Senior Managing Director
Energy and Geopolitical Research
Burnham Securities Inc.
Burnham Asset Management Corporation
Dr. Mordechai Abir has been one of the most respected voices in energy analysis for more than 20 years. Prior to joining Burnham, Dr. Abir was Director of Energy and Geopolitical Research at Hoenig & Co., Inc. and Senior Strategist for Energy and International Relations at Schroder & Co., Inc.
During four decades as a scholar of international politics and Islamic and Middle Eastern affairs, Dr. Abir has advised senior American and Israeli government officials and has lectured at the U.S. Departments of Defense and State, the National Security Council, and at the NATO Defense College. He has been a guest scholar at the London School of Economics, the School for Advanced and International Studies at Johns Hopkins University, the Wilson Center for International Scholars at the Smithsonian Institution, and the Brookings Institute. He is Professor Emeritus at the Hebrew University of Jerusalem.
Dr. Abir has authored many books, articles, and research reports on Middle Eastern and international politics and the geopolitics of energy. His 1988 book Saudi Arabia in the Oil Era has been a standard text on Saudi Arabia used by the U.S. State Department.
Senior Managing Director
Head of Corporate Finance Department
Burnham Securities Inc.
From 1998 to 2003, Mr. Gardner was a Managing Director of BNY Capital Markets, the capital markets subsidiary of The Bank of New York, where he was responsible for a variety of acquisitions, divestitures, leveraged buyouts and financings in various industries that included consumer products, manufacturing and business services. Prior to this, he was Managing Director at Patricof & Co. Capital Corp., the investment banking affiliate of Apax Partners (formerly Patricof Ventures) the international private equity firm. In 1998, Patricof & Co. Capital Corp. was acquired by BNY Capital Markets, where Mr. Gardner continued in his capacity as Managing Director. In 2003, Mr. Gardner co-founded and was a Managing Director of Argyll Partners, LLC, a boutique financial advisory firm.
From 1985 to 1997, Mr. Gardner was a Managing Director and member of the Management Committee of Peers & Co., a specialized investment banking firm focusing on strategic transactions with companies located in the Pacific Basin. As a founding officer of Peers, Mr. Gardner was a pioneer in the development of cross-border mergers and acquisitions between Japan and the United States and Europe. He represented numerous corporate clients in accomplishing acquisitions, divestitures, joint ventures, licensing agreements, and other strategic alliances, and maintains relationships with some of Japan’s most important companies.
Prior to Peers, Mr. Gardner was a Vice President in mergers and acquisitions at Dean Witter Reynolds, and began his professional career as an attorney at Davis Polk & Wardwell.
Mr. Gardner is a Phi Beta Kappa graduate of the University of Virginia. He also received his J.D. degree from the University of Virginia, where he was a member of the Law Review and the Order of the Coif.
Vice Chairman
Burnham Securities Inc.
Mr. Lewisohn's career as an investment banker has spanned over thirty years. It began at Chase Manhattan Corp. where he served as a commercial lending officer. In 1973 he joined Herzfeld & Stern, becoming a partner in 1980 while heading that firm's Corporate Finance Department. When Herzfeld was acquired by Gruntal & Co., Incorporated, he was appointed Director of Investment Banking, reporting directly to the chairman. From 1989 to mid-1991, when he joined Burnham Securities, Mr. Lewisohn served as a consultant to The Home Group, Capital Markets Division, in addition to providing investment banking services to other corporate accounts.
During his tenure at Burnham, Mr. Lewisohn has been actively engaged in all facets of corporate finance: private placements, merger and acquisition advisory, fairness opinions, public offerings, merchant banking, restructurings and recapitalizations. His transactional range extends from early stage internet companies to initiating, negotiating, structuring and financing acquisitions for seasoned publicly-traded entities.
Mr. Lewisohn has served on the boards of several corporations and not-for-profit organizations. He is a graduate of Deerfield Academy and the University of North Carolina, Chapel Hill. He currently serves on the Executive Committee of the Securities Industry Association (New York District) and lectures at various professional functions.
President, Safian Investment Research
Kenneth Safian is President and founder of Safian Investment research. The firm has provided investment strategy to major institutional investors in the US and abroad for almost forty years. The firm also manages money with an emphasis on sector rotation and preservation of capital. Safian Investment Research is a division of Burnham Financial Group.
