Energy – Oil & Gas Exploration & Production: First 2012

Unranked in 2011, Jonathan Wolff shoots straight in at the top — his first such appearance and quite possibly his last: Wolff left ISI Group in late July to join New York–based asset manager PointState Capital. The 39-year-old is “one of the best at recognizing changes in fundamental factors that will have an impact on valuations,” according to one loyalist. Wolff earned an MBA at New Brunswick, New Jersey’s Rutgers University Business School before working in research at Wachovia Securities and Credit Suisse, among other firms; he joined ISI in July 2011. Given low oil and gas prices, companies are struggling to fund their budgets, he says, and the “general view is the winners will be ones that keep their balance sheets in check and fund their growth without having to borrow money or sell equity.” Key issues to watch for include financial and reserve-related write-downs, because “fields that were once seen as economic may have costs that are higher than expected and/or the reserves are not as prolific on an economic basis at lower prices,” Wolff adds.