Events & Webinars

CFRA hosts global events and webinars that bring together our
experienced research leaders and industry experts to deliver ideas,
case studies, and discussions around forensic and fundamental
equity, ETF and mutual fund strategies and methodologies.

CFRA Events and Webinars

Register for one of our upcoming sessions, or view the replay from one of our recent sessions.

08
Oct
October 08, 2019
Stocks in the S&P MidCap 400® Index have generated strong risk-adjusted returns historically, compared to large- and small-caps. They offer a strong combination of growth and stability traits that should garner significant interest. Yet, this sweet spot of the US equity market is largely ignored by fund investors. On October 8 at 11:00 am ET we will explore this topic further. Join Todd Rosenbluth, CFRA Head of ETF & Mutual Fund Research, and Matt Bartolini, Head of SPDR Americas Research, for a discussion on mid-cap index strategies. Highlights of the discussion: How mid...
02
Oct
October 02, 2019
Please join CFRA for a live webinar on October 2, where we will provide attendees with the exclusive opportunity to learn more about technology platforms and legal risks and take a closer look at technology platform stocks and regulatory risks. The discussion will include key insights on legal risks associated with: Apple Facebook Alphabet Amazon Examples of strategies you can use to model risks legal risks for the four dominant technology platforms. Additionally panelists will discuss the benefits as well as the risks of buying, holding, and selling these blue chip stoc...
24
Sep
September 24, 2019
Investors, recognizing the benefits of the ETF vehicle for fixed income, continue to pour record amounts into bond ETFs while the active vs. passive debate is heating back up. There are many reasons why actively managed bonds can potentially outperform passive – yet the flows are overwhelmingly going to passive fixed income ETFs. Are these allocations to passive intentional or inadvertent? Do investors realize how bonds are different than equities when it comes to indexing? Todd Rosenbluth, CFRA Head of ETF & Mutual Fund Research and David Braun, Managing Director and Portfolio Manage...
05
Sep
September 05, 2019
Please join CFRA for a live webinar on September 5, where we will provide attendees with the exclusive opportunity to learn more about CFRA’s research methodologies regarding non-GAAP metrics.   Led by Emily Grant Turner, CFRA senior analyst, we will discuss non-GAAP metrics: CFRA's view of common non-GAAP adjustments Restructuring charges Stock-based compensation expense Pension adjustments Purchase accounting Adjustments to EBITDA Examples of how companies can distort their financial results through manipulation of discretionary metrics salesfo...
13
Aug
August 13, 2019
Cyclical sectors such as information technology and consumer discretionary drove equity markets to record levels in the first half of 2019, but, historically in the third quarter defensive sectors such as consumer staples and utilities have performed better amid market volatility. As second quarter earnings season wraps up, advisors will have greater clarity on whether cyclicals will remain the leaders heading into 2020 or whether a defensive posture may be warranted. During CFRA’s webinar on August 13, we will explore this topic further. Join Lindsey Bell, CFRA Investment Strategist, Tod...
23
Jul
July 23, 2019
The third quarter is historically the weakest of the year, and 2019 is looking to be no exception, especially after the explosive start that we had earlier in the year. The current economy and bull market are now the longest in history. Wall Street analysts have been crying wolf, calling for a 3% drop in Q1 EPS only to see them rise by 2.5%. This quarter’s results are seen falling nearly 2%. But with elevated geopolitical tensions, ongoing trade disputes, and global economic growth worries, is a potential EPS recession in store? Or, might the Fed disappoint investors by NOT cutting rates at ...
20
Jun
June 20, 2019
Canada is a resource-rich nation, but high exposure to those natural resources brings volatility, due to a combination of trade risks, commodity price fluctuation, the environmental movement, and regulatory developments. Is it a good time to rotate into, or out of, cyclical sectors in the TSX? How do we see prospects for key commodities such as gold, copper, crude oil and natural gas, as well as for the companies that play in those areas? And how do these companies north of the border stack up against their American counterparts? Please join CFRA for a complimentary webinar, where we will ...
12
Jun
June 12, 2019
