Global Independent Research Conference 01032018.pdf · Global Independent Research Conference ... Big Data, and flexible, intuitive user interfaces to generate forward-looking global,

London, March 1, 2018

4th

Organised by Supported by

1 Wimpole Street, London

Global Independent Research

Conference

Sponsors

Lead Sponsor

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8am – Registration/Breakfast

8.30am – Global MacroModerator: Daisy McAndrew, Freelance Radio and TV Presenter, Reporter and WriterSpeakers:Charles Dumas, Chief Economist, TS LombardAnatole Kaletsky, Founding Partner & Chief Economist, Gavekal ResearchPeter Perkins, Partner and Global Strategist, MRB (Macro Research Board)

9.40am – Global Asset AllocationModerator: Ian MacFarlane, Head of Research, ClearMacroSpeakers:Michael Howell, Managing Director, Crossborder CapitalGaurav Saroliya, Director of Global Macro Strategy, Oxford EconomicsErik Britton, Managing Director & CEO, Fathom ConsultingTim Hayes, Chief Global Strategist, Ned Davis Research

10.40am – Coffee break

Break-out sessions

Guy-Whittle Auditorium

11.10am – Emerging MarketsModerator: Daisy McAndrew, Freelance Radio and TV Presenter, Reporter and WriterSpeakers:Christopher Granville, Managing Director, EMEA & Global Political Research, TS LombardTom Miller, Senior Asia Analyst, Gavekal ResearchAdam Wolfe, Asia Strategist, MRB (Macro Research Board)Diana Choyleva, Chief Economist, Enodo Economics

12.10pm – Global Sector AllocationModerator: Andy Hartwill, CEO, Quasar Financial ResearchSpeakers:Simon Goodfellow, Managing Partners, Harlyn Research LLPPaul Wildman, Co-Founder, Value Momentum ResearchTim Hayes, Chief Global Strategist, Ned Davis Research

Max Rayne Auditorium

11.10am – CurrenciesModerator: Mike Carrodus, Founder & Chief Executive Officer, Substantive ResearchSpeakers:Maarten Spek, Senior Analyst Financial Markets, ECR ResearchTim Parker, Chief Executive, Messels

12.10pm – Commodities Moderator: Daisy McAndrew, Freelance Radio and TV Presenter, Reporter and WriterSpeakers:Peter Goodburn, Managing Director, WaveTrack InternationalCaroline Bain, Chief Commodities Economist, Capital EconomicsDan Smith, Director of Commodity Services, Oxford Economics

1pm – Lunch

Top-Down Sessions

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Max Rayne Auditorium

2.30pm – Breaking Down the Year of Amazon: How Its2017 Moves Set the Stage for the Next Evolution of ItsLonger-Term Cash Flow StorySpeaker: R.J. Hottovy, CFA, Global Consumer EquityStrategist, Morningstar

3pm – US Health Care Risk and Opportunity in theTrump EraSpeaker: Rob Smith, Director, Capital Alpha Partners

3.20pm - Defense and Industrial Policy: Breaking Bad?Speaker: Byron Callan, Director, Capital Alpha Partners

3.45pm – Coffee Break

4pm – Factor Investing: Using Value and Momentum StrategiesSpeakers: Paul Wildman, Co-Founder, Value Momentum ResearchMichael Ellis, Co-Founder, Value Momentum ResearchIan Conway, Co-Founder, Value Momentum ResearchEkaterina Radkovskaya, Equity Analyst & Sales, Value Momentum Research

Bottom-Up Sessions

Guy-Whittle Auditorium

2pm – Investment Research in MIFIDIIKeynote Speaker: Adam Wreglesworth, Technical Specialist, Markets Policy, Strategy & Competition Division, Financial Conduct Authority

2.30 to 3.45pm – MIFIDII, 2 months inModerator: Glenn Bedwin, Director, Euro IRPSpeakers:Steve Jarrett, CEO, WorldflowMike Carrodus, Founder & CEO, Substantive ResearchMark Artherton, Head of Content Strategy (Europe), Smartkarma InnovationsJames Flavin, CEO, KiteEdgeChris Turnbull, Co-founder, ERIC

3.45pm – Coffee Break

MIFIDII sessions

Guy-Whittle Auditorium

4:00pm: Next Generation Decision Making: Big Data & AI vs Small Data & HI – Can Human Intelligence still beat the machine? + Participation Survey Results Speakers:Mike Simcock, CEO and Head of Systematic Portfolio Solutions, ClearMacroMichael Howell, Managing Director, CrossborderCapitalShota Ishi, CEO, TIBIDABO Evan Schnidman, CEO, PrattleDan Joldzic, CFA, FRM, CEO, Alexandria Technology

Big Data & AI session

5 to 6.30pm – Cocktail Reception

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ABOUT EURO IRP

ABOUT MORNINGSTAR

Morningstar is a provider of independent equity, credit and fund investment research in Europe, North America,Australia, and Asia. With a consistent focus on economic moats and intrinsic value applied across a large globalcoverage universe, Morningstar’s equity research team offers institutional investors a truly differentiated researchproduct. Morningstar’s team of 120 sector-focused analysts provides institutional research on more than 1,500stocks and over 700 corporate bonds. We also have Quantitative Research on a universe of 50,000 stocks.

