Louis P. Goldstein

DJG's investment process begins with screening for stocks that are priced significantly below their worth, where a catalyst is likely to move the stocks price in the direction of its intrinsic value. The firm uses in-depth research to invest in US equities that are selling at a significant discount to intrinsic value. DJG thoroughly examines companies with the goal of evaluating underlying economic value and how that value might be passed along to shareholders, particularly by changes in management, financial structure, or business strategy. Equities with high potential are scrutinized in-depth to refine the determination of intrinsic value through comparative peer company valuations, announced transaction pricing and intensive cash flow analysis. Their investment committee monitors portfolio selection and construction. They will sell a stock when the price to intrinsic value gap has significantly narrowed, management changes the strategic plan, the fundamentals deteriorate or the portfolio needs diversification. DJC focuses on small-mid cap companies in across all sectors.

ASC provides a consistent investment strategy across all like accounts in an effort to achieve long-term performance for its clients. Investment decisions for all clients are made by their Investment Committee and Fixed Income Committee of the firm on the basis of an analysis of publicly available information. ASC performs security analysis in an effort to identify primarily large to mid-cap securities where they believe the earnings of the issuer will be greater in the future (generally 12-24 months) than in its recent past. The firm utilizes internally generated research, complemented by independent third-party research, to identify securities as potential investments for clients.

Oppenheimer manages separate US small-, mid- and large-cap and value equity portfolios and separate non-US international and global equity portfolios. The firm also offers an array of separately managed institutional investment products. Their proprietary research approaches designed to deliver alpha to client portfolios. Oppenheimer's value strategies are designed to generate alpha through research insights that identify securities trading at a discount to intrinsic value. Their value strategy platform contains several equity strategies managed for long-term appreciation over a full market cycle. Their value strategies include large-cap value, mid-cap value, small-cap value, all cap value and balanced value. Oppenheimer's core strategies incorporate a value-oriented investment approach that emphasizes strong management and franchise quality when analyzing companies and identifying attractive investment opportunities. Their core strategy platform is managed for long-term appreciation over a full market cycle and includes large-cap focus, strategic equity, small-cap core and all cap equity. Oppenheimer's growth strategies employ a bottom-up fundamental research approach. The goal is to identify growing businesses through proprietary fundamental research, bearing in mind a long-term investment horizon. They believe this is the best way to identify differentiated insights about a stock's earnings potential and ultimately generate strong returns. Their growth strategies include large-cap growth, mid-cap growth, small-cap growth and 130/30 S/M growth. The firm's global strategies include core and value-oriented investment approaches that emphasize strong management and franchise quality when analyzing companies and identifying attractive investment opportunities. Their global strategy platform is managed for long-term appreciation over a full market cycle and includes international equity and global equity. Oppenheimer's fixed-income strategies incorporate a multi-sector approach investing in U.S. government, agency and corporate bonds. Their fixed-income strategies seek long-term outperformance of client specific benchmarks over a full market cycle. These strategies include fixed-income core, fixed-income core plus, fixed-income intermediate and fixed-income government/corporate. Oppenheimer also offers structured alpha strategies that integrate their proprietary index options approach with underlying fixed income, passive equity or active equity portfolios. The strategies are designed to achieve absolute-return, alpha-enhancement and beta-hedging. One of the key benefits of this approach is the consistently low correlation of the alpha source to the underlying portfolio. These strategies include structured alpha and enhanced index.

Blackstone Corporate invests in middle market companies located across the globe. The firm targets companies operating across a broad range of sectors and industries. It provides financing for buyout and growth stage capital requirements.

Provides investment advice

PEA's investment process is centered on bottom-up fundamental research analysis. The firm begins with a quantitative analysis to determine if the stock is reasonably priced with respect to its peer group on a historical and current basis. They then conduct fundamental research by carefully evaluating the financial statement and sell-side brokerage reports. They complement their financial analysis with interviews of company management, competitors and other industry experts to establish a high level of confidence in the company's business model, future prospects and financial outlook. Portfolio holdings are monitored daily to ensure that client investment policies are strictly followed. They actively strive for diversification by constantly reviewing securities in a variety of industries. PEA gleans investment ideas from numerous sources including in-house research, Wall Street research, and investment publications. Fixed-income investment is handled by Pacific Investment Management Co. in Newport Beach, California.

Functions as a College/University