Старший консультант - Оценка бизнеса (Business Valuation)

Описание

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MIKHAIL MUNENZON, CFA, CAIA, PRM, MIA
115 Steep Hill Road , Weston CT 06883
(917) 412 - 2273 e -mail address: mikhailmunenzon@gmail.com



SENIOR FINANCIAL SPECIALIST
Valuation
Tangi ble and Intangible Asset Appraisal
Financial Modeling Financial Forecasting
Risk Management


Member of the CFA Institute , CAIA Association, Professional Risk Managers ’ International Association and New York
Society of Security Analysts

CAREER EXPERIENCE H IGHLIGHTS
VALENTIAM GROUP , Dallas, TX 2017 - pr esent
Director
A professional services firm focused on transfer pricing and valuation services for corporate clients. Lead complex
valuations for property tax, M& A, litigation, partnership dissolutio n, fair value measurements (e.g., ASC 820) and other
purposes.

REFORMATION TECHNOLOGIES, Westport, CT 2014 - 2018
Co -Founder and CEO
A boutique systematic trading firm that used m ulti-disciplinary insi ghts into the nature of markets to take advantage of
sustainable behavioral and structural opportunities globally with a dynamic, tail risk based capital management . Led a
team of developers t o create custom, institutional grade, fin ancial software. Successfully developed a unique value
proposition and raised o ver $11mil in ca sh (traded at 4x) from anchor investors during a challenging environment for
systematic traders.

THE OBSERVATORY , Whitestone, NY 2009 - 2013
Director of Asset Allocation a nd Risk
Founded in 2 007, a family office with top tier performan ce overseeing almost $1bn of assets, which are invested globally
across a variet y of assets and strategies with traditional managers and hedge funds .
Created, research ed and implement ed a systemati c investment process (investment strategy, asset allocati on and portfolio
optimization, risk management, manager evaluation and screening ) with a focus on incorporating via advanced techniques
empirical fe atures of mar kets not captured by classi cal finance approaches dominant in academia and the industry (e.g.,
highly time varying returns and correlations across markets, behavioral biases a mong investors, volatility clustering, la rge
tail risks, liquidity r isk). Resear ched and developed systemat ic approach es to asset allocation, risk management and
manager selection that ensure a quality risk adjusted return across market cycles and signifi cantly minimize tail risk . Le d
implement ation within MatLab of cust omized, analy tical software tools for all as pects of the investment process; no
outside analytics software u sed by the organization. Research ed and test ed systematic investment strategies, risk
ind icators and other potentially valuable ideas for the investment org anization. Recommended new investments a nd
oversaw existing one s; evaluated managers; develop ed and maintained relationships in the industry . Oversaw trading
manager research an d diligence. Started and oversaw the internship program. Some of the accomp lishments included:
• Initiated an investm ent due dil igence of systematic/derivatives/macro strategies based on their large positive
potential within the portfolio with a focus on ‘ undiscovered’ managers and led first inve stments for the
organization in the space, resulting in a meaningful reducti on in tail and liquidity risk potential of the portfolio
wi th minimal impact on the potential cumulative return profile
• Started and imple mented a custom tail hedge program for the portfolio
• Created an investment dashboard to tr ack key return and risk statistics acr oss major mar kets and sector s
• Developed a portfolio optimization tool that adjusts for tail and liquidity risks
• Developed system atic strat egies with strong risk adjusted returns
• Implemented a stress test t ool to evaluate various time series acro ss multiple historical, hypothetical and
algorithmic stress tests, resulting in a timely measurement of exposures to various stresses

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• Devel oped a global macro forecasting tool
• Crea ted a custom scenario analysis tool to allow for a flexible modeling of tail risk scenarios for a time series,
resulting in tests of new stresses and their potential portfolio impact
• Developed customized evaluation and screen ing tools of traditional and ad vanced analytics for a dataset of ab out
20,000 traditional and alternative m anagers, in cluding a cus tom rating model
• Created and oversaw a successful, multi year internship program


SACRED HEART UNIVERSITY, Fairfield, CT 2017 - present
Adjunct Professor, Department of Econom ics and Finance
Le cture on fina nce and investments with excellent reviews from faculty and students .


MOUNTAIN LAKE GROUP , New York, NY 2004 – 2008
A value -oriented investment manag ement firm (hedge fund) focused on global, long -term, fundamental investing;
founde d in 2001 b y Mitch Canto r, formerly Director of Research at Sanford Bernstein, co –CIO of Goldman Sachs Asset
Management and CEO of Weiss, Peck & Greer; performance was significantly above the market since inception i n 2001
and si nce 2004
Senior Investment Analyst and Chief Compli ance Officer
As a key member of the 3 person investment team, s ourced, research ed, execut ed a nd monitor ed investment s on a
global basis across multiple industries with a preference fo r the US, Canada, Western E urope and D eveloped Asia; solely
and successfully oversaw $ 2mil of capital; personally initiated, developed and maintained regulatory infra structure to
ensure compliance wit h the registered investment advisor status, i ncluding al l the required documents an d filings ;
established and maintained relationships with ma nagement teams and vendors; implemented currency hedging and cash
management trades; train ed staff to ensure smooth functioning of trade settlement operations and to maintain regulatory
compliance.
• Sourced, research ed a nd executed an investment in Encore Wire that produced a return of over 44% in less than 3
months
o Generated the i dea through a quantitative and 52 week low screen s
o Analyzed the company’s com petitive position, operating strategies and financi al position
o Conducted management interviews
o Developed relationships and conducted interviews with distributors to assess and monitor the investment
• Identified , researched and implemented a short in Technical Olympic th at produced a return of 78% over a period
of 17 months
o Attendance at a homebuilding conference and deteriorating fundamentals of the housing market led to
research o f the sector for the worst positioned players
o Researched the company and its management fo r financial and operating s kills
o Ident ified potenti al problematic off balance sheet jo int ventures
• Solely oversaw and grew $2mil of capital focused on global, long-term, fundamental investing and delivered 11%
annualized return in 2008
• Extensi vely research ed companies and industries from quant itative and q ualitative perspectives
o For example , in 2007, read reports (10K, 10Q, annual report, proxies and related filings) f or over 600
companies (typically, for multiple periods per company)
• Actively developed relationships with management t eams
o In 2007, conducted over 250 management interviews
• Led establishment of relationships with electronic trading platform vendors , oversaw installa tion of and utilized
new trading systems that lowered trading costs by 50-80% fo r domestic and internationa l trades
• Solely c onducte d extensive audits to bring the fir m into compliance with GIPS® (Global Investment Performance
Standards) for perfo rmance measurement and reporting a nd developed programs to ensure subsequent compliance

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EDUCATION
Chartered Financial Analyst (C FA®) charterholder 2005
Chartered Alternative Investmen t Analyst (CAIA®) c harterholder 2009
Professional Risk Ma nager (PRM
TM ) designation 2010
M aster of In ternational A ffairs (MIA) - Columbia University , New York, NY 2002 – 2004
Overall GPA: 4.0 ; Double Major: Inter national Finance and Business, International Economic Policy
Bachelor of Science (BS) - C olumbia University , New Yor k, NY 1996 – 200 0
Overall GPA: 4.0 ; Major: Engineering and Management Systems; Mi nor: Economics
Sheepshead Bay High School, Brooklyn, NY 1992 - 1996
Valedictorian