For further information, please visit:www.corporate.morningstar.com/us/html/EquityResearch.htm

AlphaSense is a powerful search engine that allows you to dramatically speed up research and easily findinformation buried in millions of company documents, including filings, broker research, call transcripts, companypresentations, press releases, news, plus industry and trade journals – even web clippings and your own, uploadedcontent. Find information with one search across all content and view results on one screen. Access high valuecontent sets traditional web search engines can’t reach. Track impactful information with intelligent alerts andgain an information edge by discovering critical data points others miss. Free trials are available.www.alpha-sense.com/girc

ABOUT ALPHASENSE

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Evaluate is the trusted provider of commercial intelligence including product sales and consensus forecasts to 2022for commercial teams and their advisors within the global life science industry. We help our clients make high valuedecisions through superior quality, timely, must-have data and insights, combined with personalised, expert clientsupport. Our online subscription services cover the pharmaceutical, biotech and medtech sectors. Our CustomServices group delivers project based analytical and data services. Vantage, our independent, award-winningeditorial team, offers data-driven, forward-looking news, commentary and analysis on a daily basis.

For more information visit www.evaluate.com

ABOUT EVALUATE

Value Momentum Research has been providing bottom up independent equity research based on proprietarymetrics to portfolio managers for 20 years. The Team has variously worked at Dillon Read, BNP Paribas, Mirabaud,Schroders, Jupiter Asset Management and Deutsche Bank. The two main metrics used are 20-year Trend P/E(cyclically adjusted) and Relative Earnings Momentum. Coverage extends to over 5,000 stocks globally as well asindustry sectors which are regularly screened to identify investment risks and opportunities. Through providingbespoke portfolio work the team is integral to client investment decision process.

http://www.avaloncapitalmarkets.com/research/value-momentum-research/

ABOUT GAVEKAL

ABOUT VALUE MOMENTUM

Gavekal is one of the world's leading independent providers of investment research, covering global economies andmarkets with an emphasis on Asia. We have over 800 institutional clients around the world, including financialinstitutions and asset managers, major corporations, and government agencies. Our analysis aims to be provocative,engaging, and firmly grounded in data. We have no ‘house view,’ but encourage lively debate among our partnersand analysts, and are not afraid to air our internal debates to our clients.

A core value at Gavekal is deep engagement with our clients. We present our ideas at about twenty seminars eachyear, in New York, London, Paris, Hong Kong and other major cities. Email queries and online comments fromreaders are promptly answered. Subscribers to our Advisory level of service enjoy direct access to partners andsenior analysts through conference calls and face-to-face meetings.

For further information, please visit http://research.gavekal.com

Worldflow Connect is a leading investment research distribution and reporting platform widely used by sell-side,buy-side and independent research firms. Connect has modules for distribution to white-labelled Portals, IOS /Android Apps, Tracked Emails, Feeds to Aggregators, including Connect2 feeds to ECN’s. Connect modules are easilyintegrated, so can be used just for a Client’s Android App through to a full service Investment Research solution.

For further information about Worldflow, please visit www.worldflow.net/connect/

ABOUT WORLDFLOW

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Oxford Economics is the world’s leading global macroeconomic forecasting team with a 35 year track record. Weprovide forecasts, analysis, and data on 200 countries, 100 industries, and over 3,000 cities. Our analysis is unique,combining both a quantitative and qualitative approach. Our proprietary Global Economic Model is the world’s onlyfully integrated and customisable model, interlinking 80 countries though economic, trade, and financial variables.This allows us to run forecasts, shocks, and scenarios in a rigorous and consistent way. We then overlay thequalitative input from our team of over 200 economists and market strategists, who have an impressivecombination of Investment Bank, Central Bank, and buy-side experience. This helps us to produce the mostaccurate and thought provoking macro and strategy research in the market. http://www.oxfordeconomics.com

ABOUT OXFORD ECONOMICS

ABOUT MRB

MRB - The Macro Research Board is a privately-owned independent top-down research firm that providesintegrated, global, multi-asset investment strategy as well as actionable absolute and relative return ideas. Ourviews incorporate a long-term outlook based on in-depth thematic research, together with a rigorous set offrameworks and forecasting models/indicators that drive 6-12 month asset market performance. MRB’s team ofanalysts and strategists leverage the firm’s robust research engine and their extensive experience to form onecohesive house view and ensure that investment strategy is articulated in a client-friendly manner.To find out more, please visit www.mrbpartners.com

