Step 1: Analyze the equation.
The equation \( \frac{z + 1}{z - 1} = 4 \) represents a geometric transformation. This is a Möbius transformation, which typically maps to a circle.
Step 2: Conclusion.
The locus of the point representing \( z \) is a circle with radius \( \frac{1}{2} \).
Final Answer:
\[
\boxed{\text{a circle with radius } \frac{1}{2}}
\]