Financial Services >> Sector Roundtables >> November 5, 2001
TODD A. PITSINGER is a Managing Director and Research Analyst with the
Financial Institutions Research Group at Friedman, Billings, Ramsey &
Company, Inc. He currently covers a collection of specialty finance and
retailing companies. He has been with FBR since 1993, and is responsible
for conducting the financial analysis and credit risk assessment of
consumer and commercial finance companies. Mr. Pitsinger has also worked
as an Analyst in the High Yield, Commercial Banking, and Thrift Research
Groups at FBR. Mr. Pitsinger received both his BBA in International
Business and MBA in Finance from the George Washington University in
Washington, DC. Profile
JOEL J. HOUCK, Vice President, joined A.G. Edwards & Sons, Inc. in 1997.
His previous work experience includes six years in the commercial
banking industry, three years at PNC Bank, and three years at Boatman's
Bancshares in various commercial lending and credit capacities. He
ranked Number One in The Wall Street Journal Best on the Street Survey
in 2001 for stock picking and placed in the top five in 2000 and 2001
for earnings estimate accuracy. He currently follows specialty finance
companies and related industries (consumer finance, commercial finance,
credit cards, and mortgage). A Chartered Financial Analyst, Mr. Houck
received an MBA from Miami University. In his spare time, Mr. Houck
likes to spend time with his wife and four children. Occasionally he
golfs, but his handicap remains undisclosed. Profile
E. REILLY TIERNEY is a Senior Vice President of Equity Research at Fox-
Pitt, Kelton Inc. Mr. Tierney's research coverage includes investment
banks and brokers and specialty finance companies (primarily credit
card, consumer and commercial finance companies). Prior to joining the
FPK in 1997, Mr. Tierney spent three years as a corporate ratings
analyst at Duff & Phelps Credit Rating Co. At Duff & Phelps, Mr.
Tierney's responsibilities included corporate ratings of consumer,
commercial and other specialty finance companies. Additionally, he
assisted in the evaluation of the issuers of asset-backed securities.
Prior to Duff & Phelps, Mr. Tierney worked for five years as a
commercial banker, specializing in high yield credits. Mr. Tierney holds
a Bachelor of Arts degree in history from Northwestern University and a
Master of Business Administration degree from the Darden Graduate School
of Management at the University of Virginia. He is a Chartered Financial
Analyst. Profile
BRADLEY G. BALL joined Prudential Financial Inc.'s Equity Research
Department in November 2000, and is a Senior Vice President covering the
Specialty Finance and Mortgage Finance sectors. Previously, Mr. Ball was
a Director at Credit Suisse First Boston and a Senior Bank Examiner at
the Federal Reserve Bank of New York. On three occasions during his
tenure at the Fed, Mr. Ball was awarded the Federal Reserve Bank of New
York's Presidential Award for Excellence. His research has been
recognized in several polls, including Institutional Investor Magazine's
All Star Analyst poll in 2000 ('Best Up-And-Comer' for Specialty
Finance) and in 1998 ('Best Up-And-Comer' for Money Center Banks),
Reuters Annual Analyst Poll (1998-2000), and The Wall Street Journal All
Star Analyst Survey for stock picking (1998). Mr. Ball earned an MBA in
Finance from New York University and a BA in History and Environmental
Studies from Williams College. He is currently a member of the Board of
the Bank and Financial Analyst Association and a member of the New York
Society of Securities Analysts. Profile
specialty finance industry over the last year or so?
Mr. Ball: We have had a relatively defensive posture vis--vis
