TUEsday, Nov. 17, 2020
Noon to 1:30 p.m.
Via Microsoft Teams
Join us for a lively and informative virtual discussion on Post-Election Financial Markets with a panel of experts from the University of South Florida Sarasota-Manatee campus and Cumberland Advisors.
Noon to 1:30 p.m.
Dr. Karen A. Holbrook, Regional Chancellor, USF Sarasota-Manatee campus
Jean Kabongo, PhD, Campus Dean, Muma College of Business
Overview of the Political and Economic
David R Kotok, Chairman & Chief Investment Officer Cumberland Advisors
|12:25 to 12:50 p.m.||
Bond Markets and Credit - Interest Rates, the Fed and Congress
Eddie Sanchez, PhD, Finance Instructor, University of South Florida, Sarasota-Manatee Campus
John R. Mousseau, CFA, President, Chief Executive Officer & Director of Fixed Income, Cumberland Advisor
Robert A. Eisenbeis, PhD, Vice Chairman and Chief Monetary Economist, Cumberland Advisors
Patricia M. Healy, CFA, Senior Vice President of Research and Portfolio Manager, Cumberland Advisors
12:50 p.m. to 1:15 pm
Domestic and International Equity Markets Post Election
Matthew McAleer, Executive Vice President & Director of Equity Strategies, Cumberland Advisors
Bill Witherell, PhD, Chief Global Economist & Portfolio Manager, Cumberland Advisors
Leo Chen, PhD, Portfolio Manager & Quantitative Strategist. Cumberland Advisors
1:15 to 1:30 p.m.
Questions and Answers with Panelists
David R. Kotok, Chairman & Chief Investment Officer
David Kotok co-founded Cumberland Advisors in 1973 and has served as its chief investment officer since inception. His articles and financial commentaries have appeared in “The New York Times,” “The Wall Street Journal,” “Barron’s” and other publications. He is a frequent contributor to Bloomberg TV and has authored or co-authored four books, including the second edition of “From Bear to Bull with ETFs” and “Adventures in Muniland.” Additionally, he serves as a director of the Global Interdependence Center, whose mission is to encourage the expansion of global dialogue and free trade in order to reduce international conflicts and improve worldwide living standards. He holds a BS in economics from The Wharton School at the University of Pennsylvania and an MS in organizational dynamics and MA in philosophy, both from the University of Pennsylvania. Kotok is a member of the National Business Economics Issues Council and the National Association for Business Economics. He served as a commissioner of the Delaware River Port Authority and on the Treasury Transition Teams for New Jersey Governors Kean and Whitman. Additionally, he served as chairman of the New Jersey Casino Reinvestment Development Authority.
John R. Mousseau, CFA, President, Chief Executive Officer and Director of Fixed Income
John Mousseau is president, chief executive officer and director of fixed income at Cumberland Advisors. He serves as a portfolio manager and oversees portfolio construction, management, analysis, trading and research for all tax-free and taxable bond accounts. His comments and analyses have appeared in “Barron’s,” “The Wall Street Journal,” “Forbes,” and “The New York Times,” among other publications. He has contributed to the “Municipal Finance Journal,” and has appeared on Bloomberg Television and Radio, Reuters and CNBC. He is co-author of the book “Adventures in Muniland,” and he has taught at the New York Institute of Finance and the Bond Market Association. Mousseau has more than 35 years of investment management experience. Prior to joining Cumberland in 2000, he served as director of municipal bond investments at Lord Abbett & Co. He holds a BA in economics from Georgetown University and an MA in economics from Brown University. He is a member of the National Federation of Municipal Analysts, the National Association of Business Economics and the National Economists Club. He also served as chairman of the Municipal Bond Buyers Conference.
Robert Eisenbeis, PhD, Vice Chairman & Chief Monetary Economist
Bob Eisenbeis serves as chief monetary economist at Cumberland Advisors. In this role, he advises Cumberland’s asset managers on developments in U.S. financial markets, the domestic economy and their implications for investment and trading strategies. Before joining Cumberland in January 2008, Bob served as executive vice president and director of research at the Federal Reserve Bank of Atlanta, where he advised the bank’s president on monetary policy for FOMC deliberations and oversaw basic research and policy analysis. Prior to that, he was the Wachovia professor of banking at the Kenan-Flagler School of Business at the University of North Carolina at Chapel Hill. He has also held senior positions at the Federal Reserve Board and FDIC. Eisenbeis holds a PhD and MS degree from the University of Wisconsin and a BS degree from Brown University. In addition, he serves as a member of Financial Economist Roundtable and a fellow of both the National Association of Business Economics and Wharton Financial Institutions Center. Commentaries and charts produced by Eisenbeis may be viewed here: www.cumber.com/tag/robert-eisenbeis.
Leo Chen, PhD, Portfolio Manager and Quantitative Strategist
Leo Chen serves as a portfolio manager and quantitative strategist at Cumberland Advisors. In this capacity, he oversees equity strategies that focus on volatility and market sentiment. He also works directly with clients as an investment advisor representative. Chen specializes in quantitative analysis, particularly in time-series empirical research. His research relies on stochastic calculus and Brownian motion and utilizes quantitative methods to examine market returns and underlying volatilities. Chen’s research has been cited by the “Wall Street Journal,” “Barron’s,” “MarketWatch” and various media in Asia and Europe. Chen joined Cumberland Advisors as a consultant in 2014 and became a portfolio manager in 2016. He earned a PhD in finance from the University of South Florida and a BA degree in economics from the University of Rochester. In 2010, he served as a research scholar in mathematics at the Fields Institute for Research in Mathematical Sciences (Toronto). In addition to his role at Cumberland, Chen is the director of the Student Managed Investment Fund at the University of South Florida, a fund under the USF Foundation. He also serves as a member on the university’s 403b Retirement Investment Committee.