Advisors are increasingly seeing the appeal of ETFs that offer exposure to stocks based on Environmental, Social and/or Governance (ESG) criteria. While many investors have interest in incorporating ESG factors into their investment strategy, the collective ETF assets remains small. CFRA thinks this is partially the result of many not understanding what they are and what’ really inside their fund. During CFRA's webinar on June 12, we will explore this topic further. Todd Rosenbluth, CFRA Head of ETF & Mutual Fund Research and Arne Noack, Head of U.S. Product Development at DWS will di...
30
May
May 30, 2019
CFRA Earnings Scores have predictive value that can be used to mitigate risks related to class action lawsuits. A detailed study finds that CFRA Earnings Scores on average trend higher and ultimately peak fifteen months prior to the class action filing date. This continues to support our view that analyzing the accrual component of earnings, the basis for CFRA Earnings Scores, is critical. The accrual component of a company’s earnings represents the more discretionary, non-cash component of a company's earnings, which tends to be less reliable and less persistent than earnings supported by c...
22
May
May 22, 2019
Rising drug prices have been on voters’ and legislators’ minds recently, as it appears that it’s becoming increasingly difficult for many Americans to afford their medications. CFRA believes that drug prices may not be a primary driver of mounting health care costs in the US; however, we suspect that legislators are aware of that. Please join CFRA for a complimentary webinar in which we cover competitive factors impacting drug pricing, highlight trends in the biopharmaceutical industry, and discuss potential legislation that could come out of Washington D.C. related to the drug indust...
14
May
May 14, 2019
Investors tend to think of ETFs as only products that track an index, but CFRA has seen supply and demand for actively managed ETFs where security selection is at management’s discretion. More asset managers are leveraging their fundamental investment strategies previously available only in a mutual fund and launching transparently run, tax-efficient ETFs. CFRA invites you a complimentary webinar on May 14, during which we’ll explore this topic further. You will hear from Todd Rosenbluth, CFRA Head of ETF & Mutual Fund Research and Dodd Kittsley, Davis Funds National Director as the...
30
Apr
April 30, 2019
The Permian Basin in West Texas and Eastern New Mexico has been a relentless source of incremental supply, and despite recent problems with congestion, incremental volume growth still seems ample. While CFRA thinks the Permian will eventually yield to the law-of-large-numbers problem that typically besets engines of high growth, we do not think 2019 is the year when the Permian caves in and declines from legacy wells overtake additions from new wells. Please join CFRA for a complimentary webinar where we highlight emerging trends in the Energy sector, with a focus on Oil & Gas Explorati...
09
Apr
April 09, 2019
The consensus view is forecasting for Q1 earnings to be down. Wall Street expects a near 2% decline in Q1 S&P 500 earnings. Many believe this is the first step to an earnings recession. We at CFRA, however, believe it will simply be a short-term stumble along the way. CFRA’s view is that the economy will sidestep recession, and we therefore search for unanticipated opportunities. CFRA invites you to a complimentary webinar on April 9th, during which we’ll explore this topic further. You will hear from Sam Stovall, CFRA’s Chief Investment Strategist, Lindsey Bell, CFRA Investment ...
26
Mar
March 26, 2019
Please join CFRA for a webinar on March 26, where we will discuss Financial Shenanigans and how to identify discrepancies between reported financial results and a company or industry's underlying economic reality. It is no secret that public company management teams use complicated accounting tricks to hide operational deterioration in their underlying business. Using company examples, we point out how revenues, margins, and non-GAAP metrics can be flattered through aggressive accounting or other manipulative techniques. During this session, participants will learn how to identify the...
14
Mar
March 14, 2019
Please join CFRA for a complimentary webinar on March 14, where our leading equity analysts will discuss Amazon and its disruption of the retail and logistics areas. During this session, participants will learn: CFRA's views on Amazon, with a focus on retail and logistics - areas where the company has demonstrated market leadership CFRA's analysis of certain categories and companies within the retail segment and their positioning given Amazon's broad dominance, including the companies that are the most and least vulnerable, and why Basics about the business of logistics, why A...
05
Mar
March 05, 2019
CFRA kicked off the recent Inside ETF conference highlighting key do’s and dont's when choosing and purchasing an ETF. In this expanded presentation, Todd Rosenbluth, our Director of ETF and Mutual Fund Research will review CFRA’s unique holdings-focused ratings approach and highlight several case studies where the lower-priced or larger ETF performed quite differently from similar sounding peers. During this session you will also hear from CFRA’s leading equity analysts who will discuss the fundamentals of the sectors and industries behind some of these funds, including technology a...
