Experts’ Biographies
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EXPERTS’ BIOGRAPHIES Robert J. Shiller is Sterling Professor of Economics, Department of Economics and Cowles Foundation for Research in Economics, Yale University, and Professor of Finance and Fellow at the International Center for Finance, Yale School of Management. He received his B.A. from the University of Michigan in 1967 and his Ph.D. in economics from the Massachusetts Institute of Technology in 1972. He has written on financial markets, financial innovation, behavioral economics, macroeconomics, real estate, statistical methods, and on public attitudes, opinions, and moral judgments regarding markets. Professor Shiller was awarded the 2013 Nobel Prize in Economic Sciences, together with Eugene Fama and Lars Peter Hansen of the University of Chicago, "for their empirical analysis of asset prices." Link to full bio: http://aida.wss.yale.edu/~shiller/bio.htm Dr. Jeremy Siegel is the Russell E. Palmer Professor of Finance at the Wharton School of the University of Pennsylvania. He graduated from Columbia University in 1967, received his Ph.D. in Economics from the Massachusetts Institute of Technology in 1971, and spent one year as a National Science Foundation Post-­‐Doctoral Fellow at Harvard University. Prof. Siegel taught for four years at the Graduate School of Business of the University of Chicago before joining the Wharton faculty in 1976. Prof. Siegel has written and lectured extensively about the economy and financial markets, has appeared frequently on CNN, CNBC, NPR and others networks. He is a regular columnist for Kiplinger’s and Yahoo! Finance and has contributed articles to The Wall Street Journal, Barron’s, The Financial Times and other national and international news media. Prof. Siegel served for 15 years as head of economics training at JP Morgan and is currently the academic director of the U.S. Securities Industry Institute. Link to full bio: http://www.jeremysiegel.com/index.cfm/fuseaction/Display.Page/page/about_bio.cfm Russ Koesterich, CFA is the Chief Investment Strategist for BlackRock and iShares Chief Global Strategist. He is a founding member of the Blackrock Investment Institute, delivering BlackRock's insights on global investment issues. During his 20+ year career as an investment researcher and strategist, Russ has served as the Global Head of Investment Strategy for scientific active equities and as senior portfolio manager in the US Market Neutral Group at BlackRock. Russ is a frequent contributor to financial news media and can regularly be seen on CNBC, Fox Business News and Bloomberg TV. He is the author of two books, including his most recent "The Ten Trillion Dollar Gamble," which details how to position portfolios for the impact of the growing U.S. deficit. Russ is also regularly quoted in print media including the Wall Street Journal, USA Today, MSNBC.com, and MarketWatch. Russ earned a BA in history from Brandeis University, a JD from Boston College and an MBA in capital markets from Columbia University. Link to full bio: http://www2.blackrock.com/us/common/bios/russ-­‐koesterich Brian Wesbury is Chief Economist at First Trust Advisors L.P., a financial services firm based in Wheaton, Illinois. Mr. Wesbury has been a member of the Academic Advisory Council of the Federal Reserve Bank of Chicago since 1999. In 2012, he was named a Fellow of the George W. Bush Presidential Center in Dallas, TX where he works closely with its 4%-­‐
Growth Project. His writing appears in various magazines, newspapers and blogs, and he appears regularly on Fox, Bloomberg, CNBC and BNN Canada TV. In 1995 and 1996, he served as Chief Economist for the Joint Economic Committee of the U.S. Congress. The Wall Street Journal ranked Mr. Wesbury the nation’s #1 U.S. economic forecaster in 2001, and USA Today ranked him as one of the nation’s top 10 forecasters in 2004. Link to full bio: http://www.ftportfolios.com/common/research/brianwesburybio.pdf David P. Kelly, Managing Director, is the Chief Market Strategist for J.P. Morgan Funds. An employee since 2008, David provides valuable insight and perspective on the economy and markets to thousands of financial advisors and their clients. Throughout his career, David has developed an unique ability to explain complex economic and market issues in a language that financial advisors can use to communicate to their clients. He is a keynote speaker at many national investment conferences. David is also a frequent guest on CNBC, and other financial news outlets and is widely quoted in the financial press. Prior to joining J.P. Morgan Funds, David served as economic advisor to Putnam Investments. In the industry since 1990, he has also served as a senior strategist/economist at SPP Investment Management, Primark Decision Economics, Lehman Brothers and DRI/McGraw-­‐Hill. He has a B.A. in economics from University College Dublin in the Republic of Ireland, an Ph.D. and M.A. in economics from Michigan State University. David is also a CFA charterholder. Link to full bio: https://www.jpmorganfunds.com/blobcontent/97/873/1275699755130_MI-­‐BIO-­‐DK.pdf Liz Ann Sonders is Senior Vice President, Chief Investment Strategist, Charles Schwab & Co., Inc. Liz Ann has a range of investment strategy responsibilities reaching from market and economic analysis to investor education, all focused on the individual investor. She analyzes and interprets the economy and markets on behalf of Schwab’s entire client base and chairs Schwab’s Investment Strategy Council, which provides strategic asset allocation guidance and tactical sector recommendations for the company’s investor base. The output of Liz Ann’s work is via written reports, audio and video recordings, conference calls, and webcasts. She is a regular contributor to all of Schwab’s client newsletters and the keynote speaker at many of the company’s corporate and client events. She is also a keynote speaker at many outside conferences, including for Barron’s, FPA, CFA Institutes, Morningstar and IMCA. Link to full bio : http://merage.uci.edu/ResearchAndCenters/CIWM/Resources/Documents/Sonders%20Bio%202013 