Matthew McAleer, Executive Vice President & Director of Equity Strategies
Matt McAleer serves as the executive vice president and director of equity strategies at Cumberland Advisors. He is a member of Cumberland’s board of directors and executive committee, and he is responsible for overseeing all aspects of Cumberland’s equity group, including portfolio management, research and trading. With a focus on quantitative research, McAleer utilizes detailed trend, price and relative strength analysis to manage portfolio construction and to identify investment opportunities across multiple asset classes. He also serves as chairman of the firm’s investment committee and has over 25 years of investment management experience. Prior to joining Cumberland in April 2014, McAleer served as a portfolio manager at Hudson Canyon Investment Counselors and Classic Asset Management. He earned a BS degree in marketing and economics from Rider University. His recap of weekly trading activity can be viewed on YouTube at: www.youtube.com/cumberlandadvisors.
William H. Witherell, PhD, Chief Global Economist & Portfolio Manager
Bill Witherell serves as Cumberland Advisors’ chief global economist, focused on international research as it relates to equity opportunities overseas. He joined Cumberland November 2005 and became a portfolio manager in December 2005. In addition, he serves as a senior consultant for finance and corporate governance to the Organization for Economic Cooperation and Development. Witherell began his career as a business economist at Exxon and Esso Eastern, where he held positions in the economics, treasury and corporate planning functions. Later, he moved to the international economic and financial relations field, with positions in the U.S. Department of State and Department of the Treasury as director of the Office of Financial Resources and Energy Finance. Additionally, Witherell is past chair of the International Roundtable of the National Association for Business Economics. He graduated from Colby College and holds MA and PhD degrees in economics from Princeton University.
Patricia M. Healy, CFA, Senior Vice President of Research & Portfolio Manage
Patty Healy is a senior vice president of research and a portfolio manager at Cumberland Advisors. In that role, she provides integral research and insight while serving as a member of the team managing portfolio construction, management, analysis, trading and research for tax-free and taxable bond accounts. She joined Cumberland in 2016 and previously served as senior director for Bayern LB. Additionally, she was as a credit analyst at TD Securities and Offitbank and worked at the credit rating agencies Standard & Poor’s and Fitch. Healy frequently contributes to water industry discussions and is active in the public finance community, participating in conferences and committee positions. Her comments have appeared in the “New York Times,” “The Philadelphia Inquirer,” and other media. She holds a BS in finance from the State University of New York at New Paltz and holds a Chartered Financial Analyst designation. Additionally, she is a member of the Municipal Analysts Group of New York, the CFA Institute, and the New York Society of Securities Analysts.
Karen A. Holbrook, PhD, University of South Florida Sarasota-Manatee Campus
Karen A. Holbrook was appointed regional chancellor of the University of South Florida Sarasota-Manatee campus in 2018 after serving as the campus’ executive vice president and as senior advisor to the president of the University of South Florida. She served for one year as interim president at Embry-Riddle Aeronautical University before returning to USF, and previously served as USF’s senior vice president for global affairs and international research (2010-12), senior vice president for research, innovation and global affairs (2007-10) and as senior advisor to the USF president (2013-16). Holbrook came to USF after serving as president at The Ohio State University (2002-07). She earned BS and MS degrees in zoology at the University of Wisconsin in Madison and a doctorate in biological structure at the University of Washington School of Medicine. She serves on the boards of the Institute of International Education, CRDF Global, Bio-Techne, Academic Assembly Inc., INTO USF, and is immediate past board chair of Oak Ridge Associated Universities (ORAU). Previously, she served on the boards of the American Association for the Advancement of Science, ACT Inc., the Association of American Medical Colleges, and the American Council of Education, among others.
Jean Kabongo, Campus Dean and Professor, Muma College of Business
Jean D. Kabongo serves as campus dean in the Muma College of Business and as a professor of strategic management and entrepreneurship at University of South Florida Sarasota-Manatee campus. Prior to joining the campus in 2010, Kabongo was an assistant professor at Millersville University of Pennsylvania. He also taught at Virginia State University. His research is focused on the analysis and promotion of sustainable practices in organizations, sustainable entrepreneurship and entrepreneurship education in developing economies. His recent papers have been published in “Journal of Business Ethics,” “Business Strategy & the Environment,” “International Journal of Sustainable Strategic Management,” “Journal of the World Business,” “International Journal of Entrepreneurial Behavior & Research” and the “Journal of Small Business and Enterprise Development.” He holds a PhD in management from Université Laval, Canada.
Eddie Sanchez, Finance Instructor & Director of the Bloomberg Financial Markets Lab, USF Sarasota-Manatee campus
Eddie Sanchez, Jr., is a finance instructor at the University of South Florida Sarasota-Manatee campus and the director of the campus’ Bloomberg Financial Markets Lab. He earned a doctorate in business administration (DBA) with a concentration in finance from the University of Florida. He received a master’s degree in business administration and portfolio management/security analysis from the Heider College of Business at Creighton University and a master’s degree in economics from Trinity College. He received a BS in computer science from Quinnipiac University. Sanchez’s research focuses on municipal bonds, hedge funds, mutual funds, capital markets and financial institutions. He has more than 20 years of experience as a hedge fund portfolio manager and securities analyst, and he managed long/short technology and telecommunications portfolios at Citigroup Investments, First New York Securities, The Galleon Group, Credit Suisse and the Blackthorn Group.