Founded in 2007, AlphaValue has become the world’s leading provider of Independent European Equity and CreditResearch, helping money managers to generate ideas and assess the risks and opportunities within their mid tolarge cap portfolios. Ranked N°1 independent equity research provider by Extel, we provide comprehensive,unconflicted research-only (no execution) coverage of c. 480 European mid and large cap stocks. We have anaverage of 46% of negative recommendations at any one time. www.alphavalue.com

ABOUT ALPHA VALUE

ABOUT CAPITAL ALPHA

Capital Alpha Partners, founded in 2007 and based in Washington, DC, is an independent research provider ofstrategic policy research. Our expertise includes macro analysis (tax, budget, trade) as well as sector-basedforecasting (healthcare, energy, financials, defense, transport, T&M, consumer goods). Investors depend on CapitalAlpha’s experienced, nonpartisan coverage to contextualize U.S. political developments affecting global companies.www.capalphadc.com

ABOUT SMARTKARMA

Smartkarma connects independent investment research analysts to institutional asset managers, such as sovereignwealth funds, hedge funds, pension funds, boutiques and family offices. Smartkarma’s cloud-based platformleverages the latest in technology to provide a network for independent research analysts to curate and shareresearch in an innovative and new way.Currently Asia’s largest provider of independent research with 400 analysts, Smartkarma has written on more than2,400 companies across 15 Asian markets. Publishing daily with active minute by minute discussions discussed inreal-time, Smartkarma’s seen fast growth with more than 150 leading institutional asset managers subscribed.https://www.smartkarma.com

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ERIC is a marketplace for substantive research for regulated institutional investors. At ERIC, investment researchand other ancillary services are offered entirely unbundled from execution services. Buyers can access writtenresearch or buy meeting time with analysts.Sellers can offer their research services before a global audience of institutional investors at prices which theycontrol. The time has come for transparency of prices in investment research. The time has come for ERIC.

For further information, please visit www.eri-c.com

ABOUT ERIC

ABOUT CLEARMACRO

ClearMacro- Next Generation Asset Allocation Software aligning portfolios with systematic investment insight toboost active management skill and portfolio performance.Imagine… A centralised, modular platform powering investment decision making. Integrating systematics, high-performance computing (HPC), AI, Big Data, and flexible, intuitive user interfaces to generate forward-lookingglobal, multi-asset investment insight. Rich visualisations that reconcile noisy data to “one investment view” acrossshort, medium, and long-term investment horizons.A transparent back-tested investment framework curated by experienced investors with the flexibility toaccommodate your views, assumptions, and investment preferences for discretionary overlay. This is theClearENGINE™ Multi-Asset Investment Tool Box.“Everything we do is informed by ClearENGINE, a powerful analytics hub which continually processes vast amounts

of public, 3rd party and proprietary data sets; screening, scoring and transforming them into alpha-generatingsignals, rules-based investment strategies, trade ideas and optimally constructed portfolios”. Mike Simcock, CEOwww.clearmacro.com

ABOUT NED DAVIS RESEARCH

Ned Davis Research Group (NDRG) was founded in 1980, and over its 30-year history has generated strong growthworldwide by providing complete, end-to-end investment strategy research solutions driven by a 360 degreeresearch methodology that combines both fundamental and technical research. Fundamentals tell clients howmarkets should be acting, while technicals reveal how markets are acting.NDRG also offers custom research solutions tailored to a client's specific needs. NDRG's custom research is asignificant competitive differentiator, and it can range from minor tweaks to existing charts to major researchprojects and the virtual outsourcing of a client's entire research efforts.For further information about NDRG, please visit www.ndr.com

ABOUT RED DEER

Red Deer is a financial technology company dedicated to enhancing the performance of active investmentmanagers. Serving a client base of some of the world’s leading hedge funds, asset managers and wealthmanagement firms, Red Deer helps firms see, understand and gain unique insight from their data. Founded onthree key pillars – ‘Miss Nothing that Matters’, ‘Turn Data into Decisions’ and ‘Stay Ahead of Regulation’, Red Deerenables active investment managers to intuitively explore and discover, share and collaborate and make data-driven decisions that drive performance, whilst seamlessly staying on the right side of regulation.For further information about Red Deer, please visit www.reddeer.com

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Mark Artherton, Head of Content Strategy (Europe), Smartkarma InnovationsMark has 18 years experience as a portfolio manager working for hedge funds and large institutional fund managersin the UK and US. He also has 3 years as an independent research provider. Mark is defining and implementing theEuropean content strategy for Smartkarma.

Caroline Bain, Chief Commodities Economist, Capital EconomicsCaroline Bain manages the Capital Economics commodities team and has overall responsibility for the company’scommodities coverage and forecasts. Prior to this, Caroline worked at The Economist Intelligence Unit where she wasa member of the global forecasting team, specialising in commodities. In 2013 she wrote a book, “The EconomistGuide to Commodities”. She previously worked as an emerging market strategist for Merrill Lynch AssetManagement. She holds master’s degrees in economics from Trinity College, Dublin and the University of London.

