Joel C. Kurth

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Finance

Profil

Mr. Kurth joined Nakoma Capital Management in January 2008.
He began his career in the investment industry in 1995.
From 1998 to 2007, he was a portfolio manager at Ark Asset Management, an institutional equity manager in New York City.
From 1995 to 1998, he was a Securities Analyst at Columbus Circle Investors, and institutional equity manager in Stamford, Connecticut.
Mr. Kurth holds a BBA (with honors) and an MS in Finance from the University of Wisconsin-Madison, where he also participated in the University's Applied Security Analysis Program.
He is a CFA Charterholder.

Anciens postes connus de Joel C. Kurth

Sociétés	Poste	Fin
Nakoma Capital Management LLC Nakoma Capital Management LLC Investment ManagersFinance Nakoma Capital Management is a long/short equity manager. The firm manages separate accounts and limited partnerships that are designed to produce an absolute rate of return commensurate with the stock market with risk levels similar to the bond market. The firm employs a style-agnostic, expectations investment approach. Their investment philosophy is based on a fundamental view of how stock prices are set that begins with the idea that stock prices reflect consensus expectations of company business performance. The securities held in Nakoma portfolios are mainly US stocks of large to medium sized companies may also include ETFs. Though not limited by sector, Nakoma tends to invest in the stocks of companies in the electronic technology, retail and healthcare technology sectors. They invest across all market-caps, primarily in US companies. The firm maintains a high turnover rate. The firm's investment approach includes three processes: dynamic asset allocation, fundamental stock selection and risk management. The approach was designed to succeed regardless of the stock market environment with an overriding objective to participate in rising markets and protect capital in falling markets. Their dynamic asset allocation process is designed to increase net equity exposure when it is the firm's view that the equity market environment is favorable and decrease net equity exposure when they believe the equity market environment is less favorable. The actual net exposure results from the flow of long and short ideas as well as an analysis of macro factors affecting investor expectations for market returns. The firm surveys economists and strategists to determine the expectations distribution for a number of drivers of growth, interest rates and investor sentiment. When trends in the leading indictors of growth, interest rates and investor sentiment are consistent with the more optimistic forecasts, the net exposure is increased. Nakoma's fundamental stock selection process seeks to identify companies with the potential for positively or negatively surprising business results over a 6 to 18 month time horizon. For each stock, the firm monitors key business drivers (macroeconomic, secular trends, industry dynamics and company specific events) that will affect the underlying company's business over the investment time horizon. They believe that when a company's key drivers exceed expectations, the company's share price can be expected to follow a positive price trend until investor expectations and actual company performance converge. Conversely, if a company's results fall short of investors' expectations, its securities will usually under perform until those expectations are lowered to the level at which the company is actually performing. The firm's risk management process analyzes the sources of volatility in the portfolio such as capitalization, style and interest rate sensitivity. They seek to match risk exposures with the firm's overall market view and avoid unintended risk exposures. Additional risk management techniques, such as maintaining a well diversified portfolio with maximum position sizes, are employed in a further effort to minimize volatility.	Gestionnaire de Portefeuille-Actions	31/05/2010
Ark Asset Management Co., Inc. Ark Asset Management Co., Inc. Investment ManagersFinance A team of portfolio managers oversees each product. The large-cap growth portfolio is constructed relative to the Russell 1000 Growth index. The goal for the large cap value portfolio is to outperform the Russell 1000 Value index. Stocks meeting their minimum capitalization and liquidity requirements are screened based on a proprietary methodology. Once this focus list is determined, they conduct in-house fundamental research to narrow the list to buy candidates. Stocks are selected based on either a low p/e ratio relative to projected earnings growth or on a discount to intrinsic asset value. Ark's small/mid-cap value philosophy reflects a belief that incremental returns can be achieved within the small/mid-cap universe by combining a quantitative approach with traditional fundamental analysis. Using a proprietary six factor model, the universe is further refined using a combination of historical and current data. For their Specialty Growth portfolio, Ark invests in companies along a broad range of market capitalizations that provide significant growth opportunities due to secular or cyclical changes. Their goal is to achieve substantial returns versus the market over a full market cycle through a concentrated portfolio of stocks. This process is driven by research-intensive fundamental stock selection, focused on developing themes and selecting stocks within them. Ark generally sells companies that become less attractive than other securities due to deteriorating current fundamentals or declining earnings expectations. In managing fixed-income portfolios, Ark's investment decisions integrate the expertise of a team of fixed-income specialists. The investment process begins with a top-down approach focusing on the current environment, the economy, and interest rate outlook. Their duration strategy is designed to be risk averse; they do not use market timing. A key determinant in maximizing total return for a given level of risk is proper positioning of a portfolio along the yield curve. Their positioning is based on the current shape and anticipated changes in the yield curve, and an analysis of the spot and forward yield curves. Quantitatively, they review spread relationships among the various sectors, conduct break-even analysis and project total rates of return for various scenarios. The qualitative analysis involves the evaluation of technical factors influencing the market, such as trends, imbalances and seasonal patterns.	Gestionnaire de Portefeuille-Actions	31/05/2007