28
Feb
February 28, 2019
CFRA invites you to a discussion of QUALCOMM Inc. (QCOM) and Legal Edge, hosted by the head of CFRA Legal Edge, Nick Rodelli. CFRA has a strong track record of actionable calls on QUALCOMM at major inflection points over the past 12 years (80% hit rate, 28.8% average alpha), and has closely followed the FTC v. QUALCOMM trial, the Apple v. QUALCOMM San Diego federal court case, and related litigation. During this session, Nick Rodelli and the CFRA team will discuss: Our views on the FTC v. QUALCOMM case, including an assessment of the FTC’s evidence, QUALCOMM’s defenses, our...
19
Feb
February 19, 2019
During this webinar, CFRA reviewed our stock and model portfolio performance for 2018 and methodology enhancements to continually improve performance. CFRA’s proprietary STARS® (STock Appreciation Ranking System) methodology provides a highly refined, rigorous and globally-consistent process to help investors make informed investment decisions. During this session, CFRA’s Global Director of Research & Analytics Zach Gast, CFRA Strategist Lindsey Bell, and CFRA's Chief Investment Strategist Sam Stovall discussed: STARS Rating Performance for 2018 Model Portfolio Retur...
14
Feb
February 14, 2019
CFRA’s robust, independent forensic research methodology uncovers important differences between reported financial results and a company or industry’s true financial health. To assist investors with idea generation and understanding financial statement risk, CFRA’s Biggest Concerns List provides an expertly curated portfolio which seeks to identify manipulative accounting schemes which mask deterioration in a company’s underlying business.   CFRA invites you to an informative webinar where we will highlight important market relevant accounting topics that investors need to k...
14
Jan
January 14, 2019
CFRA invites you to a complimentary webinar on January 14, during which our expert equity analysts will discuss payments companies, the winners and losers, and the outlook ahead as the world goes digital. During this session, you will hear from CFRA’s Director of Equity Research Scott Kessler and CFRA Equity Research Analysts Chris Kuiper and David Holt as they discuss:   The current landscape for payments companies and their offerings Future opportunities for and potential threats to U.S. consumer finance players A view of payment networks and the next payment giants ...
09
Jan
January 09, 2019
Please join senior investment strategists and research leaders from CFRA for a complimentary webinar on January 9, during which we will provide thoughts on what to consider when investing in today’s volatile and low growth market environment as we pass peak earnings/growth and look to the year ahead.   During this session, you will hear from CFRA’s Chief Investment Strategist Sam Stovall, Investment Strategist Lindsey Bell, and Senior Director of ETF & Mutual Fund Research Todd Rosenbluth, as they discuss important concerns such as adjusting expectations, targets, earnings, ...
18
Dec
December 18, 2018
It’s that time of year again! Temperatures have fallen. The holidays are in the air. And our team is making predictions for the new year! Please join equity analysts from CFRA for a complimentary webinar on December 18, during which we will provide what we think are some of the team’s best predictions for 2019, across multiple sectors and sub-industries. As we conclude 2018 and look towards next year, CFRA’s team of analysts has been thinking about the themes, trends and developments that could move markets and stocks in 2019, and has been working on related predictions research t...
05
Dec
December 05, 2018
Please join CFRA for an informative webinar on Wednesday, December 5. Over the past few years, companies have been using two discreet techniques to flatter their cash flow: a) reverse factoring (aka supplier factoring, structured payables programs, confirming, and/or supply chain financing) and b) receivables factoring (aka discounting receivables, selling receivables, receivables financing). Location matters as under IFRS companies classify reverse factoring differently in the Statement of Cash Flow, impacting comparability. For the sale of receivables, a new accounting standard update ...
30
Oct
October 30, 2018
During this webcast, Sam Stovall, Chief Investment Strategist at CFRA and Zach Gast, Global Head of Research at CFRA answered two essential questions that investors have been asking lately, with the recent market fluctuations: How long might this decline last and how deep could prices fall? More important, how quickly could we recover and which groups could lead the way? Presented by: Sam Stovall, Chief Investment Strategist, CFRA Moderated by: Zach Gast, Global Head of Research, CFRA
