Natural Resources >> Analyst Interviews >> February 18, 2002

Metals & Mining Stocks: Daniel Roling – Merrill Lynch

DANIEL A. ROLING is a First Vice President and Senior Industry Specialist covering the metals, mining, and steel industry for Merrill Lynch. Since joining the department in 1981, he has become Merrill Lynch's foremost expert on coal and nonferrous metals and mining. Prior to joining Merrill Lynch, Mr. Roling had been with Waddell & Reed, Inc., for two years where he covered steel, nonferrous metals and mining, coal, and machinery stocks. He is ranked third on Institutional Investor's All-American Research Team, and has been a member 18 times. He is also highly ranked in the Greenwich Associates' poll and the Brendan Wood International (Canadian) survey. Mr. Roling is a Certified Public Accountant (CPA) and Chartered Financial Analyst (CFA). He is a member of the Institute of Certified Public Accountants, Association for Investment Management and Research, New York Society of Security Analysts, and Nonferrous Metals Analysts of New York. Mr. Roling serves as a member of the National Coal Council (NCC). He was appointed to and currently serves on the Advisory Board of the College of Business Administration at the University of Iowa, his alma mater. Mr. Roling earned a BBA in Accounting from the University of Iowa and an MBA from the University of Kansas. Profile
TWST: Let's begin with the outlook for the fundamentals underpinning the

metals and mining stocks. Why is this a sector that investors should

overweight in 2002?

Mr. Roling: The easiest and