Ken began his investment career at Dreyfus & Co. in 1958, where he was responsible for the Investment Management Division. He co-authored a text in 1960, which first introduced the investment community to the relationship between growth and cyclical stocks. His firm has been referred to as a "think tank" since it has originated many new investment and economic concepts.
Ken is a graduate of the Wharton School at the University of Pennsylvania, a past director and member of the New York Society of Security Analysts, a member of the National Association of Business Economists, a member of the Investment Policy Committee of Edward D. Jones & Company and formerly served on the Special Firms Committee of the New York Stock Exchange. He has spoken at numerous investment and economic forums, and continually consults with various government officials in Washington, D.C.
Senior Managing Director
Burnham Securities Inc. & Burnham Asset Management Corporation
Mr. Silverberg has over thirty-eight years of investment experience. Prior to his current position he was a partner of Silberberg, Rosenthal & Co., and a Vice President and Senior Analyst at both Oppenheimer & Co. and Loeb Rhoades & Co. Mr. Silverberg is a Chartered Financial Analyst. He is a member of the New York Society of Securities Analysts, the Financial Analysts Federation, the Electronic Analysts Group of New York, and the communication Technology Analysts Association. He is a past President of the Electrical Products Group of New York, and previously served as Vice President of the Pollution control Analysts of New York. In the past he was a member of the Board of Directors of both Seaman Furniture, Inc. and Mathematical Applications Group, Inc.
Mr. Silverberg received a B.S. degree from Princeton University and was a graduate student at the Stevens Institute of Technology as well as the City College of New York. Mr. Silverberg is a trustee of Outward Bound U.S.A.
Senior Managing Director
Houston Branch Office Manager
Burnham Securities Inc.
Senior Managing Director
Burnham Asset Management Corporation
Mr. Stark is President and Chief Executive Officer of Stark Capital Management, which specializes in the management of domestic and international portfolios for individual and institutional clients. He serves on the Burnham Fund's Investment Committee. Prior to his current position, Mr. Stark was a Senior Vice President of Drexel Burnham Lambert Incorporated, Manager of its Houston branch office, and Southwestern Regional Manager of Institutional Sales. He was at White Weld & Co. from 1967 to 1977, where he held senior managerial positions in international and U.S. institutional sales. He is active in numerous civic and charitable organizations, including his alma mater, Cornell University. He received his M.B.A. from the European Institute of Business Administration (INSEAD) in Fontainebleau, France.
Mr. Stark was elected 1997 Chairman of the District Committee and District Business Conduct committee for NASDR (District 6) which regulates the 341 member firms in the securities industry in Texas.
Burnham Asset Management Corporation
Ray Frankel has been an investment manager for over 40 years. He is currently a portfolio manager for Burnham Asset Management, Inc. He is the President of Technological Investors Management Corporation, a consulting organization that has acted as advisor to such well-known firms as Allstate Insurance, The Dreyfus Fund, The Energy Fund, JW Seligman & Co., Mass Mutual Insurance Co., Lincoln National Bank, Union Carbide, and various British merchant banks and investment funds, including the British Investment Trust, Kleinwort Benson Ltd. and Robert E. Fleming & Co. He is also a general partner of two hedge funds, U.S. Technology and Science Participants, which are focused on high technology and biomedical investment.
Mr. Frankel holds B.S. and S.M. degrees from MIT, where he was president of the honorary engineering fraternity, Tau Beta Pi. In World War II he served in the US Navy as a radar officer with the Pacific Fleet. He has been a director of a number of corporations, including Baird-Atomic Corp., Pacific Uranium Co., Pantheon Books, Sequa Corporation, and Standard Microsystems Corp. He is currently an Associate of the Rand Corporation, a Trustee of the Albright Institute of Archeological Research, and a member of the Board of Advisors of the Center for Defense Information.
Mr. Frankel resides in Los Angeles, California. He has traveled extensively, meeting with scientific and industrial leaders in most European nations, including Russia, and China, Japan, Iran, Iraq, Israel, Malaysia, Syria, Cuba, Yemen, and numerous other countries.
Managing Director – Research
Burnham Securities Inc.
