Roger Conrad founded the Utility Forecaster newsletter in 1989. He tracks a more than 250 essential services securities, employing a rigorous five-stage methodology that includes a proprietary safety rating system and a value index that compares prospective total returns with a security’s current price-to-earnings ratio. Subscribers to the Utility Forecaster receive monthly issues of the newsletter, access to UtilityForecaster.com, as well as special publications such as 5 Bounce-Back Stocks and The Top 200 and Why They’re Hot. In May 2011, the Hulbert Financial Digest ranked Roger Conrad’s Utility Forecaster as #2 among 147 financial newsletters tracked, in terms of five-year risk adjusted performance.