2016 Fink Investing Conference

The 5th Annual Fink Investing Conference

Monday, May 23, 2016

12:30 p.m. - 6:00 p.m.
Korn Hall

 

Event Highlights

Keynote Speakers

Rob Arnott
Chairman and CEO, Research Affiliates

Rob Arnott is the founder and chairman of Research Affiliates. He is also portfolio manager on the PIMCO All Asset and All Asset All Authority family of funds and a suite of PIMCO products based on the Fundamental Index™ approach.

Over his career, Rob has endeavored to bridge the worlds of academic theorists and financial markets, challenging conventional wisdom and searching for solutions that add value for investors. He has pioneered several unconventional portfolio strategies that are now widely applied, including tactical asset allocation, global tactical asset allocation, tax-advantaged equity management, and the Fundamental Index approach to investing. His success in doing so has resulted in a reputation as one of the world’s most provocative practitioners and respected financial analysts.

Rob managed two asset management firms before founding Research Affiliates. As chairman of First Quadrant, LP, he built up the former internal money manager for Crum & Forster into a highly regarded quantitative asset management firm. He also was global equity strategist at Salomon Brothers (now part of Citigroup), the founding president and CEO of TSA Capital Management (now part of Analytic Investors, LLC), and a vice president at The Boston Company.

In 2002, Rob established Research Affiliates as a research-intensive asset management firm that focuses on innovative products. The firm explores novel approaches to active asset allocation, optimal portfolio construction, efficient forms of indexation, and other quantitative strategies. Research Affiliates delivers investment solutions globally in partnership with leading financial institutions.

Rob has published more than 100 articles in such journals as the Journal of Portfolio Management, the Harvard Business Review, and the Financial Analysts Journal, where he also served as editor in chief from 2002 through 2006. In recognition of his achievements as a financial writer, Rob's papers have received seven Graham and Dodd Scrolls, awarded annually by CFA Institute for top Financial Analysts Journal articles of the year. He also has received three Bernstein Fabozzi/Jacobs Levy awards from the Journal of Portfolio Management. He is co-author of The Fundamental Index: A Better Way to Invest (Wiley 2008).

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David Booth,
Chairman and Co-Chief Executive Officer, Dimensional Fund Advisors

Currently, David serves on the Investment Company Institute's Board of Governors and is an active member of ICI's Executive Committee. In 2012, he was awarded the Outstanding Financial Executive Award by the Financial Management Association International for his background and accomplishments in applying financial theory and research to the practical world of asset management, particularly for his pioneering work in indexing and small capitalization investing.

MutualFundWire ranks him seventh in its list of the 100 Most Influential People in mutual funds, and in 2010, InvestmentNews named David as one of "The Power 20" in the financial services industry.

David has written numerous articles, including "Diversification Returns and Asset Management" with Eugene F. Fama, which won a Graham and Dodd Award of Excellence from the Financial Analysts Journal in 1992.

The University of Chicago Booth School of Business was named in honor of David, where he also serves as a lifetime member of the school's business advisory council. David is a member of the board of trustees of the University of Chicago and the University of Kansas Endowment Association, and he is on the board of directors of Georgetown University. He is also on the board of overseers for the Becker Friedman Institute.

David received his MBA from the University of Chicago in 1971. He also holds an MS and a BA from the University of Kansas.

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Program

12:30 - 1:30 p.m. Registration Lunch
1:45 - 2:45 p.m. Keynote

Rob Arnott, Chairman & Chief Executive Officer, Research Affiliates

2:45 - 3:45 p.m.

