Warren Stein, Lazard Asset Management

Lazard Asset Management

Warren Stein,

Senior Vice President, Portfolio Analyst

Lazard Asset Management LLC (New York)

Warren Stein is a Portfolio Analyst on the Lazard Alternative Emerging Markets investment team. He began working in the investment field in 1985 at Toronto Dominion Bank in New York, where he initially managed US dollar funding for the bank’s loan portfolio and later managed the money market sales and trading desk. From 1993 to 1997 he focused on arbitrage trading, and from 1997 to 2002 he was a co-manager of the convertible portion of a multi-strategy fund at LibertyView Capital Management. From 2003 to 2007, Warren was a portfolio manager at HSBC Asset Management, where he managed a portfolio of convertible bonds in a multi-strategy arbitrage fund. He joined Lazard Asset Management in 2007.Warren has an MBA in Finance from Columbia University, an MM from Yale University, and a BA in Music from SUNY Albany.


Scott Storkamp – Morgens, Waterfall, Vintiadis & Company

Morgens, Waterfall, Vintiadis & Company

Scott Storkamp – Senior Portfolio Manager, joined Morgens, Waterfall, Vintiadis & Company, Inc. in June of 2007 covering consumer, media, semiconductors, and software.  Previously, he was Vice President-Investments at UBS Private Wealth Management. He also managed individual portfolios for eight years at Merrill Lynch Private Client. He graduated from West Point as a distinguished Cadet (top 5%) with a Bachelor of Science degree in Economics and received a Masters in Business Administration, with honors, from the Columbia Business School.

The Firm – Morgens, Waterfall, Vintiadis & Company, Inc. (“MWV” or the “Firm”) was founded in the 1960s by Ned Morgens and Bruce Waterfall. The Firm is one of the oldest hedge fund management companies still in existence. Over the past five years, the Firm has been transitioning to the next generation of leadership while preserving the principles of in-depth, company-by-company research. In late 2016, Ned realigned portfolio responsibilities while still maintaining a supervisory role. Scott Storkamp, Senior Portfolio Manager, has over 26 years of experience and has been with the Firm for more than 10 years. Beginning in 2017, Scott became responsible for managing the largest portion of the portfolio. The investment team also consists of Teresa Dereniak, Senior Analyst in Life Sciences and Healthcare, and John Raphael, Trader.

The Firm’s experienced investment team is supported by accounting, compliance and client services teams with a total staff of 11 located in Rockefeller Center. The Firm became SEC registered in 1997. MWV’s Prime Broker is Morgan Stanley & Co. LLC; its auditor KPMG LLP; and its legal counsel Schulte Roth & Zabel LLP. The Firm has both a domestic and offshore fund. The majority of the Assets Under Management are owned by the principal, the employees and their families. As of March 31, 2019, Assets Under Management were $135.6 million.

Our Approach to Investing We identify and study the current trends in society and technology where rapid change is occurring and try to identify perception gaps.

Our Investment Process – We select investments with extreme care, using deep research which entails truly understanding industries and technologies. We travel extensively to meet and question the management teams of our companies multiple times per year.

Our Areas of Expertise – Our current areas of deep industry knowledge include technology with specialization in consumer, media, semiconductors, and software businesses. Our focus extends to life sciences, which includes companies as traditional as pharmaceuticals and insurance, but also includes emphasis on biotechnology, gene editing, and immunotherapy technologies.

Ownership Mentality – Our objective is to produce long-term capital gains. We tend to own growing, successful positions for long periods of time and seek to dispose of unsuccessful positions.

Short Selling – We seek to short companies with questionable managements, poor competitive positions, weak profit margins, and in declining economic sectors, not just to hedge our long positions. The portfolio is predominately long most of the time, represented by about twenty of the best companies we can find.

Risk Control – Generally, we don’t use leverage. Our longs rarely exceed one hundred percent of equity and the shorts usually bring net exposure below that. We limit concentration in any one position and have stop-loss disciplines to limit risk.


Bradley Sussman

Ramius

Prior to joining Ramius, Bradley Sussman was a managing director at Merrill Lynch, where he established hedge fund strategic allocations, model portfolios and provided accompanying advice and guidance to investors. He was a voting member of the alternative investments investment committee overseeing hedge funds, private equity and third party fund of funds. He was also Merrill Lynch’s head of non-traditional mutual fund due diligence, leading fund sourcing and research, creating and managing both model and live portfolios and publishing a monthly non-traditional mutual fund guide.

Before Merrill Lynch, Sussman was a portfolio manager at Ivy Asset Management for over a decade and was responsible for managing $3.5 billion across 18 hedge fund of funds portfolios. At Ivy, he also served as a member of the investment risk management committee and product development team.
Prior to Ivy, Sussman worked as vice president of research for Bear Hunter Specialists. He began his career as a financial advisor associate at Sanford C. Bernstein & Co., where he serviced accounts for high net worth individuals, families, foundations, trusts and pension funds.

He received a BA in Political Science from Yale, and is a CFA and CAIA Charter Holder.


Nina Tannenbaum

nina new photo

Nina Tannenbaum is a managing director and portfolio manager for large US institution, with a particular focus on alternatives. She is actively involved in asset allocation and risk management thought leadership, and serves on various financial industry boards.  She holds her BA, cum laude, from Columbia College in the City of New York, and her MBA from the MIT Sloan School of Management.


Timothy Terry, Hartz Capital

Hartz Capital

tim terry resizedTim Terry is General Counsel for Hartz Capital, Inc., the investment arm and single family office (“SFO”) of a prominent New York family, where he serves as the chief legal and compliance officer for a broadly diversified multi-billion dollar investment portfolio.  Mr. Terry also serves on the Board of Directors of The Private Investor Coalition, Inc., a non-profit formed by and for SFOs to address legislative and regulatory issues impacting the SFO community.  Prior to becoming an attorney, Mr. Terry worked for 8 years as a legislative director, press secretary and legislative staff member in the U.S. House of Representatives and for 3 years as a federal lobbyist for a number of business organizations and public agencies.  Mr. Terry holds a B.A. in Government from the University of Texas at Austin and a J.D. from the University of California – Hastings College of the Law in San Francisco and is a Trustee of The Hastings Foundation.  He is admitted to practice law in California and New Jersey.