Glenn Bedwin, Director, Euro IRPGlenn has worked closely with the investment research market for over 30 years in a variety of roles including productmanagement and design, business strategy, commercial management and research procurement. He has worked atDatastream, Thomson Financial and Fidelity International as well as providing consultancy services to a variety ofindependent research firms and hedge funds.

Erik Britton, Managing Director & CEO, Fathom ConsultingPrior to joining Fathom, Erik Britton was a director at a leading economic forecasting consultancy heading up majorconsultancy projects for clients in blue-chip industrial firms, financial services and government in the UK, Europe andUnited States.Previously, he worked at the Bank of England where he spent five years in the Monetary Analysis Division running theBank's UK macroeconomic model, co-ordinating its international forecast, and managing a team of economistsresponsible for analysing corporate sector economics.Erik was educated at Magdalen College, Oxford University, where he studied Politics, Philosophy and Economics,graduating in 1988, and later at Birkbeck College, University of London, where he took an MSc in Economics.

Byron Callan, Director, Capital Alpha PartnersByron Callan is a Managing Director at Capital Alpha Partners, covering aerospace and defense, broader industrials,and trade. He joined Capital Alpha in 2010 after three years on the buy-side, most recently as a Portfolio Manager atLion’s Path Capital. Previously, he was an analyst and co-founder of Perella Weinberg Partners’ Aerospace DefenseSecurity investment fund from 2007-2010. Byron was a Senior Vice President at Prudential Equity Group, LLC fromSeptember 2005-2007, responsible for equity research of the aerospace/defense sector. From 1993-September 2005,he was First Vice President at Merrill Lynch where he also covered the aerospace/defense stocks and was GlobalCoordinator for this sector. He covered electronic warfare and engineering stocks as an equity analyst at PrudentialSecurities from 1984-1993. Byron’s research has been recognized by Institutional Investor magazine, where he wasranked for a total of 15 years. Byron is a member of the Atlantic Council. He was recognized in the 2012 and 2013Defense News listing of the Top Most Influential People U.S. Defense. The 2013 listing observed that "Byron Callan atCapital Alpha Partners remains the leading independent financial analyst covering the sector."

Mike Carrodus, Founder & Chief Executive Officer, Substantive ResearchMike founded Substantive Research in early 2015 to help fund managers find the best investment research for theirprocess. Mike’s time as Global Head of Institutional Sales at NDR, one of the leading independent investment researchproviders gave him unique insight into how fund managers were changing the way they were consuming and payingfor research. Mike oversaw a global team based in Boston, San Francisco, Atlanta and London, covering a client baseof over 1200 hedge funds, asset managers, pension funds and SWFs. Prior to 2011 Mike was Publisher of EuromoneyMagazine. He joined Euromoney in 1997, covering Latin America and Emerging Markets, then becoming publishingdirector for Asia based in Hong Kong before taking over the global brief in 2009. Mike is a frequent speaker and aregular participant on industry panels covering the outlook and consequences of research unbundling and Mifid II.

CONFIRMED SPEAKERS

Diana Choyleva, Chief Economist, Enodo EconomicsDiana Choyleva is Chief Economist at Enodo Economics, an independent macroeconomic forecasting consultancy sheset up in 2016 to untangle complexity, challenge the consensus, and give pointers to the future by making sense oftoday. For 16 years prior she worked at Lombard Street Research, most recently as their Chief Economist and Headof Research. She joined LSR after completing her master’s degree in Economics in 2000 and over the years hascovered a wide range of developing and developed economies. Diana became a director of LSR in 2005 and headedthe firm’s UK Service from then until 2009. Between 2010 and 2013 she was based in Hong Kong overseeing LSR’sexpansion in Asia. She is best known for her analysis of China – one of the most misunderstood economies in theworld, but one of the most important to figure out. She has been covering China for over seventeen years.

Ian Conway, Co-Founder, Value Momentum ResearchIan began his City career in 1987 trading Fixed Income and Gilts. Thereafter Ian became an Equity Analyst focusingon Japan and later Europe at Dillon Read and BNP Paribas. Ian’s focus changed to Global Equities in 1997 with thedevelopment of earnings revisions and trend P/E product. Ian has co-run the team for the last 20 years and isresponsible for both idea generation and communication.

Charles Dumas, Chief Economist, TS LombardCharles Dumas joined LSR in 1998 and has been Chief Economist since 2005. Charles, the firm’s Chairman since 2009,is recognised as one of the world’s leading macroeconomic forecasters. He has written several books on the globaleconomy, including ‘Globalisation Fractures’ (2010), which earned praise from Bank of England Governor MervynKing: “To understand the causes of the financial crisis, read this insightful analysis.” Charles has 40 years’ experienceas an economist and financial markets professional. In the 1980s he was Head of Research for JP Morgan in London.In the 1970s he was Director of European Economics for General Motors. Before that he worked on tax reform forthe Conservative Party and as a journalist on The Economist newspaper. He was a Managing Director in JP Morgan'sNew York M&A department from 1988 to 1992 and had previously worked in its capital markets group in New Yorkand London.