Global Equities, Moving Forward in Uncertain Times

  • Arik Ahitov, PM, FPA
  • Julie Biel, Research Analyst, Kayne Anderson Rudnick 
  • Rob Longnecker, Founder and Managing Partner, Jovetree Capital
  • Samuel Tang, MD, Montauk TriGuard Funds
3:45 - 4:00 p.m. Afternoon Break
4:00 - 5:00 p.m. Opportunities and Risk in US Fixed Income Markets
  • Vineer Bhansali, Founder, LongTail Alpha (former Managing Director and Portfolio Manager, Head of Quantitative Investment Portfolios, PIMCO)
  • Asha Joshi, Managing Principal & Sr. PM, Payden & Rygel
  • Melinda Newman, Senior Vice President, TCW
  • Ritchie Tuazon, PM, Capital Group
5:00 - 6:00 p.m. Fireside Chat with David Booth, Chairman and Co-Chief Executive Officer, Dimensional Fund Advisors 

Moderated by Judy Olian, Dean and John E. Anderson Chair in Management

6:00-7:00 p.m.

Reception

Speakers come from the following companies:


fink
Rob Arnott
Chairman and CEO, Research Affiliates

Rob Arnott is the founder and chairman of Research Affiliates. He is also portfolio manager on the PIMCO All Asset and All Asset All Authority family of funds and a suite of PIMCO products based on the Fundamental Index™ approach. Over his career, Rob has endeavored to bridge the worlds of academic theorists and financial markets, challenging conventional wisdom and searching for solutions that add value for investors. He has pioneered several unconventional portfolio strategies that are now widely applied, including tactical asset allocation, global tactical asset allocation, tax-advantaged equity management, and the Fundamental Index approach to investing. His success in doing so has resulted in a reputation as one of the world’s most provocative practitioners and respected financial analysts.

Rob managed two asset management firms before founding Research Affiliates. As chairman of First Quadrant, LP, he built up the former internal money manager for Crum & Forster into a highly regarded quantitative asset management firm. He also was global equity strategist at Salomon Brothers (now part of Citigroup), the founding president and CEO of TSA Capital Management (now part of Analytic Investors, LLC), and a vice president at The Boston Company.

In 2002, Rob established Research Affiliates as a research-intensive asset management firm that focuses on innovative products. The firm explores novel approaches to active asset allocation, optimal portfolio construction, efficient forms of indexation, and other quantitative strategies. Research Affiliates delivers investment solutions globally in partnership with leading financial institutions.

Rob has published more than 100 articles in such journals as the Journal of Portfolio Management, the Harvard Business Review, and the Financial Analysts Journal, where he also served as editor in chief from 2002 through 2006. In recognition of his achievements as a financial writer, Rob's papers have received seven Graham and Dodd Scrolls, awarded annually by CFA Institute for top Financial Analysts Journal articles of the year. He also has received three Bernstein Fabozzi/Jacobs Levy awards from the Journal of Portfolio Management. He is co-author of The Fundamental Index: A Better Way to Invest (Wiley 2008).

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David Booth
Chairman and Co-Chief Executive Officer, Dimensional Fund Advisors

Currently, David serves on the Investment Company Institute's Board of Governors and is an active member of ICI's Executive Committee. In 2012, he was awarded the Outstanding Financial Executive Award by the Financial Management Association International for his background and accomplishments in applying financial theory and research to the practical world of asset management, particularly for his pioneering work in indexing and small capitalization investing.

MutualFundWire ranks him seventh in its list of the 100 Most Influential People in mutual funds, and in 2010, InvestmentNews named David as one of "The Power 20" in the financial services industry.

David has written numerous articles, including "Diversification Returns and Asset Management" with Eugene F. Fama, which won a Graham and Dodd Award of Excellence from the Financial Analysts Journal in 1992.

The University of Chicago Booth School of Business was named in honor of David, where he also serves as a lifetime member of the school's business advisory council. David is a member of the board of trustees of the University of Chicago and the University of Kansas Endowment Association, and he is on the board of directors of Georgetown University. He is also on the board of overseers for the Becker Friedman Institute.

David received his MBA from the University of Chicago in 1971. He also holds an MS and a BA from the University of Kansas.