Mr. Anton is an investment analyst following the energy industry. He concentrates his research on the major integrated oil companies and selected oil and gas producers. Prior to joining Burnham in 2005 he was a Partner of Carl H. Pforzheimer & Co. and a Vice President of the Chase Manhattan Bank. He holds an AB from Columbia University, an MBA from the Wharton School of the University of Pennsylvania and is a Chartered Financial Analyst.
Managing Director
Burnham Securities Inc.
For more than 25 years, Steve has planned, generated and led cross border and domestic M&A and corporate finance transactions in a variety of consumer and industrial fields. Steve began his career in 1974 as an accountant at KPMG. He joined KPMG Corporate Finance in 1976, entered the partnership in 1981, and served as US partner in charge of KPMG Corporate Finance for most of the 1980s and 1990s. During those years, in addition to advising clients on M&A and corporate finance matters, he also served on KPMG's Finance Committee, advised KPMG on several of its own acquisitions, and helped establish KPMG's Valuation Services Practice. After leaving KPMG and before joining Burnham, Steve served as Managing Director of Chartered Capital Advisers, Inc., where he continued to advise clients on M&A, corporate finance and valuation matters.
Steve serves on the boards of several commercial and not-for-profit organizations. Over the years, he has also commented, for print and broadcast media, on topics such as M&A strategies, trends and techniques. Steve continues to lead KPMG's long running client executive training programs on maximizing enterprise value and on M&A. He is a member of the American Arbitration Association, and has arbitrated or served as expert witness in numerous disputes.
Steve has served as a Vestry Member and Senior Warden of his church, and is active in the alumni affairs of his alma mater, Yale. Steve graduated from Phillips Academy (Andover), from Yale University (B.A. with honors in Economics), and from the Stern School of Business (M. S. in Accountancy). He is a CPA and an Accredited Senior Appraiser.
Managing Director
Burnham Securities Inc.
John D. Carton, Managing Director, has over 25 years experience in corporate finance, both as an investment banking advisor to middle-market clients and as an executive of a NYSE-listed company. From 1986 to 1998 Mr. Carton was a Managing Director of Patricof & Co. Capital Corp. and President of Patricof Securities Corp. Mr. Carton led M&A deals, valuations, fairness opinions and expert testimony in financial litigation and supervised the placement of debt and equity securities. He had substantial experience in industries including media and entertainment, healthcare, consumer packaging, transportation logistics, and manufacturing, among others. He also led numerous cross-border transactions and strategic alliances. In 1998, Patricof & Co. Capital Corp. was sold to BNY Capital Markets where Mr. Carton continued in his capacity as Managing Director. Prior to joining Patricof, he was a Vice President of J. Henry Schroder Corp. From 1976 to 1983 Mr. Carton held several executive positions at Columbia Pictures Industries, Inc. where he was responsible for corporate planning, treasury operations, film financing, acquisitions, divestitures and takeover defense. Mr. Carton is Chairman of the Board of Trustees of Hoff Barthelson Music School. He received an A.B. from Brown University and an M.B.A. from New York University.
Managing Director
Burnham Securities Inc.
Mr. Friedman has over 25 years of health care investment banking and research experience, joined Burnham Securities as a managing director in 2003 from Dominick & Dominick, where he had been the partner in charge of their health care investment banking practice since 1996. Prior to joining Dominick, Mr. Friedman was with Furman Selz as a senior member of their Health Care Corporate Finance Group. Mr. Friedman spent five years with Flemings, the British merchant bank, where he headed the health care industry group, working extensively with both U.S. and international healthcare companies. His career includes tenure at Deutsche Morgan Grenfell, where he served as Managing Director, responsible for international healthcare banking transactions; at Prudential Bache Capital Funding, where he was hired as Managing Director to start and manage its Health Care - Corporate Finance Group. Mr. Friedman spent 10 years at Montgomery Securities, where he was a General Partner and Co-Founder of Montgomery Medical Ventures, and at L.F. Rothschild Unterberg Towbin, where he was a First Team Institutional Investor-ranked hospital supply/medical device analyst.
Mr. Friedman has served as a member of the Board of Directors of: MaxiCare Health Plans, Inc., Alta Bates Hospital and Health Care Corporation, (Berkeley, CA), The Mount Zion Hospital and Medical Center (San Francisco), and The Health Plan of California. Mr. Friedman was recently elected a Fellow of The Institute of Directors in London and currently serves on the board of directors of The Children's Health Fund (New York), The Citizens Committee for New York City, and as a trustee of The Health Care and Biotechnology Venture Fund (Toronto). Mr. Friedman received his B.A. in Political Science from the University of Pennsylvania and his M.B.A. in Finance & Marketing from The Wharton School.