Michael Ellis, Co-Founder, Value Momentum ResearchMichael started in equity markets in 1992 working as a European Equity Dealer and subsequently Equity Analyst atDillon Read where he worked for 5 years. He then spent one year as an Equity Analyst at Schroders before re-joiningIan to co-develop the earnings revisions and trend P/E product. Michael has co-run the team since its inception in1999 and is responsible for creating and maintaining the Value Momentum Research product suite.

Peter Goodburn, Managing Director, WaveTrack InternationalPeter is the founding partner of WaveTrack International, and his trading experience spans back to the late 1970’sworking then in the commodities business for exchange members and their clients. His fascination with price activityand how that related to the news flow within the markets captured his imagination early on. Peter’s first annualdiary of 1978 records his notes and remarks on how the interaction and relationship of fundamental news and pricemovement often contradicted themselves. Some years later, this was to ignite his interest in ‘causal-deterministic’theory and naturally, the Elliott Wave Principle (EWP). He’s a self-proclaimed purist of the Elliott Wave Principle buthas developed a unique approach of geometric Ratio & Proportion that is instrumental in maintaining adispassionate and objective view of the market. He has applied this analysis to every major asset class over theyears, stocks, bonds, currencies & commodities and promotes the importance of interdependency of the combinedgroup. Peter has been a member ofthe U.K.’s Society of Technical Analysts (STA) for over twenty-five years and is aCertified Financial Technician (CFTe) of the International Federation of Technical Analysts (IFTA). He has taught theElliott Wave Principle to students at the London School of Economics as part of the STA’s diploma programme and isa member of the Foundation for the Study of Cycles and the Society for Chaos Theory in Psychology and LifeSciences. He is the editor of WaveTrack’s monthly Elliott Wave Navigator report and its bi-weekly short-termsupplemental updates.

CONFIRMED SPEAKERS

Simon Goodfellow, Managing Partners, Harlyn Research LLPSimon Goodfellow has over 30 years’ experience in financial and investment markets. He founded Harlyn Research in2010. Harlyn Research specialises in probability-based investing and uses its proprietary process to create asset andsub-asset class allocation models, which can be customised to individual. Immediately before Harlyn, he was head ofequity strategy and quant at ING Financial Markets from 2002 onwards. Simon’s previous firms include ING Barings,Baring Securities, CSFB and Wood Mackenzie. Previous roles include: head of research (BHF Bank in Frankfurt, whenpart of the ING Group); global head of sector (construction and building materials) and a number one-rated UK smallcap analyst (Extel 1990). Simon graduated from Jesus College, Cambridge in 1980 and qualified as a charteredaccountant before going into equity research.

Christopher Granville, Managing Director, EMEA & Global Political Research, TS LombardChristopher is a co-founder of Trusted Sources. He is a highly experienced commentator on Russian political andeconomic affairs and leads our Russia/FSU team, concentrating on macro policy, governance and institutions,infrastructure, consumer product markets (especially food-related, from upstream production to retail), the energy andfinancial services sectors. Previously, Christopher spent six years as chief strategist and political analyst at UnitedFinancial Group (UFG), a Moscow-based investment bank now owned by Deutsche Bank. In several surveys of fundmanagers conducted during this period by Institutional Investor and Thomson Extel, he was ranked No. 1 EMEAStrategist and/or Analyst on Russia. Christopher joined UFG from Fleming-UCB, where since 1995 he had held theposition of managing director and head of research. Prior to that, he was a UK diplomat, and served for four years inthe Political Section of the British Embassy in Moscow. Christopher has a Master’s degree in modern history andmodern languages from Oxford University and was a fellow of All Souls College, Oxford. He contributed a long essay onthe political and societal background to economic reform in Russia in Granville & Oppenheimer (eds), Russia’s Post-Communist Economy (Oxford University Press, 2001).

Andy Hartwill, Research Director, Roubini Global Economics (RGE)He has responsibility for ensuring research is relevant and responsive to client needs including a remit for clarity,brevity and timeliness. He believes any research house has to earn the right to partner with its clients who are beingasked to entrust a part at least of their investment process with us as research providers.RGE provides a unique combination of macro forecasting, policy insights, systematic country risk scoring and integratedthematic scenario analysis to hundreds of clients around the world. It operates from principal offices in New York andLondon.Prior to joining RGE, Andy had his own consultancy specialising in the independent research sector. He has helped IRPsstreamline their research offering to an increasingly crowded market place.Andy started his financial markets career some decades ago as a research analyst specialising in the tech sector. Hewent on to hold positions including Head of Research, Head of UK Equities, UK/ European and finally Global Strategist ata range of buy-side and sell-side institutions