John Maudlin is the President at Millennium Wave Investments. Mr. Mauldin is also a Member of the Investment Advisory Committee at Pro-­‐Financial Asset Management Inc. He is a Sub-­‐Advisor and Member of the Investment Advisory at Pro-­‐Hedge Funds and is employed at the firm since July 2005. He is a Member of the Investment Advisory Committee at the firm. Mr. Mauldin is a prolific author, investment authority, investment analyst, and Editor of the popular Thoughts from the Frontline e-­‐letter which reaches over 1,500,000 readers weekly. His critically acclaimed new book, Bull’s Eye Investing, Targeting Real Returns in a Smoke and Mirrors Market cuts though the fog of investment information and gives concrete advice for structuring absolute return portfolios. As a recognized expert on alternative investments and hedge funds, Mr. Mauldin is primarily involved in private money management, financial services, and investments. He is known for his unique ability to present complex financial topics in a manner that is equally understandable to both the general populous and the industry professional. He serves as the President of Millennium Wave Advisors, LLC. Mr. Mauldin has been a Director of Galectin Therapeutics since May 2011. Link to bio: http://www.mauldineconomics.com/about-­‐us/john-­‐mauldin Jeremy Grantham is co-­‐founder and Chief Investment Strategist of Grantham Mayo van Otterloo (GMO), a Boston-­‐based asset management firm. He is a member of GMO’s Asset Allocation team, serving as the firm’s chief investment strategist. Prior to GMO’s founding, Mr. Grantham was co-­‐founder of Batterymarch Financial Management in 1969 where he recommended commercial indexing in 1971, one of several claims to being first. He began his investment career as an economist with Royal Dutch Shell. He is a member of the GMO Board of Directors and has also served on the investment boards of several non-­‐profit organizations. He earned his undergraduate degree from the University of Sheffield (U.K.) and an MBA from Harvard Business School. Link to bio: http://www.gmo.com/america/about/people/_departments/assetallocation.htm John Peter Hussman, Ph.D has been President of Hussman Investment Trust -­‐ Hussman Strategic Total Return Fund since June 2000 and serves as its Chief Executive Officer. Dr. Hussman serves as Chairman, President and Portfolio Manager at Hussman Econometrics Advisors Inc. Dr. Hussman serves as Chief Executive Officer and President of Hussman Strategic Growth Fund. He serves as President, Portfolio Manager and Chairman of Hussman Investment Trust -­‐ Hussman Strategic International Fund and Hussman Investment Trust -­‐ Hussman Strategic Dividend Value Fund. Dr. Hussman has been active in the financial markets since 1981 and portfolio management since 1993. Since 1980, he served as an Options Mathematician at Peters & Company at the Chicago Board of Trade. In 1988, he began publishing the Hussman Econometrics newsletter. Dr. Hussman's academic research centers on market efficiency and information economics. Prior to managing the Hussman Funds, He was an Adjunct Assistant Professor of Economics and International Finance at the University of Michigan and the Michigan Business School from 1992 to 1999. He has been Trustee of Hussman Investment Trust-­‐ Hussman Strategic Total Return Fund and Hussman Strategic Growth Fund since 2000. He serves as a Trustee of University of Miami. He received a Ph.D. in Economics from Stanford University in 1992, a Masters degree in Education and Social Policy in 1985, and a Bachelor’s degree in Economics, Phi Beta Kappa in 1983 from Northwestern University. William H. Gross is a founder, managing director and co-­‐CIO of PIMCO based in the Newport Beach office. He has been with PIMCO since he co-­‐founded the firm in 1971 and oversees the management of more than $1.9 trillion of securities. He is the author of numerous articles on the bond market, as well as the book, "Everything You’ve Heard About Investing is Wrong," published in 1997. Among the awards he has received, Morningstar named Mr. Gross and his investment team Fixed Income Manager of the Decade for 2000-­‐2009 and Fixed Income Manager of the Year for 1998, 2000, and 2007 (the first three-­‐time recipient). He received the Bond Market Association’s Distinguished Service Award in 2000 and became the first portfolio manager inducted into the Fixed Income Analysts Society's hall of fame in 1996. Mr. Gross is a nine-­‐time Barron's Roundtable panelist (2005-­‐2013), appearing in the annual issue featuring the industry's top investment experts, and he received the Money Management Lifetime Achievement Award from Institutional Investor magazine in 2011. In a survey conducted by Pensions and Investments magazine in 1993, he was recognized by his peers as the most influential authority on the bond market in the U.S. He has 43 years of investment experience and holds an MBA from the Anderson School of Management at the University of California, Los Angeles. He received his undergraduate degree from Duke University. Link to bio: http://www.pimco.com/EN/Experts/Pages/BillGross.aspx Jeffrey E. Gundlach, is the Chief Executive Officer and Chief Investment Officer of DoubLine. He was formerly associated with TCW where he was Chief Investment Officer and head of fixed income activities. He is recognized as a leading expert in bond and fixed income investments. His investment strategies have been featured inleading publications including The New York Times, The Financial Tiimes, The Wall Street Journal, USA Today, Barron’s, Forbes, and Fortune. In 2010, Mr. gundlach was named to the SmartMoneyPower 30. In 2011, he was featured as “The King of Bonds” in Barron’s and named on of 5 Mutual Fund All-­‐Stars” by Fortune Magazine. In 2012, he was named one of the “50 Most Influential” by Bloomberg Markets magazine. He is a graduate of Dartmouth College summa cum laude holding a BA in Mathematics and Philosophy. He attended Yale University as a PhD Candidate in Mathematics. Link to bio: http://www.doubleline.com/bios.php