach the onshore value chain ($VTLE, $DVN)
• [33:00] Common Mistakes naive investors make.
• [36:00] Drilled but Uncompleted (DUC) Wells
• [44:00] The Offshore Space
• [1:02:00] Portfolio Management: Position Sizing
• [1:07:00] Hurdle Rates
• [1:17:00] A day in the life with Josh Young
• [1:21:00] Closing Question and More From Josh Young

If you enjoyed the podcast, please follow Josh on Twitter here. Also check out his new Substack here.

Finally, a big thanks to the following sponsors for making the podcast a reality!

Mitimco

This episode is brought to you by MIT Investment Management Company, also known as MITIMCo, the investment office of MIT. Each year, MITIMCo invests in a handful of new emerging managers who it believes can earn exceptional long-term returns to support MIT's mission. To help the emerging manager community more broadly, they created emergingmanagers.org, a website for emerging manager stockpickers.

For those looking to start a stock-picking fund or just looking to learn about how others have done it, I highly recommend the site. You'll find essays and interviews by successful emerging managers, service providers used by MIT's own managers, essays MITIMCo has written for emerging managers, and more!

Tegus

Tegus has the world’s largest collection of instantly available interviews on all the public and private companies you care about. Tegus actually makes primary research fun and effortless, too. Instead of weeks and months, you can learn a new industry or company in hours, and all from those that know it best.

I spend nearly all my time reading Tegus calls on existing holdings and new ideas. And I know you will too. So if you’re interested, head on over to tegus.co/valuehive for a free trial to see for yourself.

TIKR

TIKR is THE BEST resource for all stock market data, I use TIKR every day in my process, and I know you will too. Make sure to check them out at TIKR.com/hive.