18
Oct
October 18, 2018
During this webinar, experts from CFRA and Fresh Brewed Media provided insights into how you can find profitable options trades based on your strategy. Did you know that you can get option reports on every stock that CFRA rates as 5, 4 or 3 STARS where an option trade can work, with just the click of a button? CFRA works with Investors Observer to combine our in-depth equity and ETF research and analysis with options strategies that add downside protection and can provide returns even in flat markets. In this session, we showed you how you can develop a strategy and take that strategy a...
09
Oct
October 09, 2018
During this webinar, thought leaders from CFRA provided their perspective on markets, sectors and ETFs for the balance of the year and into 2019. A major theme addressed throughout the presentation is seasonality and how to better understand and capitalize on it from an investment perspective. CFRA’s Chief Investment Strategist Sam Stovall, Investment Strategist Lindsey Bell, and Senior Director of ETF & Mutual Fund Research Todd Rosenbluth, provided an overview of: An explanation of the importance of seasonality in anticipating market movements and identifying related invest...
26
Sep
September 26, 2018
Advisors face a myriad of choices when it comes to identifying the best ETFs, particularly as new products continued to emerge over the last three years. Knowing how to guide your clients through the complexities of the various ETF offerings is critical to providing objective guidance. During this session, CFRA’s Todd Rosenbluth, Head of ETF & Mutual Fund Research, was joined by a panel of experts from BlackRock, JP Morgan, and OppenheimerFunds. The panelists discussed the growing usage of smart beta equity and fixed income ETFs and the appeal of these strategies for investors, inc...
12
Sep
September 12, 2018
CFRA’s Legal Edge team discussed the key legal, regulatory, and policy risks for the four dominant US technology platforms: Alphabet, Amazon, Apple, and Facebook. During this session, we reviewed the strategies you can use to model legal risks for each of these four dominate technology platforms, and discussed the positive and negative catalysts that could trigger repricing of the stocks. Legal situations are often under-covered by sell-side research. That’s why CFRA Legal Edge partners with institutional investors to understand the legal and regulatory risks related to public compani...
06
Sep
September 06, 2018
We anticipate a slew of Apple products to launch this fall across all major product categories, led by three new iPhones. During this session you will hear from CFRA’s senior analyst Angelo Zino and CFRA’s head of global research Zach Gast as they provide our expectations of new products set to be unveiled by Apple at its all-important annual September event, and what this may mean for investors: forecasts on the potential new device launches; expectations on the winners and losers within the Apple supply chain over the next twelve months; and the investment outlook on Apple a...
07
Aug
August 07, 2018
This webinar examined case studies of companies that showed financial statement red flags but weren’t placed on the Biggest Concerns list. When it comes to idea generation and understanding financial statement risk, CFRA’s Biggest Concerns List is an expertly curated portfolio which seeks to identify manipulative accounting schemes which mask deterioration in a company’s underlying business. CFRA looks at companies that have poor quality of reported financial results, operational metrics and/or corporate governance issues – and while not every company we analyze rises to the level ...
25
Jul
July 25, 2018
Todd Rosenbluth, Head of ETF & Mutual Fund Research and Paul Beland, Deputy Director of Research at CFRA reviewed the highlights from the first half of 2018 and discuss the outlook for active mutual Funds and index ETFs. During this session, we reviewed: Equity and bond investment styles where active performed the best vs. index-based ETFs. Examples of mutual funds that are appealing based on forward looking analysis. Smart beta ETF strategies that delivered outperformance and what’s inside them. How advisors are using CFRA’s tools to leverage our sector and stock rese...
10
Jul
July 10, 2018
During this session, CFRA’s leading experts provided an overview of S&P 500 and sector earnings and valuations. • CFRA’s outlook for the second half of 2018, just ahead of Q2 earnings season and a few months before the mid-term elections • A look at S&P 500 and sector earnings and valuations, highlighting sectors on which CFRA recently became more positive, most notably Technology • Details about ETFs focused on the Technology and Energy sectors, with some specific stock recommendations Speakers: • Sam Stovall, Chief Investment Strategist, Equity Research • Linds...