Managing Director
Burnham Securities Inc.
Ms. Fuld started her career in the research department of Dreyfus & Co. After leaving Dreyfus, in 1969, she worked with two small companies in both sales and management. She joined Silberberg, Rosenthal in 1984, which merged with Burnham Securities in 1991. Her focus is advising high net worth individuals and small retirement plans.
She graduated from Cornell University with a BA in economics in 1961. Presently she is on the Investment Committee of the Ethical Culture Schools, and on the Board of Directors of Women In Need.
Managing Director
Burnham Securities Inc.
Randolph Guggenheimer, Jr. joined Burnham Securities in 1998 as a Managing Director in the corporate finance department. Prior to his joining Burnham, he was a director of Advest, Inc. and its NYSE-listed parent, Advest Group. While at Advest he headed the corporate finance, syndicate, unit trust and tax shelter departments. He was a director of Simmons Outdoor, a Nasdaq-listed company until it was acquired by Blount and a director of a private internet sports medicine company. He is a Governor of The Bond Club of New York and has served on numerous Securities Industry Association committees. He is a board-certified arbitrator of the NYSE and serves as an FINRA arbitrator, as well. Randolph Guggenheimer, Jr. is a graduate of Yale College and Harvard Law School.
Managing Director
Burnham Securities Inc.
Mr. Gutenstein is a financial advisor with Burnham Securities Inc., handling accounts for individuals and institutions. He is also a Chartered Financial Analyst, specializing in the Electronics industry. Prior to his joining Burnham, he was CEO of Kalb Voorhis & Co., LLC. He is a member and has been President of several analyst associations, and is active among many charitable and social organizations. He is a graduate of the University of Pennsylvania.
Managing Director
Burnham Securities Inc.
Mr. Kahn is a seasoned investment banker with over 25 years of experience in mergers and acquisitions and financings. He has worked on hundreds of completed engagements and has consummated over $10 billion in transactions in the aggregate. Mr. Kahn, who joined Burnham Securities in 2007, focuses on transactions involving middle market companies, with an emphasis on biopharmaceuticals, medical devices and healthcare services, and he provides general LBO coverage and transaction execution. Mr. Kahn began his professional career at Bankers Trust Company and was a member of the merger and acquisition departments of Dean Witter and Bear Stearns from 1980 to 1985. He ran the mergers and acquisitions department of L.F. Rothschild from 1985 to 1988 and was a senior banker at CIBC Oppenheimer from 1989 to 1998. Subsequently, he ran the healthcare groups at Gruntal and Tucker Anthony Sutro. Most recently, he served as Managing Director at Tri-Artisan Partners, a merchant banking boutique.
Mr. Kahn received a Bachelor of Arts degree in Political Science from Columbia College in 1974 and a Masters of Business Administration Degree from Columbia University Graduate School of Business in 1976.
Managing Director
Burnham Asset Management Corporation
Mr. Levinson's investment management experience of over thirty five years was preceded by four years in sales, representing a national manufacturing company, enhancing his skills in marketing and client service. Professional investment industry experience began in 1961 at Merrill Lynch Pierce Fenner & Smith as an Account Executive. In 1969 he joined David J. Greene & Co.,LLC, becoming a Vice President, and where, for over thirty years, portfolio management responsibilities included overseeing substantial corporate retirement, endowment, and high net worth individual account holdings of undervalued securities and special situations. He joined Burnham Securities in January 2000.
Mr. Levinson is a graduate of the Horace Mann School with a BA degree in Economics from Cornell University.
Managing Director
Burnham Securities Inc.