Tim Hayes, Chief Global Strategist, Ned Davis ResearchTimothy W. Hayes, CMT, is NDRG’s Chief Global Investment Strategist. He has been with the firm since 1986. Timdirects NDRG’s global asset allocation services, develops strategy and major investment themes, and establishesNDRG’s weightings for global asset allocation, presenting his views on the cyclical and secular outlook globally. Timoversees NDRG’s Monthly Digest, covering global strategy and allocation, and his timely market commentaries andstudies are featured in Global Strategy publications, which focus on global allocation and the most significant globaldevelopments. Tim has been featured many times on CNBC and Bloomberg TV, and his market views are often quotedin The Wall Street Journal and other financial media in the U.S. and internationally. He is author of The Research-Driven Investor, published in November 2000, and he has contributed to several other books. His research articles haveappeared in the Journal of Technical Analysis, Technical Analysis of Stocks and Commodities, and other publications.Tim received his Bachelor of Arts degree from Kenyon College, and he is a Chartered Market Technician. In 2008, theInvestorside Research Association honored Tim with its Research Excellence Award for “Exiting Equities in ‘07.” In1996, the Market Technicians Association awarded Tim the Charles H. Dow Award for groundbreaking research,recognizing an outstanding original work that best expounds on the principles of technical analysis.

CONFIRMED SPEAKERS

CONFIRMED SPEAKERS

Michael Howell, Managing Director, Crossborder CapitalMr. Michael J. Howell is a Managing Director at Crossborder Capital. He founded CrossBorder Capital in 1996.Previously Mr. Howell was Head of Research for Baring Securities and Research Director of Salomon Brothers, theUS investment bank. He has been in financial markets since 1981 and is a regular conference speaker and mediacommentator. Mr. Howell graduated from Bristol and London Universities, and lives in Oxford with his family.

Steve Jarrett, CEO, WorldflowCo-founded worldflow in 2002, as a consultancy and software business aimed at the Financial Services industry,having worked in Salomon Brothers, NWM and ING in Technology Management and Business Management roles.- Connect is worldflow’s full service content management and distribution platform used in a growing number ofResearch Providers, Fund Management, Managed Accounts, News Services and a number of Consumer facingapplications.- Digital Vega is our FX Options Exchange currently with a B2C focus for the FX Options and Precious Metals marketsaimed at liquidity providers and major buy-side organisations.- tradingFlow contains our software offerings for Trade Reconciliation and Reporting, Structured Products Issuance,CSA / RPA Tracking.- Our Consultancy practice is front-office facing providing solutions for eCommerce platforms, eFX / FI, tradingplatforms, risk management, research production and distribution, funds trading, structured products issuance andincreasingly MFID II.

Dan Joldzic, CFA, FRM, CEO, Alexandria TechnologyDan Joldzic, CFA, FRM is CEO of Alexandria Technology, Inc, which develops artificial intelligence to analyze financialnews. Prior to joining Alexandria, Dan served dual roles as an equity portfolio manager and quantitative researchanalyst at Alliance Bernstein where he performed factor research to enhance the performance of equity portfolios.

Anatole Kaletsky, Founding Partner & Chief Economist, Gavekal ResearchAnatole Kaletsky is founder and co-chairman of Gavekal, and a principal contributor to the research service. He isalso a columnist for Reuters and the International Herald Tribune and chairman of the Institute for New EconomicThinking, a US$150mn foundation created to reform academic economics after the 2008 crisis. His recent bookCapitalism 4.0, on the post-crisis transformation of the global economy, was nominated for the 2011 SamuelJohnson Prize. Before founding Gavekal he worked for 30 years as an economic journalist and commentator on theFinancial Times, The Economist and the London Times.

Daisy McAndrew, Freelance Radio and TV Presenter, Reporter and WriterDaisy is a freelance radio and TV presenter, reporter and writer. She is a very accomplished and experiencedcorporate facilitator and host, having compered countless awards and conferences for a wide variety of clients –including many large multinationals, banks, trade bodies and charities.She regularly presents shows on TalkRadio, London Live and has recently been presenting Radio 4’s The WorldTonight. She can be seen commenting on politics for the BBC and ITV most weeks as well as reviewing the papersfor BBC News and Sky News. She presented her own daily election show for London Live TV in 2016.She left ITV News to go freelance in early 2013 after a very successful seven years during which time she was theirmost senior female reporter, having been Chief Political Correspondent, Economics Editor and SpecialCorrespondent. As Economics Editor she reported on the credit crunch and recession from all over the world. Aswell as reporting for ITV News she also presented their Lunchtime and Weekend News and ITV's Moral of the Story.Before joining ITV she presented (as Daisy Sampson) the BBC's Daily Politics and was BBC Breakfast News' PoliticalCorrespondent. Daisy was the host of the O2 Business Show on LBC 97.3 in 2013 which was a weekly discussion withleading British business experts. She has also presented her own drive time show on LBC Radio and has presentedChannel 4's Powerhouse, the BBC's Heaven and Earth Show and BBC Weekend News.Daisy has appeared on Have I Got News for You?, The Wright Stuff, Loose Women and Despatch Box as well as manyRadio5 Live programmes. She is a familiar face on ITV’s This Morning and Good Morning Britain.Before moving into broadcasting in 2001 she spent a decade working in Westminster, starting off as a 19-year-oldMP's researcher before writing for many newspapers from the Press Gallery, profiling MPs in The House Magazine -which she ultimately edited - as well as working for Lib Dem Leader Charles Kennedy as his Press Secretary.