John is Vice President of Equity Research. He joined CFRA in April 2019. He is responsible for fundamental equity research and analysis covering several segments within the Information Technology and Communication Services sectors, including enterprise software and SaaS/cloud providers, Internet advertising/social media platforms, and game developers.

Prior to joining CFRA, John co-founded Samadhi Capital Partners, an investment advisor and equity research firm where he developed an investment process and framework targeted at tech sector equities, with a particular emphasis on gauging the impact of and identifying the long-term winners from artificial intelligence, machine learning, deep learning, neural networks, and related developments categorized under the larger “cognification of software” mega-trend. Before his entrepreneurial stint, he served as Senior Analyst and Portfolio Manager at Sands Capital Management, responsible for the firm’s investments within the tech sector.

John began his career in equity research with an independent equity research firm, Precursor, where he was ranked as the top analyst covering network equipment stocks among independent research firms. He also spent the first dozen years of his career in various roles within the tech industry. During this time, he published dozens of white papers and research reports on topics ranging from network processors, Virtual LAN (VLAN) technology, and the historical evolution of enterprise application architecture.

John graduated from Harvard University with a BA in East Asian Studies.

Matthew is Vice President of Equity Research at CFRA. He is responsible for providing differentiated and actionable research and recommendations on equities in the Materials and Industrials sectors. Matthew’s areas of focus include: metals & mining, construction materials, containers & packaging, and building products. Matthew previously held the position of Industry/Equity Analyst at S&P Global Market Intelligence.

Matthew joined CFRA in 2016 and S&P Global in 2014, after working on the buy-side as an Equity Analyst at London Capital Management in London, Canada, where he covered North American stocks in the Energy and Consumer Staples sectors. Prior to joining the equity research industry, Matthew worked as a Financial Analyst for companies in both the retail and fitness areas.

Matthew holds his Bachelor of Business Administration degree from Colorado State University and his MBA from Concordia University in Montreal, Canada. He is also a CFA charterholder.

Sam Stovall is Chief Investment Strategist of U.S. Equity Strategy at CFRA. He serves as analyst, publisher and communicator of CFRA’s outlooks for the economy, market, and sectors. Sam is the Chairman of the CFRA Investment Policy Committee, where he focuses on market history and valuations, as well as industry momentum strategies. He is the author of The Standard & Poor’s Guide to Sector Investing and The Seven Rules of Wall Street. In addition, Sam writes a weekly investment piece, featured on CFRA’s MarketScope Advisor platform and his work is also found in the flagship weekly newsletter The Outlook.

Prior to joining S&P Global in 1989 and CFRA in 2016, Sam served as Editor In Chief at Argus Research, an independent investment research firm in New York City.

He holds an MBA in Finance from New York University and a B.A. in History/Education from Muhlenberg College, in Allentown, PA. He is a CFP® certificant and is a Trustee of the Securities Industry Institute®, the executive development program held annually at The Wharton School of The University of Pennsylvania.

Follow Sam on Twitter: @StovallCFRA

Todd Rosenbluth is Senior Director of ETF and Mutual Fund Research at CFRA where he leads the firm’s holdings-based research efforts within the Equity Research and Fund group. Todd publishes regular thought leadership content on equity and fixed income products, maintains the quantitative fund models and supports client needs. He also serves as a member of Portfolio Strategy Committee and the Investment Policy Committee. Todd also held the position of Senior Director of ETF and Mutual Fund Research for S&P Global Market Intelligence.

Prior to joining CFRA, Todd previously served in other financial positions at S&P Global, such as International Mutual Fund Sector Specialist, Large Cap Value and Large Cap Growth Analyst and has served on the Fund Services Asset Allocation Committee. Prior to joining S&P Global in 2001, Todd was managing editor of Value Line Mutual Fund Survey and Senior Large Cap and Small Cap Value Mutual Fund Analyst. He was also a Financial Advisor with Morgan Stanley.

Todd holds a B.G.S in Finance from the University of Michigan and an MBA in Finance from New York University.

Follow Todd on Twitter at: @ToddCFRA

Lindsey Bell is an Investment Strategist at CFRA. Along with the Chief Investment Officer, she determines CFRA’s asset class allocation and equity sector level recommendations. She participates in projecting the firm’s 12-month S&P 500 price target. Her market observations and sector opinions are expressed in regular writings on CFRA’s MarketScope Advisor (MSA) platform. She oversees CFRA’s portfolio management committee which manages five portfolios of stocks. Finally, she also assists in authoring monthly European and Asian Investment Policy Committee (IPC) notes, also available on MSA. She is a frequent guest on FoxBusiness, CNBC, Bloomberg and Yahoo! Finance, etc.

Prior to joining CFRA, Lindsey worked as an Investment Strategist with S&P Global within the Investment Advisory Services division. She worked in several different capacities at TheStreet.com before that, from helping to manage Jim Cramer’s small and mid-cap Charitable Trusts, to leading trader blog conversations and writing research. She learned the ropes as an equity research analyst at J.P Morgan and Deutsche Bank covering retail companies, and began her career in investment banking with Jefferies & Company’s Mergers & Acquisition group.

Follow Lindsey on Twitter: @LBellCFRA

Tuna is Director & Industry Analyst at CFRA. He is responsible for general oversight of the firm’s Consumer sector strategy and recommendations by a team of equity analysts, for hundreds of securities. He covers companies in the Internet Retail universe such as Amazon and Netflix, as well as media companies such as CBS, Comcast and Disney. Tuna previously held a similar position at S&P Global Market Intelligence where he led a core team that created and implemented a proprietary S&P Core Earnings® framework, also serving on the firm’s Analytical Policy Board. He currently authors a biannual industry survey called “Media”.

