Roger Conrad

Managing Partner,

Capitalist Times

  • Co-Founder and Chief Editor of Capitalist Times
  • Publisher of Energy and income Advisor and Conrad's Utility Investor
  • MoneyShow Contributor Since 1989

About Roger

Roger Conrad has successfully advised income investors since the 1980s, with a nationally acclaimed sector specialty in utilities, telecommunications, and energy. He's a managing partner at Capitalist Times LLC and author of the book Power Hungry: Strategic Investing in Telecommunications, Utilities, & Other Essential Services. Mr. Conrad is also an independent director of NYSE-listed Miller Howard High Income Equity Fund and contributing editor to

Roger's Articles

With money market funds and CDs paying 5 percent plus, many investors are asking how dividend stocks can compete on yield. The far more relevant question: How they stack up on total return over a meaningful period of time. And on this score, cash alternatives don’t come close to matching up. I like Essential Utilities (WTRG) here, writes Roger Conrad, editor of Conrad’s Utility Investor.
In July 2017, Avista Corp (AVA) — a new holding in our aggressive portfolio — accepted an all-cash takeover offer of $53 per share from Canadian utility Hydro One (Toronto: H); then followed basically a year and a half of futility, recalls Roger Conrad, editor of Conrad's Utility Investor.
The Dow Jones Utility Average finished 2022 more than 20 percentage points ahead of the S&P 500. So far this year, however, utilities are lagging by roughly the same amount. But the record is equally clear that so long as earnings and balance sheets stay solid, damage to stocks will be relatively mild and short-lived. Brookfield Renewable Partners (BEP) is my best fresh money buy for conservative investors here, notes Roger Conrad, editor of Conrad’s Utility Investor.
The bulls envision a world where AI is used to augment productivity to transform pretty much every industry. Yet at least so far, there’s been little attention paid to the immense volumes of energy and communications bandwidth to support ubiquitous AI chatbots needed to make that dream a reality. Consider the case of MDU Resources (MDU), writes Roger Conrad, editor of Conrad’s Utility Investor.

Roger's Videos

Resilient inflation means the tightest Fed policy since the 1980s isn't likely to reverse until the US economy enters a real recession. And that means the risk of another big leg down for stocks and bonds is rising daily. But there's also an emerging opportunity for investors to lock in monster returns, while others' portfolios evaporate. Here's where to look.

Most income investors live in deadly fear of inflation. And they should—if they're relying on popular buy and basket strategies. But income seekers who take control of their wealth now will unlock the highest, safest, and fastest growing yields in decades. Roger Conrad shares his strategies and top picks for learning to love inflation.

Energy stocks have beaten the S&P 500 by 85 percentage points since the end of 2021 alone. In this presentation, Roger Conrad and Elliott Gue will explain why the sector's run is just getting started and why energy commodity prices are likely to remain elevated for years as part of a price supercycle driven by chronic supply shortfalls. Mr. Conrad and Mr. Gue will also outline a handful of the most powerful trends they are watching in energy and their top recommendations in the energy patch for both income and growth potential.

After a more than a seven-year bear market, energy stocks are again the market leaders. Energy and Income Advisor readers have enjoyed multiple opportunities to buy very low the past two years, starting with our bottom tick call in April of 2020 and more recently our six top picks for 2022. That group has beaten the S&P 500 by almost 50% year-to-date.

Amazingly, the emerging conventional wisdom is that the days of $100 plus oil are numbered. And once fallout from Russia's invasion of Ukraine loses its sting, prices will come crashing back to earth, as oil and gas are replaced by wind, solar, and electric vehicles.

The result: your last, best chance to buy high-quality energy stocks cheap, including producers likely to double from these prices, midstream companies yielding nearly 9% that are once again hiking payouts at double-digit percentage rates, and takeover targets in line to bag offers as much as 50% above current prices, within a matter of months.

In this discussion, we will:

  • Highlight the drivers of the energy stock returns and where this super cycle is likely to peak.
  • Unveil our four top energy picks for the rest of 2022 and beyond.
  • Unmask energy stocks you'll still want to avoid.
  • Answer your questions about all things energy.

Newsletter Contributions

Conrad's Utility Investor

Roger Conrad has provided in-depth analysis of the utility sector to individual and institutional investors for more than 20 years. Conrad's Utility Investor is your complete guide to building a lifelong income stream from stocks that provide essential services.

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