David C. Distad
Senior Portfolio Manager, Investment Strategy Committee, The Roulac Group, San Rafael, CI, USA
E-mail: ddistad@comcast.net
An experienced finance professional with significant expertise in security analysis and portfolio management, capital markets, corporate finance, and real estate finance/analysis.
EDUCATION
Ph. D., Michigan State University, East Lansing, MI
• Majored in finance, minors in statistics, economics, and international business.
• Dissertation: "An Inquiry Into The Prediction of Mergers Using Multivariate Discrimi-nant Analysis [MDA] on the Financial Ratios of Acquired Firms."
MBA, University of Maryland, College Park, MD
• Finance and quantitative methods (operations research); double major.
• Received research grant from University's Bureau of Business and Economic Research.
B.S., San Jose State University, San Jose, CA
• Double major in accounting and finance.
• Baseball
PROFESSIONAL ACTIVITY
Registered Investment Advisor and Global Real Estate Consultants
• Superior investment performance (25 %, 2005; 38 %, 2004; 136.0% from 5/2003).
• Asked to help develop a primarily long hedge fund strategy using proprietary, g.a.r.p. and value models to build a global equity portfolio across several industries including builders, retail, transportation, technology, lodging and gaming.
• Worked with CEO and research director to assemble a hedge fund team, including re-search, back-office, trading, and marketing.
• Analyzed securities of varying market caps in Far East, Europe, and North and South America.
• Co-supervise staff of ten security analysts based in India.
Portfolio Manager/Security Analyst (1996-2001)
Leylegian Investment Management Co., Inc. South San Francisco, CI
Registered Investment Advisor
• Top tier money manager; no negative results in years 1981-2003.
• Analyzed equities within several industries.
• Marketed portfolio management services to consultants tax-exempt institutions, in-cluding corporations, religious institutions, and philanthropic entities.
Chief Financial Officer (1992-1996)
Thomas Edison Inns, Inc. Grand Rapids, CI
• Saved Company a million dollars annually in reduced interest expenses through a dif-ficult negotiation of a permanent refinancing.
• Saved Company $80-100K per year via a unique strategy to reduce credit card ex-penses.
• Prepared 10Qs, 10Ks, annual reports, proxies; responsible for all reports to the SEC.
• Responsible for Corporate communications, relations with brokers and shareholders.
• Represented our Company in relations with external auditors conducting SEC audits.
• Maintained banking relationships with three banks.
• Developed budgets, pro forma statements, and valuations for board of directors.
• Developed strategy to take company into non-reporting/private status.
• Supervised staff of eight accountants in three locations.
Principal (1981-1992, 2002-2006)
DISTAD & ASSOCIATES, Berkeley, CA
Concurrent with teaching at the University of California, I was a financial consultant doing valuations, including litigation support, determining values of real estate entities as well as security analysis, portfolio management, and portfolio strategies. I was a court admitted ex-pert witness in California.
Examples of my consulting engagements included:
• Researched risk and returns characteristics of REITS, CMBSs, and reverse mortgages.
• Created a real estate equity returns index for Merrill Lynch and The Roulac Group.
• Valued stocks, bonds, leases, subsidiaries, an apple orchard, ground leases, valued a multi-billion dollar land development, REITs, and general partnerships for DeLoitte and Touche, Kenneth Leventhal & Co., and The Roulac Group.
• Analyzed bond and equity portfolios, developed investment strategies for Roulac's clients.
• Analyzed suitability and risk/return issues of insurance company equity investments sepa-rate accounts in litigation against a major insurance company.
• Analyzed rates of returns of foreclosed agricultural properties in litigation against another major insurance company.
• Taught CFA review sessions in statistics, debt and equity analysis, Security Analysts of San Francisco.
• CFA III, II: senior grader in economics and derivatives, for AIMR at Charlottesville.
• Reviewed numerous text manuscripts including Bodie, Kane and Marcus's Investments for McGraw-Hill, and most recently the new text, Behavioral Corporate Finance, by Hersh Shefrin. I am tentatively scheduled to review the next Brealy and Myers Corpo-rate Finance as well as the next Bodie, Kane and Marcus Investments.
Continuing Lecturer in Finance, former Visiting Associate Professor (1981-1992)
Haas School of Business, University of California, Berkeley, CA 2002-2006
Teach MBA and undergraduate courses in corporate finance and undergraduate investments courses.
• "Club 6" Dean's Citation for excellent teaching, 2002, 2004, 2005.
• Nominated several times as outstanding undergraduate instructor at the Haas Business School.
• Currently part-time lecturer in investments; (capital markets, security valuations, deriva-tives, hedging and equity and bond portfolio management). Maintaining a 6 out of 7 teaching ranking.
MISCELLANY: PAPERS, MEMBERSHIPS, LICENSES, COMPUTER SKILLS, & ACADEMIC AWARDS
Chartered Financial Analyst (CFA),
NASD Series 2 License
Beta Gamma Sigma
Security Analysts of San Francisco; active in two committees:
• Financial Literacy &
• Continuing Education/Professional Development
Member of:
• CFA Institute
• American Finance Association
• Western Finance Association
• Global Association of Risk Professionals
Co-authored: "Shifting Foundations of the Real Estate..," Journal of Real Estate Literature, 2004.