Prior to joining CFRA and S&P Global, Tuna was a Senior Equity Analyst at Lehman Brothers, New York. He participated in key decisions by the firm’s Investment Policy Committee and was highly instrumental in managing a multi-capitalization equity portfolio, with primary focus on the Technology, Media and Telecom (TMT) sectors. Tuna also gained extensive global consulting experience in his previous roles at Arthur Andersen and KPMG.

Tuna earned an MBA in Finance from the Strathclyde University Business School in Scotland, U.K. He also holds a B.Sc. in Accounting from University of Nigeria as well as LL.B. (JD). Tuna is a CFA charterholder and a Certified Public Accountant (CPA).

Peter is the CEO at CFRA where he is responsible for the global strategic leadership of the firm. Peter acquired CFRA in March 2013. Previously he was Executive Managing Director at S&P Global. Prior to this role, Peter was Executive Director at Morgan Stanley and Vice President at JPMorgan where he helped develop leading Financial Technology investment banking practices. In addition, Peter was Vice President with LabMorgan, a JPMorgan venture capital division investing in financial information and technology companies. Peter graduated from Union College with a BA in Economics and holds an MBA in Finance and Entrepreneurial Management from The Wharton School, University of Pennsylvania.

Theresa is the CFO & COO at CFRA, leading the company’s global financial and operational affairs. Theresa was most recently the Senior Director of Finance, Corporate Controller for SNL Financial (now part of S&P Global) where she worked for approximately ten years in helping the business to scale to $250 million in revenues and over 3,000 employees. Prior to SNL Financial, she was Director of Business Management with LexisNexis and a Consulting Manager with Grant Thornton LLP. Theresa graduated from the University of Virginia with a BA in Mathematics and holds an MBA from the Raymond A. Mason School of Business, William & Mary.

Dan is the Chief Revenue Officer of CFRA where he oversees the company's global sales and marketing efforts. He has over 20 years of experience in sales management, team building and partner development including roles as the Executive Vice President of Sales and Marketing at WealthEngine and CEO of GMI Ratings, an independent provider of global corporate governance, forensic accounting and ESG ratings and research. As CEO, Dan led the company to a successful exit for shareholders through a sale to strategic acquirer, MSCI, Inc. He also served as Executive Vice President of Sales & Marketing for Institutional Shareholder Services (ISS) where he helped significantly increase revenues and actively participated in the sale to RiskMetrics Group (now part of MSCI, Inc.). Dan graduated from the University of Maryland and holds an MBA from Baruch College.

Zach is President at CFRA, overseeing the firm's intellectual property and client activities including research, analytics, data, client coverage, and marketing. He previously served as Global Head of Research at the company from 2015-2019 as well as Head of the Financial Institutions Research team. Prior to returning to CFRA in 2013, Zach was with Paulson & Co. and Paulson Europe where he covered financial institutions globally. He has worked in microfinance internationally and testified before the U.S. House and Senate on small business lending and development. Zach graduated from Brown University with BAs in Political Science and Italian Studies and holds an MBA from the McDonough School of Business at Georgetown University. He is a CFA charterholder.

Eram is the CTO and Chief Product officer at CFRA where he defines product strategy and leads technology innovation leveraging his 15 years of experience delivering commercially profitable client-centered solutions. Prior to joining CFRA, Eram was Senior Director of Commercial Solutions at Fitch Solutions for buy and sell-side markets. As Global Head of Desktop Product Development, he developed the strategy and launched the flagship Fitch Connect Web and Excel platform that accounted for over $100M of revenue targeting counterparty credit and credit markets. Prior to Fitch, Eram held product development roles at S&P Global and other information services firms. Eram graduated from Washington University in Saint Louis with a BS in Marketing & Strategy and holds an MA in Cognitive Science from Teacher’s College, Columbia University.

Heather is the Global Head of Talent, driving Talent strategy and related matters across the globe. Heather was most recently the Senior Director of Human Resources at SNL Financial (now part of S&P Global) where she worked for approximately 19 years helping the business scale to $250 million in revenue and over 3,000 employees. Prior to filling the HR role at SNL, Heather worked as the Director of SNL’s Content Operations. Heather graduated from Mary Baldwin College with a BA in Business Administration.

David is CFRA’s General Counsel overseeing the company’s legal, regulatory and compliance matters. David served previously as Assistant General Counsel for S&P Global Market Intelligence, and as Senior Counsel for SNL Financial immediately prior thereto, where he handled a wide variety of legal matters. David graduated from the University of Virginia with a BA in Economics and holds a JD from the University of Virginia School of Law.

