Phillip Goldstein co-founded Bulldog Investors, LLC, an SEC-registered investment adviser, in 1992. Mr. Goldstein has served as a director of a number of closed-end funds and is currently a director of the Mexico Equity and Income Fund Inc., Special Opportunities Fund, Inc., Imperial Holdings, and MVC Capital, Inc. He is a Principal of Brooklyn Capital Management, LLC, an SEC registered Investment Adviser. He graduated from the University of Southern California in 1966 with a Bachelor of Engineering degree and from City College, New York in 1968 with a Master of Engineering degree. Mr. Goldstein has appeared on CNBC and is a widely quoted expert on closed-end funds and shareholder activism.
Mr. Lipson is the founding partner of Western Investment LLC. He managed Fixed Income Research departments at Kuhn, Loeb; Lehman Brothers and Paine Webber. In 1973, he created the Kuhn, Loeb Bond Indices which survived serial corporate lives and became the Lehman Brothers Bond Indices and which are now the Barclays Capital Bond Indices; the world's first and most widely used measure of total return in the bond market. He also developed the first fixed income index fund as well and many other pioneering tools in fixed income portfolio management. Prior to that he worked at Goldman, Sachs where he saw opportunity in the neglected bond market and initiated their fixed income research efforts in 1969. He noticed significant inefficiencies in closed-end funds and began investing in CEFs in 1984. After moving to Salt Lake City, he opened his first partnership in 1995 after the internet came up and made it possible to easily execute quantitatively driven transactions on a real-time basis. Western Investment began activism in 2004 and has been involved in 39 situations. More information is available at www.FixMyFund.com.
I am a trader who has traded my own account for the last 25 years. I have a degree in economics and an MBA from Stanford (Class of '80). I was a stockbroker for 8 years before becoming a trader. I have a very good working knowledge of the securities industry and the financial markets. For the past 5 years, I have chosen to only trade Closed End Funds because they offer the trader some exceptional trading and arbitrage opportunities.
Reuben Gregg Brewer spent about 15 years at world renowned Value Line, the Publisher of The Value Line Investment Survey. During this time he worked in various facets of the company's research efforts, including equities, mutual funds, convertibles, and options. For six years, he directed all of the company's research efforts as Value Line's Executive Director of Research. Today he writes about the things that interest him.
After graduating cum laude with a BA in economics from Harvard, I worked in hedge funds and investment banking for ~6 years before leaving to manage my own money full time. I am a CFA charterholder and focus mostly on microcaps / event-oriented trades as that is where I think the market tends to be least efficient. I also started a website to track interesting arbitrage opportunities for individual investors (link below) - check it out!
Lipper Alpha Insight (http://lipperalpha.financial.thomsonreuters.com/) is a free daily news and commentary blog, giving financial professionals actionable ideas and insight to make sense of individual security news and events and stay on top of macroeconomic trends. We have a team of expert analysts that are constantly looking at the financial landscape in order to keep you up to date on the latest movements.
Chris DeMuth Jr. is the founder of Rangeley Capital LLC. Rangeley is an investment firm that focuses on event driven, value-oriented investment opportunities. Rangeley Capital and his value investing forum, Sifting the World (StW), search the world for misplaced bets. Rangeley exploits them for its investors and then Mr. DeMuth writes about them on StW.
GlobalTrekker has traded closed-end funds institutionally, and profitably, for over 20 years and maintains a proprietary database with weekly regression analysis of all funds traded domestically. Objective, detailed data research, free of survivor bias, has been the hallmark of his investment strategies.
Ken Fincher is senior vice president and Portfolio Manager at FTA. Mr. Fincher joined First Trust Advisors in November 2008 after spending the previous 3 years at Calamos Investments and 17 years at Nuveen Investments. His responsibilities at First Trust have included development of new product structures in the closed-end fund space as well as management of newly launched separately managed accounts that invest primarily in the closed-end funds.
At Calamos Mr. Fincher served as Product Manager and Client Advocate for the Calamos closed-end and open-end mutual funds. In this role, he works closely with strategic alliance partners, as well as Intermediary Distribution, Portfolio Attribution, CRM and Marketing teams, to ensure that Calamos funds are well supported and positioned.
While at Nuveen he spearheaded the development of the Dividend Advantage structure that enabled Nuveen to raise significant new closed-end fund assets as well as development of the first publicly disseminated closed-end fund index, and the website ETFConnect.com.
Mr. Fincher has been named Outstanding Individual Contributor to the Closed-End Fund Sector in 2007, 2006, 2005 and 2004 by financial analysts and his peers in the closed-end fund community.
Mr. Fincher received a B.A. in financial administration from Michigan State University and an M.B.A from Loyola University Graduate School of Business. He has been quoted in several business publications such as Investor's Business Daily, Barron's, Bloomberg News Service and Bond Buyer and has authored articles for Seeking Alpha. Fincher also serves on the Closed-End Fund committee of the Investment Company Institute (ICI).
George Spritzer, CFA is a registered investment advisor at Southland Investments and specializes in managing closed-end funds for individuals.
George uses the following investment strategies:1) Opportunistic Closed-end fund investing: Buy CEFs at larger than normal discounts to NAV and sell them when the discounts narrow. 2) Exploit special situations: tender offers, fund terminations, fund activism, rights offerings etc.