CONFIRMED SPEAKERS

Ian MacFarlane, Head of Research, ClearMacroIan has over 35 years of experience in the financial services industry on both the sell and buy-sides and has lived andworked in four continents. His experience covers the active management of all asset classes, as well as research.This background helps him view financial markets from the perspective of the client and the relentless focus onwhat is relevant to maximizing returns. For the past thirteen years, his career has focused on independent researchworking for Medley Global Advisers Inc. a macro political advisor and a decade at BCA Research Inc. an independentmacro research provider.

Tom Miller, Senior Asia Analyst, Gavekal ResearchTom writes mainly about China and India, focusing on economic development and geopolitics, and is managingeditor of the China Economic Quarterly. A former journalist, he has reported from a dozen countries in Asia andgiven talks at the Center for Strategic and International Studies, Chatham House and the World Bank. He has beenquoted by the Financial Times, Economist, New York Times, Washington Post, Wall Street Journal, Reuters andBloomberg, and appeared on the BBC, CNN and CNBC. From time to time, he reviews books for The Spectator.

Tim Parker, Chief Executive, MesselsTim Parker graduated from Cambridge University in 1981. After 3 years in the British Army he began a stockbrokingcareer with L. Messel & Co. After some time at Credit Suisse and 14 years as a founding director at Stockcube plc(the first ever independent research firn to be listed on the LSE), he founded Messels in 2004.

Peter Perkins, Partner and Global Strategist, MRB (Macro Research Board)Peter Perkins is a founding partner. He has extensive experience, both as a strategist and economist. Mr. Perkinsfocuses on asset allocation issues and strategy, key drivers of the global economy and capital markets, as well asinvestment opportunities and risks. He works closely with MRB clients on tactical and strategic asset allocation,assisting them in interpreting and translating macroeconomic and policy factors into a tailored investment strategy.Mr. Perkins speaks widely at conferences, seminars and client meetings and regularly participates in investmentcommittee meetings for select investment management firms.Over his career, Mr. Perkins has covered all major asset classes and regions, and worked in the U.S., Hong Kong,Mexico, and Canada, before recently relocating to the U.K. Prior to forming MRB, he was Managing Editor at BCAResearch Inc., focusing on tactical asset allocation and supporting major clients.Mr. Perkins has a Master of Economics from Pennsylvania State University and B.A in Economics from the Universityof Maryland.

Ekaterina Radkovskaya, Equity Analyst & Sales, Value Momentum ResearchKat started in the City in 2011 via Merger Arbitrage placement at BTIG whilst reading Economics at LSE. ThereafterKat worked for 5 years at Deutsche Bank, initially for the Markets Executive Committee through the Strategy Team,followed by Equity Derivatives Sales role focused on institutional clients. Kat joined Value Momentum Team in 2017and is responsible for idea generation and business strategy.

Gaurav Saroliya, Director of Global Macro Strategy, Oxford EconomicsGaurav has 15 years of professional experience spanning academic research, active portfolio management andmulti-asset investment strategy. As a quantitative investment researcher at State Street Global Advisors heperformed fundamental fair-valuation research for fixed income and foreign exchange. At UBP asset management,he was involved with mutli-asset active portfolio management during the depths of the 2007-08 global financialcrisis and beyond. He has also got experience of proprietary trading in FX and liquid rates markets at Lloyds, inaddition to emerging markets fixed-income / FX research at Commerzbank and UniCredit.Gaurav holds a PhD in macro and financial economics from University of York and has performed academic researchon emerging markets prior to entering the financial industry.

CONFIRMED SPEAKERS

Evan A. Schnidman, Ph.D., Founder and CEO, PrattleBefore starting Prattle, Evan taught at Brown University and Harvard University. Co-author of How the Fed MovesMarkets, Evan is also widely published in macroeconomics, political economy, and finance publications. Along withbeing a respected academic, author, and researcher, Evan is also an experienced consultant for large corporationsand financial institutions.

