Douglas R. Cannon is the President and Chief Investment Officer of Texas First Investment Management Company. He has been the portfolio manager for Texas First’s Select Value, U.S. Mid Cap Value, and Small Cap Opportunity portfolios since their start in 2000. Money Manager Review, Morningstar, Barron’s and Pensions and Investment Magazine have ranked the Texas First portfolios among the top value equity performers in the country over the past ten years. The Wall Street Journal, Reuter Worldwide News Service, and other publications frequently quote Mr. Cannon’s analysis of small cap investing news and trends. From 2002 to 2004, he was appointed by the Governor of Texas to serve as the Chairman of the Investment Advisory Committee of the $19 billion Texas Permanent School Fund. From 1989 to 1991, he was Deputy Executive Director of the Pension Benefit Guaranty Corporation. He has 24 years of investment experience as a portfolio manager and analyst. Mr. Cannon holds an MBA degree from Harvard Business School and a BS/BBA degree from the Wharton School of Business. He is a Chartered Financial Analyst.