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Arik Ahitov
Portfolio Manager, FPA

Arik joined FPA in 2010. He serves as Portfolio Manager for the FPA Small/Mid-Cap Absolute Value Strategy. From 2004 to 2010, he was Portfolio Manager of Shamrock Capital Advisors’ Absolute Value Fund. He also has experience in consulting and investment banking. Arik earned a Bachelor’s degree in Economics from Northwestern University and an MBA from the University of California, Los Angeles. He served on the Board of Coinstar, Inc. (Nasdaq: CSTR) from June 2008 to June 2013.

 
Julie Biel, CFA
Research Analyst, Kayne Anderson Rudnick

Julie Biel, CFA is a Research Analyst with primary research responsibilities for the small and mid-capitalization technology and consumer-discretionary sectors. Before joining Kayne Anderson Rudnick in 2013, Ms. Biel worked at Imperial Capital as an Equity Research Associate. Prior to business school, Ms. Biel was an Equity Research Associate at Merrill Lynch. She has approximately seven years of equity research experience. Ms. Biel earned a B.A., in Economics and Psychology from New York University and an M.B.A. from the University of California, Los Angeles. Ms. Biel is a Chartered Financial Analyst charterholder.

 
Rob Longnecker
Founder and Managing Partner, Jovetree Capital

Mr. Longnecker is currently Founder and Managing Partner of Jovetree Capital, a small-cap value fund that he launched in June 2010. Mr. Longnecker has also served as a Partner at Ides Capital, a small-cap value/activist fund, since June 2015. Previously, Mr. Longnecker served as Managing Partner of Park Row Capital, a New York-based small-cap value/activist fund he co-founded, from March 2008 until July 2009.

From June 2007 until March 2008, Mr. Longnecker was an Analyst with Great Gable Partners, a San Francisco-based long/short fund. From 2003 until 2007, Mr. Longnecker was a Partner with Barington Capital Group, a New York-based small-cap activist fund (“Barington”). While at Barington, Mr. Longnecker served on the Board of International Aluminum Corp. (formerly NYSE: IAL), a manufacturer and supplier of residential and commercial aluminum and related building products. Prior to his time at Barington, Mr. Longnecker was an Associate at American Marine Advisors, a New York-based investment bank to the shipping industry, where he executed M&A transactions and bankruptcy restructurings, from 2002 until 2003. He was a Financial Analyst in the Investment Banking Department of Lehman Brothers working in Industrials (New York) and Financial Institutions (London) from 1995 until 1998. Mr. Longnecker graduated from the School of Arts and Sciences at Cornell University in 1995 earning a B.A. in Economics.

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Samuel Tang
Co-Founder and Managing Partner, Montauk TriGuard

Samuel Tang is a Co-Founder and Managing Partner of Montauk TriGuard. Prior to co-founding Montauk TriGuard, Mr. Tang was a Managing Director, Equities, of PL. At PL, Mr. Tang co-developed the Equities group’s tri-level investment approach that targets both reliable and attractive returns and co-managed PL’s private equity portfolio with its emphasis on strategy, tactics and logistics. Mr. Tang also co-chaired PL’s Workout Committee to maximize recovery on bond investments, and worked on various strategic and direct equity investments. Before joining PL, he was a Managing Partner at The Shidler Group, a specialized private equity firm focused on finance, insurance and real estate companies, several of which became publicly traded. .

Mr. Tang has an MBA in Finance from the University of California, Los Angeles and a BS in Accounting from the University of Southern California. Mr. Tang has served on several private equity fund advisory and corporate boards

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Veneer Bhansali, Ph.D.
Founder, LongTail Alpha (former Managing Director and Portfolio Manager, Head of Quantitative Investment Portfolios, PIMCO)

Vineer Bhansali’s 24-year investment career started at Citibank, where he founded and managed the Exotic and Hybrid Options Trading Desk. He later joined Salomon Brothers in its Fixed Income Arbitrage Group, where he traded foreign currency options and municipal bonds, followed by the Credit Suisse First Boston Proprietary Trading Group. Dr. Bhansali was at PIMCO for 16 years, serving the last eight years as Managing Director and Head of the Quantitative Portfolios Team, which he founded in 2008. Dr. Bhansali also managed all of PIMCO’s analytics from 2000 to 2010. 

