Financial Services >> Sector Roundtables >> January 19, 2009


Thomas S. Mitchell, Financial Stock Research Analyst at Miller Tabak + Co., LLC, started in the industry working as a Research Analyst with NYSE firm Mabon, Nugent & Co. in 1973, covering consumer and commercial finance companies, credit card companies, and large multi-industry companies encompassing major insurance and financial subsidiaries. He also managed a firm account investing in distressed situations, reorganizations and bankruptcies. In 1983, he joined the New York investment management firm of Weiss, Peck & Greer as one of five portfolio analysts, with primary coverage responsibility for the financial stock sector. As a general partner of WPG from 1984 to 1990, he also initiated programs for WPG to invest in foreign stocks and to use index futures and options for bona fide portfolio hedging. In 1990, he branched out to set up an independent money-management shop. He joined Miller Tabak in July 2006 with primary coverage responsibility for banks, REITs and other financial stocks. A respect for credit analysis and for observation of broad industry trends has informed his investing approach throughout the past 33 years. Profile
Dave Rodgers, CFA, is a Member of the U.S. REIT research team at RBC Capital Markets, which provides coverage of more than 70 U.S.-based equity REITs. His sector research is focused on office and industrial real estate that also consists of specialty, or niche, businesses including data centers and lab space. He has been in his current position since 2006 and possesses more than a decade of experience in real estate equity research. Before joining RBC, Mr. Rodgers worked at KeyBanc Capital Markets, where he covered multifamily REITs. He previously has been recognized by Institutional Investor magazine as a Home-Run Hitter. Profile
TWST: Tom, as we look back at 2008, how would you characterize what went on in

the REIT space from a business perspective?

Mr. Mitchell: From a business perspective I think the biggest change