Jay has over 17 years of corporate finance and investment banking experience focused on middle market and larger corporate clients. Prior to joining Burnham Securities, Jay was Managing Director and Head of Investment Banking at Glocap Advisors, a New York based boutique investment banking firm. Previously, Jay was a Senior Vice President at Bank of America and a senior banker in the Investment Banking group of J.P. Morgan where he was a senior member of JPM’s Global Metals & Mining Investment Banking Group. While at J.P. Morgan, Jay established the firm’s North American building materials practice. Prior to joining the investment banking team at J.P. Morgan, Jay spent eight years in various corporate finance positions with the Middle Market Banking Group of The Chase Manhattan Bank and its predecessors. He has extensive experience in corporate finance and M&A, raising capital of all types for corporate clients and advising on strategic initiatives. Over the past 8 years, Jay has raised in excess of $14 billion for his clients and advised on M&A transactions with an aggregate transaction value of $3.5 billion. His industry expertise includes steel, metals, mining, building materials, diverse manufacturing, and consumer products. Jay earned a B.S. in Business Administration from Boston University and an M.B.A. in Finance from the Stern School of Business at New York University
Burnham Asset Management Corporation
Mr. Myer is a portfolio manager with Burnham Asset Management, has participated in the management of TIM since 1997, and has been a General Partner in U.S. Technology and Science Participants hedge funds since 2000. He is a senior consultant and communications executive with an extensive background in all aspects of corporate strategic planning and consulting. Mr. Myer served as a senior aide to President Reagan, first as a senior staff member on the National Security Council and later as the President's foreign and defense policy speech writer.
Managing Director
Burnham Securities Inc.
Mr. Pack is an account executive with Burnham Securities. Prior to joining Burnham, he was associated with Silberberg Rosenthal & Co. (and predecessor firm) and with Francis I. Dupont & Co. He is the author of How to Talk to a Broker and co author with his wife, Nancy Dunnan, of Market Movers and How to Thrive and Survive in the Recession of 1991. He is a graduate of Columbia University.
Managing Director
Burnham Securities Inc.
Managing Director
Burnham Asset Management Corp.
Mr. Peck joined Burnham Securities in 1996. Prior to his current position, he was a portfolio manager at Schroder Wertheim & Co. for sixteen years. His experience prior to those years included senior management positions at Kahn, Peck & Co. (which he co-founded and which was eventually acquired by Advest & Co.) He was also a co-founder of Schaenen, Fellerman, Peck, Inc. and for three years traded the firm's account and managed private and pension portfolios.
Mr. Peck received a B.S. in aeronautical engineering from the University of Michigan. After service as a naval officer, he did graduate studies in finance at the Columbia University School of Business.
Managing Director
Burnham Securities Inc.
Mr. Rosen joined Burnham Securities in 1993. He began his career at Lehman Brothers in 1950 as a sales trainee, and since that time has developed an extensive and multi-faceted career in the securities industry. He has held senior management positions in retail sales, investment management and corporate finance. Prior to joining Burnham, Mr. Rosen was a Senior Vice President at Oppenheimer & Co., and prior to that position, he was a Vice President - Sales at Smith Barney. He has held senior management positions at D.H. Blair & Co., Morgan Stanley & Co., Ladenburg Thalmann, and Burnham & Co. He was the founder and President of Summit Capital Group, a money management and investment banking firm.
A graduate of St. Lawrence University, Mr. Rosen served three years in the 10th Mountain Division during World War II. He currently serves as Chairman of the Board of U.S. Envirosystems, Inc., a publicly owned cogeneration company, and he is a member of the Board of Directors of National Investors Cash Management Funds, Inc. He sits on the President's council of St. Lawrence University.
Managing Director
Burnham Securities Inc.
Managing Director, Senior Portfolio Manager
Burnham Asset Management Corporation
Mr. Rosoff's career in the securities industry began in 1969. He spent nine years with Paine Webber and more than seventeen years with Wertheim & Co. Inc., which became , Schroder & Co. Inc., where he was a Vice President in that firm's Private Investor Department. At Burnham Securities and Burnham Asset Management, his primary responsibilities involve portfolio management for high net worth individuals and pension plans.
Mr. Rosoff holds a B.A. from The Johns Hopkins University.
Associate Managing Director
Burnham Securities Inc.
William Hyman joined Burnham Securities in 1998 after three years as a financial consultant with Smith Barney. He was a Municipal Bond Underwriter for 13 years, with Reinoso & Co, Dean Witter, Tucker Anthony and Drexel Burnham Lambert Inc. A graduate of Gettysburg College, he received an MBA from Baruch College.
Associate Managing Director
Burnham Securities Inc.
Associate Managing Director
Burnham Asset Management
Moss Plaine joined Burnham Securities in 1993. He holds a BA in Economics from Hobart College, an MBA from Duke University's Fuqua School of Business, and a J.D. from George Washington University. He is a member of the Bar of the State of New York.