Mike Simcock, CEO, CIO, ClearMacroMike has been involved in active institutional portfolio management since the early 1990s, managing global multi-asset portfolios.He spent the last 10 years as a Managing Director at GIC Private Ltd (formerly known as Government of SingaporeInvestment Corporation), one of the largest Sovereign Wealth Funds. He held a variety of positions which includedHead of Fixed Income (Europe), Head of Macro Research and Strategy, and Global Head of Credit. Prior to GIC, Mikewas a Senior International Portfolio Manager at T. Rowe Price and Swissca Group, both based in London. Deliveringabove-benchmark performance over a 20 year period, his funds have been Micropal award recipients.Mike earned an MA (Hons) in Modern History from New College, Oxford University and an LRSM from the RoyalSchools of Music in Music Performance. He is also a CFA charter holder and an STA diploma holder.Gabriel Stein, Managing Director of developed-markets, 4CAST-RGE'sGabriel Stein runs 4CAST-RGE's developed-market research team. He previously served as Director of AssetManagement Services at Oxford Economics. Prior to that, he was Chief Economic Advisor to OMFIF, the OfficialMonetary and Financial Institutions Forum, and Managing Director of Stein Brothers (UK), his own economicconsultancy. Before joining OMFIF, he helped set up Lombard Street Research’s international economics team, asChief International Economist. Gabriel is a graduate of the Stockholm School of Economics. He also has a Master’sdegree in Military History (Distinction) from the University of Buckingham.

Dan Smith, Director of Commodity Services, Oxford Economics Dan has worked for over 20 years as a commodities analyst in the consultancy and banking sectors. He waspreviously Head of Metals Research at Standard Chartered and has worked at CRU, Brook Hunt (a Wood Mackenziecompany) and Purvin & Gertz (an IHS company). Through 2008 to 2014 he was one of the most accurate forecastersof base and precious metals, according to Bloomberg. He is regularly invited to present at commodity events aroundthe world and has led training programs for the CFA society and futures exchanges on commodity market analysisand forecasting.

Rob Smith, Director, Capital Alpha PartnersRob Smith is a Director at Capital Alpha Partners, where he covers U.S. healthcare policy with Capital Alpha's co-founder Kim Monk. The team offers a deep understanding of the reimbursement, regulatory, and political processfor healthcare policy. Areas of focus include health services, pharmaceuticals, biotechnology, medical technology,managed care, health information technology, labs and diagnostics. Mr. Smith also monitors regulatorydevelopments facing tobacco, food, and beverages. He brings nearly twenty years of Washington experience to hispractice. Prior to joining the firm in 2008, Mr. Smith was a lobbyist for Ceridian Corporation, where he managed thecompany's Capitol Hill presence on health care and tax issues. Before that, he served for five years as the top healthcare aide for Rep. Rick Boucher, a senior member of the House Energy and Commerce and Judiciary Committees.

Maarten Spek, Senior Analyst Financial Markets, ECR ResearchMaarten Spek joined ECR Research in 2006 after working for Companhia Vontobel de Investimentos and is theauthor of several currency and interest rates reports ECR publishes on a weekly basis. Over the last four years, hehas initiated, expanded and contributed to ECR’s Asset Allocation services. He currently advices pension funds andasset managers on macro-economic developments and their impact on financial markets. Maarten has graduated inInternational Economics from Erasmus University Rotterdam.

CONFIRMED SPEAKERS

Chris Turnbull, Co-founder, ERICChris Turnbull co-founded ERIC as the culmination of a 20 year career in capital markets. Following an 11 year careeras a buy side trader with Ivory and Sime and Standard Life Investments he left his role as an Investment Director atSLI to broaden his knowledge and entrepreneurial experience. Stints at Instinet taking a leading role in theestablishment of an outsourced trading desk, Instinet Alpha and ICAP in the establishment of the BlockCross MTFfollowed. Latterly Chris has been consulting in the area of regulation in the unbundling of research and execution,which led to the establishment of ERIC.

Paul Wildman, Co-Founder, Value Momentum ResearchPaul started in the City on the buy side at Jupiter Asset Management in 1999. Subsequently, Paul joined the ValueMomentum Research team in 2001 to co-run, develop and expand the earnings revisions and Trend P/E offering.Paul is responsible for both idea generation and communication.

Adam Wolfe, Asia Strategist, MRB (Macro Research Board)Mr. Wolfe has over six years experience in macroeconomic and investment research. Prior to joining MRB, he wasDirector of Emerging Asia for Roubini Global Economics where his responsibilities included producing macroforecasts for the region and the asset class implications of these calls. In addition, he contributed to the firm’s globaleconomic outlook and communicated these views to clients. The Oxford Companion to the Economics of Chinaincludes a chapter drafted by Mr. Wolfe and Dr. Nouriel Roubini on China’s financial sector.Mr. Wolfe has a Masters of Arts in Politics from New York University and a Bachelor of Arts in Communications fromthe University of Wisconsin-Madison.

NOTES

NOTES

Deadline for the early bird

discount January 30, 2015

Sponsorship/Exhibition spaces for 2016 conferenceSponsorship, exhibition spaces and speakers opportunities are available for the 2016 conference

so please contact us if you would like to associate your firm with this conference.Email: [email protected]

Tel: +44(0)7531893652

Sponsorship/Exhibition spaces for 2019 conferenceSponsorship, exhibition spaces and speakers opportunities are available for the 2019 conference

so please contact us if you would like to associate your firm with this conference.Email: [email protected]

Tel: +44(0)7531893652