General Investing >> Money Manager Interviews >> February 20, 2012
Understanding Large-Cap Stocks Beyond GAAP Valuation – Rafael Resendes – Toreador Research and Trading
Rafael Resendes is a Managing Member of The Applied Finance Group International, Co-Founder of The Applied Finance Group, and a Founding Managing Director of Toreador Research and Trading. Founded in 1995, The Applied Finance Group — AFG — specializes in understanding the expectations embedded in global stock markets and constructing portfolios with that information to outperform specific benchmarks. Founded in 2006, Toreador Research and Trading applies AFG’s research through its family of mutual funds. Mr. Resendes is the Portfolio Manager of Toreador’s mutual fund strategies: Toreador Core (MUTF:TORZX), Toreador Explorer (MUTF:TMRZX) and Toreador International (MUTF:TMRIX). Mr. Resendes graduated Phi Beta Kappa from the University of California at Berkeley with a B.S. in finance and economic analysis, and obtained his MBA from the University of Chicago. Mr. Resendes is a frequent contributor to leading financial publications and investment programs, such as The Wall Street Journal, Forbes and CNBC Squawk Box, among others. Mr. Resendes has lectured on valuation and portfolio construction around the world as part of the CFA Institute’s Speaker Retainer Program, visiting over 35 societies across 15 countries. Profile
TWST: Please tell us the history of Toreador Research and Trading.
Mr. Resendes: In many ways, Toreador was a demand-driven product. Dan Obrycki and I started a firm called The Applied Finance Group