Among other responsibilities, he was the lead portfolio manager for the PIMCO TRENDS Managed Futures Strategy Fund, lead manager of the PIMCO Tail Risk Hedging Funds, portfolio manager of the PIMCO RealRetirement and RealPath Funds, co-manager of the PIMCO Global Multi-Asset Fund, co-manager of the PIMCO Global Relative Value Fund, co-manager of the PIMCO Distressed Senior Credit Opportunities Fund, and portfolio manager of a series of PIMCO's indexed ETFs. He has written four books on finance and authored over 25 refereed papers on topics as varied as option pricing, fixed income, tail hedging, asset allocation and economics in leading Journals that include the Journal of Finance, Financial Analysts' Journal, Journal of Portfolio Management, and Journal of Risk. Dr. Bhansali received his Ph.D. in Theoretical Physics from Harvard University in 1992 and M.S. and B.S. degrees in Physics from Caltech in 1987. He has also delivered over 100 conference presentations, including the Q-Group, JOIM, Quant Congress and Risk.

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Asha Joshi, CFA
Managing Principal, Payden & Rygel

Asha Joshi, CFA, is a managing principal at Payden & Rygel. Joshi is a member of the firm’s Investment Policy committee and board of directors. She is a senior portfolio manager serving institutional clients including public plans, corporations, universities and endowments. She chairs the firm’s Best Execution Committee and also serves on the board of Payden & Rygel Global Ltd. Prior to joining Payden & Rygel, Joshi was vice president, Global Capital Markets at CIBC/Wood Gundy and previously, vice president at First Interstate Bank, Ltd where she was responsible for risk management of the Bank’s derivatives portfolio. 

Joshi is a past president of the CFA Society of Los Angeles and a member of the CFA Institute. She currently serves on the board of the California Council on Economic Education where she chairs the Program Committee. Asha Joshi holds the Chartered Financial Analyst designation. She earned an MBA, with an emphasis in finance, and an MA degree from UCLA the year that she was a Rotary Foundation Ambassadorial Fellow. Joshi received an undergraduate degree with the highest honors from Bangalore University in India.

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Melinda Newman
Senior Credit Analyst, TCW

Ms. Newman is a Senior Credit Analyst in the U.S. Fixed Income group responsible for the energy, coal, and MLPs sectors. She joined TCW in January 2015 from First Pacific Advisors, LLC, where she was Head of Corporate Credit Research for Fixed Income. She previously was a Managing Director/Senior Portfolio Manager at Post Advisory Group, LLC, an institutional high yield boutique based in Los Angeles, where she served on the Board of Directors. Melinda holds a BA with Honors in General Scholarship from Wesleyan University, where she was elected to Phi Beta Kappa, and an MBA with Honors in Finance from The Wharton School of the University of Pennsylvania, where she was named a Palmer Scholar.

 
Ritchie Tuazon
Portfolio Manager, Capital Group

Ritchie Tuazon is a fixed-income portfolio manager at Capital Group. He has 15 years of investment experience and has been with Capital Group for five years. Earlier in his career at Capital, as a fixed-income investment analyst, he had analytical responsibilities for Treasuries and TIPS. Prior to joining Capital, Ritchie was a trader at Goldman Sachs with experience trading TIPS, Treasuries, and Interest Rate Swaps. He holds an MBA from MIT Sloan School of Management, a master’s degree in public administration from Harvard's Kennedy School of Government and a bachelor’s degree from the University of California, Berkeley. Ritchie is based in Los Angeles.

 

The 5th Annual Fink Investing Conference Sponsors

Hosted By:

Laurence & Lori Fink Center for Finance & Investments

Gold Level Sponsors:

Silver Level Sponsors: 
Ben Bisconti ('94) 

Bronze Level Sponsors:
Lance Depew ('94) and Tyler ('94) & Heather ('95) Mingst