“What makes CFRA unique is the delicate balance of skepticism, curiosity and conviction that we experience throughout the company.”

What makes CFRA special?
The diversity of views (both long and short) across the company, which drives prudent decisions free of bias. A rarity in our business.

What’s your favorite aspect of your job?
That the delicate balance of skepticism, curiosity and conviction can often be rewarded if correctly executed.

Can you describe your typical day at CFRA?
What makes your days at CFRA different than other jobs you have had?
At CFRA, your opinions and suggestions go further, which was something I had not experienced when working at larger corporations.

“At CFRA, everyone shares the same values
and is dedicated to the mission…No egos, no politics.”

What makes CFRA special?
You always hear how first impression is the most important one. When I joined CFRA some 18 months ago, it was in a midst of a large RFP in EMEA. We had extremely tight deadline and very complex proposal to make. I was new, nobody knew me and I needed a lot of support. I am still amazed how everyone came together to help. Every department pitched in and went for that famous extra mile to meet the deadline. Still today, there is not a one single person I could not reach out to if I need help. In essence, that is what makes CFRA special.

What’s your favorite aspect of your job?
Independence. I am given the goals and know exactly how I’m measured, but I have the autonomy over my responsibilities and daily tasks.

Can you describe your typical day at CFRA?
Everyone shares the same values and is dedicated to the mission. Many companies talk about breaking down their silos, but here people do whatever it takes to get the job done – even if it’s not written in their job description. No egos, no politics. This is a first for me.

“At CFRA, the degree of freedom and flexibility in conducting research, coupled with the emphasis on integrity, performance and excellence, provides a healthy working environment which encourages collaboration, analytical rigor and a continuous drive for incremental improvement, while remaining cognizant of the need for work-life balance.”

What makes CFRA special?
Having worked with a large multinational corporation for close to a decade, I can testify that CFRA feels a lot more close-knit, where what each and every individual does is important and plays a part in the overall direction of the business. As we continue to grow, I believe it is very important to maintain this aspect of who we are.

What’s your favorite aspect of your job?
Even after being in research for close to 15 years, I'm happy to find that there will always be new things to learn on a daily basis, new ways of doing things, new challenges to tackle, whether strictly in research or in the day-to-day management of CFRA Malaysia.

Can you describe your typical day at CFRA?
I think the degree of freedom and flexibility in conducting research, coupled with the emphasis on integrity, performance and excellence, provides a healthy working environment which encourages collaboration, analytical rigor and a continuous drive for incremental improvement, while remaining cognizant of the need for work-life balance.

“I really enjoy helping clients uncover risks in their investment decisions, and thereby save money.”

What makes CFRA special?
People…even though I don’t get to work with everyone in our office as we expand and offer more products, I truly feel we are all on the same team, working towards the same goal of keeping our clients first in all that we do, by collaborating with each other to produce the best quality products that add value to our clients.

What’s your favorite aspect of your job?
Clients…Helping clients uncover risks in their investment decisions and thereby save money. It is really fun to uncover situations where management of public companies are trying to mislead investors.

Can you describe your typical day at CFRA?
People…I enjoy the work that I do, but more importantly I enjoy working and collaborating with our team.

“As a smaller company, everyone at CFRA is willing to wear whatever hat is needed on any given day, and do it well.”

What makes CFRA special?
There are numerous things, but one that stands out to me is the people. As a smaller company, everyone is willing to wear whatever hat is needed on any given day and do it well. I like the relaxed atmosphere combined with the fact that everyone is willing and able to buckle down when necessary. And, I think that’s embodied in our corporate culture where integrity and excellence are the expectation.

What’s your favorite aspect of your job?
A couple items. First, I really am thankful to be able to apply my education directly into my work. That has not always been the case in my career. Second, I’ve really enjoyed leading the financial audit process across all of our entities with our external auditors. It’s been a great learning process and has allowed me to develop a keener understanding of our financials across the company.

Can you describe your typical day at CFRA?
I work more closely with the senior management team on a more consistent basis. The insight into corporate strategy, goals, and performance has been welcome from a knowledge, understanding, and alignment perspective.

