Industry & Services >> Analyst Interviews >> April 20, 2009

Investing In Water Utilities – Timothy M. Winter – Jesup & Lamont Securities Corporation

Timothy M. Winter, a Senior Vice President at Jesup & Lamont Securities Corporation, is a Chartered Financial Analyst, and has over 15 years' experience as an equity research analyst. From 1992-2007, he served as a Vice President and Senior Research Analyst in the Utility Group at A.G. Edwards where he specialized in the water and electric utility industries. He has received industry recognition as a three time Wall Street Journal All-Star and as a senior member of the Institutional Investor number one ranked Electric Utility Team at AG Edwards for the years 2001, 2002, 2003, 2004 and 2005. Prior to joining the JLI team, he was a co-founding partner of SM Research & Perspective, an institutionally focused research boutique. In addition, he has been frequently quoted in The Wall Street Journal, Barron's, The New York Times, BusinessWeek, CNBC, among others. He received his MBA degree with a concentration in Finance from Notre Dame in 1992 and his BA degree in Economics from Rollins College in 1991. Profile
TWST: How has business been in the water utilities space through this economic

downturn? I would guess it's not very sensitive.

Mr. Winter: The water utility group is among the least