f(x) = (x-1)/(x^4-1)
color(white)(f(x)) = color(red)(cancel(color(black)((x-1))))/(color(red)(cancel(color(black)((x-1))))(x+1)(x^2+1))
color(white)(f(x)) = 1/((x+1)(x^2+1))
with exclusion x!=-1
Note that x^2+1 > 0 for any real values of x
When x=-1 the denominator is zero and the numerator is non-zero. So f(x) has a vertical asymptote at x=-1
When x=1 both the numerator and denominator of the defining expression for f(x) are zero, but the simplified expression is well defined and continuous at x=1. So there is a hole at x=1.
As x->+-oo the denominator of the simplified expression ->oo, while the numerator is constant 1. Hence the function tends to 0 and has a horizontal asymptote y=0
f(x) has no oblique (a.k.a. slant) asymptotes. In order for a rational function to have an oblique asymptote, the numerator must have degree exactly one more than the denominator.
graph{1/((x+1)(x^2+1)) [-10, 10, -5, 5]}