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Ark Asset Management Co., Inc. Ark Asset Management Co., Inc. Investment ManagersFinance A team of portfolio managers oversees each product. The large-cap growth portfolio is constructed relative to the Russell 1000 Growth index. The goal for the large cap value portfolio is to outperform the Russell 1000 Value index. Stocks meeting their minimum capitalization and liquidity requirements are screened based on a proprietary methodology. Once this focus list is determined, they conduct in-house fundamental research to narrow the list to buy candidates. Stocks are selected based on either a low p/e ratio relative to projected earnings growth or on a discount to intrinsic asset value. Ark's small/mid-cap value philosophy reflects a belief that incremental returns can be achieved within the small/mid-cap universe by combining a quantitative approach with traditional fundamental analysis. Using a proprietary six factor model, the universe is further refined using a combination of historical and current data. For their Specialty Growth portfolio, Ark invests in companies along a broad range of market capitalizations that provide significant growth opportunities due to secular or cyclical changes. Their goal is to achieve substantial returns versus the market over a full market cycle through a concentrated portfolio of stocks. This process is driven by research-intensive fundamental stock selection, focused on developing themes and selecting stocks within them. Ark generally sells companies that become less attractive than other securities due to deteriorating current fundamentals or declining earnings expectations. In managing fixed-income portfolios, Ark's investment decisions integrate the expertise of a team of fixed-income specialists. The investment process begins with a top-down approach focusing on the current environment, the economy, and interest rate outlook. Their duration strategy is designed to be risk averse; they do not use market timing. A key determinant in maximizing total return for a given level of risk is proper positioning of a portfolio along the yield curve. Their positioning is based on the current shape and anticipated changes in the yield curve, and an analysis of the spot and forward yield curves. Quantitatively, they review spread relationships among the various sectors, conduct break-even analysis and project total rates of return for various scenarios. The qualitative analysis involves the evaluation of technical factors influencing the market, such as trends, imbalances and seasonal patterns.	Finance
Nakoma Capital Management LLC Nakoma Capital Management LLC Investment ManagersFinance Nakoma Capital Management is a long/short equity manager. The firm manages separate accounts and limited partnerships that are designed to produce an absolute rate of return commensurate with the stock market with risk levels similar to the bond market. The firm employs a style-agnostic, expectations investment approach. Their investment philosophy is based on a fundamental view of how stock prices are set that begins with the idea that stock prices reflect consensus expectations of company business performance. The securities held in Nakoma portfolios are mainly US stocks of large to medium sized companies may also include ETFs. Though not limited by sector, Nakoma tends to invest in the stocks of companies in the electronic technology, retail and healthcare technology sectors. They invest across all market-caps, primarily in US companies. The firm maintains a high turnover rate. The firm's investment approach includes three processes: dynamic asset allocation, fundamental stock selection and risk management. The approach was designed to succeed regardless of the stock market environment with an overriding objective to participate in rising markets and protect capital in falling markets. Their dynamic asset allocation process is designed to increase net equity exposure when it is the firm's view that the equity market environment is favorable and decrease net equity exposure when they believe the equity market environment is less favorable. The actual net exposure results from the flow of long and short ideas as well as an analysis of macro factors affecting investor expectations for market returns. The firm surveys economists and strategists to determine the expectations distribution for a number of drivers of growth, interest rates and investor sentiment. When trends in the leading indictors of growth, interest rates and investor sentiment are consistent with the more optimistic forecasts, the net exposure is increased. Nakoma's fundamental stock selection process seeks to identify companies with the potential for positively or negatively surprising business results over a 6 to 18 month time horizon. For each stock, the firm monitors key business drivers (macroeconomic, secular trends, industry dynamics and company specific events) that will affect the underlying company's business over the investment time horizon. They believe that when a company's key drivers exceed expectations, the company's share price can be expected to follow a positive price trend until investor expectations and actual company performance converge. Conversely, if a company's results fall short of investors' expectations, its securities will usually under perform until those expectations are lowered to the level at which the company is actually performing. The firm's risk management process analyzes the sources of volatility in the portfolio such as capitalization, style and interest rate sensitivity. They seek to match risk exposures with the firm's overall market view and avoid unintended risk exposures. Additional risk management techniques, such as maintaining a well diversified portfolio with maximum position sizes, are employed in a further effort to minimize volatility.	Finance

Entreprise privées

Ark Asset Management Co., Inc.