Associate Managing Director
Burnham Securities Inc.
Kerri Scheller was previously a Research Analyst with Fidelity Investments. In this capacity, she researched and developed investment strategy for Fidelity's investments in sectors such as healthcare, transportation, utilities and education. She has also worked in the UBS Healthcare Equity Research Group.
Ms. Scheller’s assignments at Burnham have also included work in the apparel, cosmetics, building supplies, publishing and software industries. Ms. Scheller received a B.S. from Northeastern University and an MBA from the NYU Stern School of Business.
Associate Managing Director
Burnham Securities Inc.
Mr. Teitelbaum has nearly 20 years of healthcare experience, encompassing investment banking, operating and consulting roles. Mr. Teitelbaum has executed numerous M&A and capital raise transactions for a broad array of public and private middle market and emerging growth companies in the life sciences, healthcare information technology and healthcare services sectors. Prior to joining Burnham Securities in 2007, Mr. Teitelbaum was a senior healthcare banker with Glocap Advisors. Mr. Teitelbaum also previously served as the head of the healthcare group at Cascadia Capital and was a member of the healthcare investment banking groups at Nexus Health Capital, Robertson Stephens and Salomon Brothers Inc. Prior to investment banking, Mr. Teitelbaum worked in pharmaceutical business development, sales and disease management roles at American Cyanamid (now Wyeth, Inc.) and Schering-Plough. Mr. Teitelbaum has served as a healthcare consultant to the FDA and EPA, and conducted genetic research at the Weizmann Institute of Science in Israel. Mr. Teitelbaum received a BA in Biology from the University of Pennsylvania and a MBA from the Wharton School of the University of Pennsylvania.
Associate – Corporate Finance
Burnham Securities Inc.
Christopher Novak has previously served as a corporate valuation Associate with PricewaterhouseCoopers and Standard & Poor's. While there he worked closely with senior executives of firms in the manufacturing, technology, and telecommunication sectors, assisting them through various M&A and capital market activities. He also has additional specialty M&A and corporate finance experience with an international investment bank focused on the middle market. Mr. Novak received a B.S. from the University of Arizona.
Associate Managing Director
Burnham Securities Inc.
Mr. Schweich is an account executive at Burnham Securities, with a particular specialization in the Retail industry. He was formerly associated with Schroder & Co., as a managing director, and has memberships in various securities analyst organizations. He is a graduate of the University of Pennsylvania.
Associate Managing Director
Fernando Perez joined Stark Capital Management after graduating with an MBA in Finance from The Freeman School at Tulane University, New Orleans. Prior to entering business school, he worked for two years with Goldman, Sachs & Co., as an analyst in Asset Management and four years at Jennison Associates LLC as a portfolio administrator. His responsibilities at Stark Capital management include: qualitative and quantitative equity research and assisting with portfolio management functions. Mr. Perez earned his Bachelors degree in Economics and Anthropology from Brandeis University.
Analyst
Burnham Securities Inc.
Peter Li joined the Burnham team in 2007. Prior to Burnham, Mr. Li was an Analyst with Glocap Advisors, where he was responsible for the execution of transactions across a range of industries including healthcare, technology, basic materials, and retail. Mr. Li began his career in the Sponsor Coverage and Gaming Lodging & Leisure Groups at Canadian Imperial Bank of Commerce (CIBC). In that capacity, he advised clients in the U.S. and Canada on a variety of transactions including buy-side and sell-side representations in public and private domains, debt refinancing, and leveraged buyouts. Mr. Li received a B.A. in Economics with concentrations in Finance and Accounting from Claremont McKenna College.
Nancy Pustka joined Stark Capital Management in 1994 after many successful years in the investment management industry. Prior to joining this firm, she was the sole proprietor of Pustka Asset Management, and spent 13 years with Transamerica-Criterion as a portfolio manager of mutual funds, pension funds and individual accounts. She has extensive experience in analysis of securities,
portfolios, and investment performance, as well as investment strategy. Ms. Pustka obtained her Chartered Financial Analyst designation (CFA) in 1983 and a BBA in Business from the University of Texas at Austin in 1975. Her professional associations include the Houston Society of Financial Analysts and the Association for Investment Management and Research.
