Issue No 146 | September 8, 2025
September is often the cruelest month for the stock market. And it’s been a long time—17 years in fact—since Wall Street produced a bear market with the magnitude and duration to crush investors’ predilection to buy the dips.
This year, all eyes are on the Federal Reserve. And speculation is rising the central bank will respond to labor market weakness with at least a quarter point Fed Funds rate cut. I think that’s likely: For one thing, the Fed has never changed its guidance for two quarter point cuts this year.
What remains to be seen is how the […]

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Telecom: Outsized Profits in a Big 3 World
And then there were three: Many investors still haven’t taken notice of AT&T Inc’s (NYSE: T) blockbuster acquisition of EchoStar’s (NSDQ: SATS) wireless spectrum, which was announced the week befo [...]
Harvesting Gains and Hunting Bargains
We’re roughly two-thirds through 2025. And utility stocks are still on top. The Utilities SPDR ETF (XLU)—broadly reflecting overall sector capitalization—is ahead 11.8 percent. That’s 70 basis poin [...]
Endangered Dividends
Most companies in the Utility Report Card coverage universe pay dividends at a consistent rate. So long as earnings guidance and investment plans are on track, management will increase payouts at regu [...]
Next Issue Date: October 6, 2025
Put Roger’s wealth of experience to work for your portfolio.
Roger Conrad has committed his entire professional life to uncovering the best investment opportunities in the utility sector. Roger loves the industries he covers and never stops digging, never stops learning. Roger has never strayed from his mission of delivering the best stocks for investors seeking reliable income.
About Roger S. Conrad
Roger S. Conrad needs no introduction to individual and professional investors, many of whom have profited from his decades of experience uncovering the best dividend-paying stocks for accumulating sustainable wealth.
Roger built his reputation with Utility Forecaster, a publication he founded more than 20 years ago that The Hulbert Financial Digest routinely ranked as one of the best investment newsletters. He’s also a sought-after expert on master limited partnerships (MLP) and former Canadian royalty trusts.
In April 2013, Roger reunited with his long-time friend and colleague, Elliott Gue, becoming co-editor of Energy & Income Advisor, a semimonthly online newsletter that’s dedicated to uncovering the most profitable opportunities in the energy sector.
Although the masthead may have changed, readers can count on Roger to deliver the same high-quality analysis and rational assessment of the best dividend-paying utilities, MLPs and dividend-paying Canadian energy names.
A Message from Roger S. Conrad
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