“The independence that we have to explore new idea generation or to do a deeper dive into research, allows for CFRA to stay ahead of financial trends.”
What makes CFRA special?
Having flexibility at CFRA allows for creativity and idea generation. We get to explore deeper dimensions while conducting research and see the unseen. The freedom I have at work is exchanged with self-discipline and independence which allows me to be inventive.
What’s your favorite aspect of your job?
I appreciate life-long learning, which the company provides. Whether it’s a small gesture or breaking headlines, you continuously get exposed and stay sensitive to diverse perspectives, in-depth understanding and vast amount of information. It is satisfying to connect the dots and make actionable conclusions, to maneuver through the ever-changing financial world.
Can you describe your typical day at CFRA?
There is no typical day here. It’s never the same and there are no rigid daily schedules to dictate what comes next. Inspiration and information come at anytime and anywhere and when it does, I let it sink in, and then I begin to filter and retrieve the essence. My highest responsibility is to meet my goals and deadline so that our clients receive that best independent research every time they read.
“Each analyst has the ability to be objective and make conclusions as he/she sees it.”
What makes CFRA special?
CFRA is independent and objective. We are not swayed by banking and trading relationships. Each analyst calls it like he/she sees it.
What’s your favorite aspect of your job?
My favorite part of the job is authoring thematic research. I like to find novel applications to data pertaining to my coverage universe (retail, apparel, accessories & luxury goods) and to bring a more holistic approach to investment analysis.
Can you describe your typical day at CFRA?
A typical day starts out catching up on news for my coverage universe. From there, the days can diverge from updating models and authoring research notes reflecting breaking news events, to writing thematic research and Industry Surveys.
“The learning never stops. We are encouraged to explore new topics, propose new mythologies, and collaborate with one another while upholding CFRA’s core values.”
What makes CFRA special?
Employees take pride in their work and everyone has the opportunity for their voice to be heard. CFRA places emphasis on independence and integrity, keeping ethics at the forefront of the business.
What’s your favorite aspect of your job?
Collaboration. The quantitative team is a close-knit group; we are always working together to improve our process. In addition to collaboration, my position gives me the leeway to explore an interesting topic and propose new methods to implement in our models.
Can you describe your typical day at CFRA?
The benefit of quantitative research is you don’t necessarily know where your day will end up. Whether it is exploring a new method or working to improve an old process, each day can hold something difference.
“There’s not typical day here at the office! Our entrepreneurial environment is advantageous and allows for us to be client focused.”
What makes CFRA special?
The people at CFRA are great to work with, and our research is unique.
What’s your favorite aspect of your job?
Top of my list is people, but since I’ve already mentioned that, I’ll go with the close second of the entrepreneurial nature of the job.
Can you describe your typical day at CFRA?
Not really, and that’s something that I like too. Some activities happen daily, but many are client-focused or project-based, providing variation over time.
“The most rewarding part of my day is being able to build a profound relationship with our clients.”
What makes CFRA special?
CFRA has a deeply-ingrained culture of independence, analytical rigor, and intellectual curiosity. Being part of that tradition is a privilege and is a reminder, every day, of the significance of our individual and collective efforts.
What’s your favorite aspect of your job?
Taking on board all the different inputs to our analysis, drawing conclusions, and then communicating our views to clients.
Can you describe your typical day at CFRA?
The day begins with a review of our “firehose” inbox, consisting of legal filings and developments across the many lawsuits and regulatory matters we’re tracking. A Report or Alert is drafted and issued in the event of significant new developments. A portion of the day is devoted to new ideas or further research on existing situations under coverage. Perhaps the most important and gratifying component of our typical day is responding to client questions and building deeper relationships with clients.
“I am always learning something new everyday here at CFRA. The learning never stops, it only gets better.”
What makes CFRA special?
Unique and impactful research.
What’s your favorite aspect of your job?
Always learnings something new.
Can you describe your typical day at CFRA?
Mostly reading filings and associated documents.
“At CFRA, there’s an infectious intellectual
curiosity that permeates the
corporate culture.”

What makes CFRA special?
CFRA has the best corporate culture I’ve experienced in my long career, and it cascades down from the CEO to all employees. There’s a pride and a tireless purpose to be the best, but never at the expense of integrity.

What’s your favorite aspect of your job?
My favorite part of my job is heading analyst training. We host several training sessions each quarter on exciting topics like effective research writing, statistical analysis, valuation, and complex forensic accounting. And while we bring in external resources when needed, we have so many highly accomplished professionals and academics working at CFRA that enjoy cross-pollinating skills to other employees.

Can you describe your typical day at CFRA?
That’s a tough question. I think one of the reasons I’ve been working as a research analyst for nearly 20 years is that every day is different.

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