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In the 2010s, Kurt Wulff is in his sixth decade of analyzing
opportunities in the oil and gas industry. The founder of McDep LLC
recommends investment ideas among oil and gas stocks globally, from
large integrated oil companies to small cap and income stocks. McDep
LLC’s clients are institutional, corporate and individual investors.
Posted 3-5 weeks after being sent to clients in real-time, historical
research since 2000 is publicly accessible on
www.mcdep.com.
During
the 2000s, the
McDep Buy List at the end of 2002 gained 40% a year to the end of 2007.
The declining market of 2008 took a toll by reducing performance to 29%
a year for the five years ended September 5, 2008 when Mr. Wulff
suspended all buy recommendations. Also in
a five-year program administered by Independent Consultants, McDep LLC
was selected as an Independent Research Provider to six Investment Banks
who provided their clients with McDep opinions on oil and gas stocks.
For most of the 1990s, the McDep analyst was a pioneer in earning
payment for his work through broker-dealers who provide third party
independent research in exchange for
“soft
dollars”.
McDep Associates Inc., predecessor of McDep LLC, had been formed for
that purpose in 1988.
During
the late 1990s, Mr. Wulff analyzed Canadian oil and gas stocks for Smith
Barney and also was the director of research for a consulting firm
before returning to McDep.
Kurt Wulff made his initial investment reputation as an oil analyst
while at Donaldson, Lufkin & Jenrette where his recommendations from
1973 to 1986 gained a median 28% a year. During the takeover battles of
the 1980s, he identified megadeals in advance for investors. He advised
Gordon Getty, Carl Icahn and Boone Pickens. He testified before
Congress on energy and takeover issues. As a DLJ analyst, Kurt Wulff
was named to the All-America Research Team 25 times in oil,
exploration and natural gas.
In the 1960s, Kurt Wulff started his career as an engineer with Chevron
in San Francisco. He later joined a Cambridge, Massachusetts consultant
where he advised international corporations as well as the governments
of Alaska, Algeria, and the U.S. Born in Wisconsin, he earned degrees
of Bachelor of Science in Chemical Engineering from the University of
Wisconsin and Master in Business Administration from Harvard University.
Mr. Wulff wrote with Bill Bruns, How to Profit from the Coming Oil
Crisis, a book published by Bertelsmann three years before Saddam
Hussein’s
invasion of Kuwait. Featured in Barron’s,
Institutional Investor, Business Week and Oil and Gas
Investor, he has been a guest on Bloomberg, Nightly
Business Report, CNBC, CNN, and Wall Street Week
with Louis Rukeyser. He is a past president of the National
Association of Petroleum Investment Analysts. A Chartered Financial
Analyst, Mr. Wulff belongs to the CFA Institute, the CFA Society of
Boston and the Boston Economic Club.
As an activist, he sponsored shareholder resolutions credited with
bringing confidential voting to the proxy process at major oil
companies, among other reforms. Testifying in Delaware Court on behalf
of retirement investors, Kurt Wulff helped beneficiaries of an oil company
employee pension plan win a judgment that was the largest of its kind up
to that time. For the San Juan Basin Royalty Trust, his nomination of
the successor trustee was approved by special vote of all unitholders. |
