At Atmosphere, we view many sectors of the energy industry as interlinked, and thus, we seek to invest in companies based on a holistic, fundamental analysis of both the industry and the role that individual companies play.
Clearly, tracking global and regional macro data on the energy industry is critical to success. We then assess the drivers of value for various commodities including oil, natural gas, refined petroleum products, coal, and power. The third overlay is evaluating key trends in the industry such as technology, availability of capital, and the prevailing political winds. Having formed a broad overview of the investing landscape, we then seek to develop a deep, fundamental understanding of the relevant companies and their assets in order to identify the most likely winners and losers.