General Investing >> Money Manager Interviews >> September 24, 2001

Max Zavanelli – Zpr Investment Management

MAX ZAVANELLI founded Zavanelli Portfolio Research in 1979. Due to the success of his research for professional money managers, there was a demand for ZPR to manage discretionary accounts. In 1982, Mr. Zavanelli started managing discretionary accounts directly. In 1993, Zavanelli Portfolio Research became three corporations and different legal entities. ZPR Investment Management became the successor company, which maintains the original SEC registration. ZPR Investment Management currently has $97 million under management. In addition, approximately $18 billion is being managed by other firms using research from ZPR Investment Research. Prior to founding ZPR, Mr. Zavanelli was an Investment Strategist at American National Bank in Chicago and a Senior Financial Analyst at Mellon Bank. From 1990-1994, he held the position of Distinguished George Professor, Chair of Applied Investments and Research at Stetson University in DeLand, Florida. Mr. Zavanelli has a distinguished military record. He was a commander of a nuclear weapons battery in the U.S. Army ' having advanced from the rank of private. Mr. Zavanelli has received considerable recognition as a chess master and correspondence chess administrator. In over the board events, he has won two state championships, tied for first place in the 1977 New York City Masters Championship and won dozens of smaller tournaments. He is responsible for all United States correspondence chess teams, including the Olympic team. He serves as United States Ambassador to all other countries. In 1993, Mr. Zavanelli was awarded the lifetime title of International Arbiter. Profile
TWST: Small cap value investing is much more favorable today than it was

in 1998 when we last spoke to you. Tell us about ZPR Investment

Management and your small cap fund.

Mr. Zavanelli: Of