At Cimarron, the Relative Value Investing (RVI™) process is a constant -- although the quantitative ranking models have been refined over the years since they were first developed, our fundamental analysis and portfolio construction methodology have become a consistent, well-practiced routine.
Having a proven, repeatable investment discipline allows us to use the same investment team for each of our strategies. The only difference among strategies is the investment universe from which we select stocks, and the benchmark to which the portfolio is sector neutral.
The investment team is a healthy mix of deep experience and emerging talent. Led by Chief Investment Officer John Peavy, the teams works in a collaborative way to parcel out research assignments, consider ideas and manage our portfolios.
Investment team members are generalists, with a research focus on certain sectors depending on the background and interests of the individual.
Working within the RVI™ process, stocks identified for further fundamental research are assigned to the analyst who covers that sector. Findings are discussed and debated by the Investment Committee, which is made up of the firm's investment professionals and meets weekly (or more often as necessary). The Investment Committee reviews strategies on a rotating basis, and reviews stocks being watched closely for buy/sell consideration at each meeting.
Buy/sell decisions are made by consensus. Because all team members look at stocks within the framework of the RVI™ process, there are few major disagreements about the merits of a particular stock.
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John W. Peavy, CFA
Founder, Chief Executive Officer, Chief Investment Officer
2006 - Present
Ph.D. - University of Texas at Arlington
MBA - University of Pennsylvania (Wharton)
BBA - Southern Methodist University
1999 - 2006 Chief Equity Strategist, Dana Investment Advisors
1999 - 2002 CIO, Teacher Retirement System of Texas
1993 - 1998 Founder, CIO, Founders Trust
1983 - Present Founder, Peavy Financial Services
1979 - 1993 Professor of Finance, Southern Methodist University;
Vaughn-Rauscher Chair of Financial Investments;
Chairman of Dept. of Finance
Vice Chairman, Board of Trustees, Employees' Retirement Fund of the City of Dallas
Director, First Private Bank of Texas
Professor of Professional Practices in Finance, Texas Christian University
Associate Editor, Journal of Investing
Author of five books and more than 60 articles in professional and academic journals
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Benjamin K. Friedman, CFA, CPA
Managing Director
Portfolio Manager
2006 - Present
Sector Focus - Consumer Discretionary, Staples, Industrials
MBA - University of Texas at Austin
MS - Texas Tech University
BBA - Texas Tech University
2003 - 2006 Equity Portfolio Manager, Dana Investment Advisors
2002 - 2003 Portfolio Manager, Unversity of Texas MBA Investment Fund, LLC
2001 - 2003 Equity Analyst, Teacher Retirement System of Texas
1997 - 2001 Audit and Business Advisory Group, Arthur Andersen
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Joseph T. Wright
Managing Director
Portfolio Specialist
Director of Marketing and Client Service
2008 - Present
MBA - Northwestern University (Kellogg)
BS - United States Naval Academy
2003 - 2008 Director of Consultant Relations, Calamos Advisors, LLC
1998 - 2003 Retirement Consultant, Fidelity Investments
1996 - 1998 Financial Consultant, Morgan Stanley Dean Witter
Combat veteran, Operation Desert Shield / Desert Storm
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Jason R. Safran, CFA
Vice President
Portfolio Manager
2006 - Present
Sector Focus - Financials, Health Care, Materials
MBA - University of Texas at Austin
BBA - Texas Christian University
2004 - 2006 Portfolio Manager, University if Texas MBA Investment Fund, LLC
2005 Equity Analyst, Ranger Capital Group
2001 - 2004 Equity Research Associate, John McStay Investment Counsel
2000 - 2001 Analyst, William C. Conner Foundation Investment Fund
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Stephanie C. Jones, CPA
Vice President
Equity Analyst
2006 - Present
Sector Focus - Energy, Utilities
MBA - Southern Methodist University
BBA - Texas A&M University
2001 - 2006 Principal, Mercer Human Resource Consulting
1999 - 2001 Senior Associate, SCA Consulting
1997 - 1998 Equity Research Team, Dain Rauscher
1995 - 1997 Financial Analyst, Halliburton Co.
1992 - 1995 Auditor, Price Waterhouse
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J. Paul Cox, CFA, CIPM
Vice President
Equity Analyst
Director of Operations and Trading
2006 - Present
BBA - University of Texas at Austin
2004 - 2006 Operations Manager, Ranger Capital Group
2002 - 2004 Senior Trust Administrator, Banc One Investment Management Group
1998 - 2002 Portfolio Manager, Operations Manager, Smith & Summers LLC
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| Kullen P. Kifer
Equity Analyst
2009 - Present
Sector Focus - Information Technology, Telecomm Services
CFA Level III Candidate
MBA - University of Texas at Austin
BBA - University of Texas at Austin
2007 - 2009 Portfolio Manager, University of Texas MBA Investment Fund, LLC
2003 - 2007 Institutional Equity Sales Team, Banc of America Securities, LLC
2002 Option Trading and Service Team, UBS Paine Webber Inc.
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