Investment ManagersFinance

A team of portfolio managers oversees each product. The large-cap growth portfolio is constructed relative to the Russell 1000 Growth index. The goal for the large cap value portfolio is to outperform the Russell 1000 Value index. Stocks meeting their minimum capitalization and liquidity requirements are screened based on a proprietary methodology. Once this focus list is determined, they conduct in-house fundamental research to narrow the list to buy candidates. Stocks are selected based on either a low p/e ratio relative to projected earnings growth or on a discount to intrinsic asset value. Ark's small/mid-cap value philosophy reflects a belief that incremental returns can be achieved within the small/mid-cap universe by combining a quantitative approach with traditional fundamental analysis. Using a proprietary six factor model, the universe is further refined using a combination of historical and current data. For their Specialty Growth portfolio, Ark invests in companies along a broad range of market capitalizations that provide significant growth opportunities due to secular or cyclical changes. Their goal is to achieve substantial returns versus the market over a full market cycle through a concentrated portfolio of stocks. This process is driven by research-intensive fundamental stock selection, focused on developing themes and selecting stocks within them. Ark generally sells companies that become less attractive than other securities due to deteriorating current fundamentals or declining earnings expectations. In managing fixed-income portfolios, Ark's investment decisions integrate the expertise of a team of fixed-income specialists. The investment process begins with a top-down approach focusing on the current environment, the economy, and interest rate outlook. Their duration strategy is designed to be risk averse; they do not use market timing. A key determinant in maximizing total return for a given level of risk is proper positioning of a portfolio along the yield curve. Their positioning is based on the current shape and anticipated changes in the yield curve, and an analysis of the spot and forward yield curves. Quantitatively, they review spread relationships among the various sectors, conduct break-even analysis and project total rates of return for various scenarios. The qualitative analysis involves the evaluation of technical factors influencing the market, such as trends, imbalances and seasonal patterns.

Finance

Nakoma Capital Management LLC

Investment ManagersFinance

Nakoma Capital Management is a long/short equity manager. The firm manages separate accounts and limited partnerships that are designed to produce an absolute rate of return commensurate with the stock market with risk levels similar to the bond market. The firm employs a style-agnostic, expectations investment approach. Their investment philosophy is based on a fundamental view of how stock prices are set that begins with the idea that stock prices reflect consensus expectations of company business performance. The securities held in Nakoma portfolios are mainly US stocks of large to medium sized companies may also include ETFs. Though not limited by sector, Nakoma tends to invest in the stocks of companies in the electronic technology, retail and healthcare technology sectors. They invest across all market-caps, primarily in US companies. The firm maintains a high turnover rate. The firm's investment approach includes three processes: dynamic asset allocation, fundamental stock selection and risk management. The approach was designed to succeed regardless of the stock market environment with an overriding objective to participate in rising markets and protect capital in falling markets. Their dynamic asset allocation process is designed to increase net equity exposure when it is the firm's view that the equity market environment is favorable and decrease net equity exposure when they believe the equity market environment is less favorable. The actual net exposure results from the flow of long and short ideas as well as an analysis of macro factors affecting investor expectations for market returns. The firm surveys economists and strategists to determine the expectations distribution for a number of drivers of growth, interest rates and investor sentiment. When trends in the leading indictors of growth, interest rates and investor sentiment are consistent with the more optimistic forecasts, the net exposure is increased. Nakoma's fundamental stock selection process seeks to identify companies with the potential for positively or negatively surprising business results over a 6 to 18 month time horizon. For each stock, the firm monitors key business drivers (macroeconomic, secular trends, industry dynamics and company specific events) that will affect the underlying company's business over the investment time horizon. They believe that when a company's key drivers exceed expectations, the company's share price can be expected to follow a positive price trend until investor expectations and actual company performance converge. Conversely, if a company's results fall short of investors' expectations, its securities will usually under perform until those expectations are lowered to the level at which the company is actually performing. The firm's risk management process analyzes the sources of volatility in the portfolio such as capitalization, style and interest rate sensitivity. They seek to match risk exposures with the firm's overall market view and avoid unintended risk exposures. Additional risk management techniques, such as maintaining a well diversified portfolio with maximum position sizes, are employed in a further effort to minimize volatility.

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