Expertise DescriptionI have more than 40 years experience in the field of Forensic Economics. My areas of expertise include securities and securities fraud, calculation of damages, business operations, derivatives, futures, options (including covered calls and naked options), antitrust, finance / statistics, stock / bond investments, mutual / hedge funds, economic loss, financial investment strategies, risk management, project management, global financial markets, and water rights. I have over 5 years expert witness experience with consultations, deposition, and courtroom testimony.
Areas of Expertise
My expert witness includes: Broker conduct involving sales of private securities, IPO Underwriter fraud, failed hedge fund investments, I investigated major clearing firm for abuses of anti-money laundering, due diligence practices, statistical analysis pertaining to labor law.
My professional experience includes: Department Chair, Endowed Chair in Economics and Business.
A brief summary of my background is as follows: I hold degrees from Penn State (BS), MIT (MS), and UCLA (Phd). I taught concepts and principles of antitrust economics. I also held real estate brokerage licenses in both Colorado and California and bid on tax sales in both states, so I am familiar with tax sales. I have experience with vetted investment funds dealing with state tax sales, among other things. I have been providing expert witness services in antitrust and securities/hedge fund fraud for many years, and have testified in courts and arbitrations. I have also received both teaching and literary awards.
I am a former professor of economics and business, a hedge fund manager, and Director of Research for Morgan Stanley. As a professor, I taught graduate level courses in risk management and investing including alternative investments. Additionally, I authored 2 books on investing with alternative investments. As a former hedge fund manager, I have experience and understanding of what due diligence and disclosures mean for FINRA and for public protection. I had the opportunity to conduct due diligence on hedge funds that were candidates for in-house proprietary funds, and in that capacity I examined the adherence of hedge fund managers to the rules and regulations of the SEC, NFA and FINRA.
I have extensive experience in statistical analysis, economics and real world business experience, as well as academic credentials to provide a foundational and practical basis for damage calculations. My academic background includes being a professor and Department Chair of the Statistics Department at the College of Business for a university, and I was a holder of an Endowed Chair in Economics and Business at a college in Pennsylvania. Later, I ran an investment firm, which was ultimately merged with my largest client, Morgan Stanley, where I served as a Director of Research until my retirement in 2004. I then founded an LLC to serve as an expert witness in statistical, economic and financial areas. My expert witness experience includes many cases involving economic damages in a variety of businesses, including several antitrust cases. I am a winner of awards for teaching and literary achievements, further demonstrating abilities to explain complex subjects, as well as developing written reports.
My relevant background begins with my tenure as a professor, Department Chair, and holder of an Endowed Chair in Economics and Business where I taught the principles of commodity trading, including preparation for the Series 3 Examination as part of courses, which also included the use of commodity accounts in investment portfolios. I also wrote 2 books on the subject. Next, I was President of a top institutional and high net worth commodity trading firm, where I was responsible for all aspects of running a CTA. My largest client was Morgan Stanley, who bought me out and where I became their Director of Research for Managed Futures. I have been an industry spokesman at conferences and arbitrator for the NFA, and won the Rose Baratz Literary Award for my contributions to commodity trading and managed futures. I have been an expert witness in numerous cases involving commodity trading, hedge funds, and securities fraud.
I was also President of an investment management firm that I merged into a major investment firm, where I became Director of Research until I retired in mid 2000's. I then formed my own firm to provide expert witness services in calculating economic damages, securities fraud and antirust, among other things.
|B.S.||Aerospace Engineering||Penn State University|
|M.S.||Aeronautics and Astronautics||MIT|
Awards & Affiliation
|Winner of Cecil Puckett Award for Excellence in Teaching|
|University of Denver|
|Ross Baratz Foundation|
Pennsylvania Economics Association
Partial List of Consulting Expert Witness Cases