HIGH YIELD PANEL DISCUSSION
Central banks have injected markets with unprecedented levels of liquidity. High yield issuer default rates remain low despite aggressive underwriting and a collapse in oil prices. But what is the outlook? Join the CFA Society of Dallas / Fort Worth on April 9th for an in depth discussion of the high yield market. Our panelists include a monetary expert and two active high yield market participants. Our panel will be moderated by Caroline Cooley, Chief Investment Officer of Crestline Investors, Inc.. Don't miss it!
Danielle DiMartino Booth, Senior Financial Analyst & Advisor, Federal Reserve Bank of Dallas
Peter E. Ehret, CFA, Portfolio Manager, High Yield
Steven G. Lampe, Principal, Lampe Conway & Co.
Caroline Cooley, Chief Investment Officer, Crestline Investors, Inc.
April 09, 2015
11:30 AM Registration
Noon Lunch and Program
Danielle DiMartino Booth
Senior Financial Analyst & Advisor, Federal Reserve Bank of Dallas
Danielle DiMartino Booth is an Advisor on monetary policy to Dallas Federal Reserve President Richard W. Fisher. She researches, writes and speaks about the intersection and interaction of the economy and the financial markets. Danielle also speaks to audiences nationwide about the origins of the housing and credit crises.
Danielle’s most recent work focuses on the potential ramifications of the record pace of credit issuance and how it has driven equity as well as commercial and residential real estate market valuations. Danielle’s Wall Street background and the advisory role she played during the financial crisis afford her a unique perspective within central banking. Every year, she prepares eight financial markets briefings and policy recommendations which she presents to President Fisher throughout the FOMC cycle.
Before moving to Dallas, Danielle was Vice President at Credit Suisse in New York City where she worked in the fixed income, public equity and private equity markets. Danielle was a College of Business Scholar at the University of Texas at San Antonio, where she earned her BBA. She also holds an MBA in Finance and International Business from the University of Texas at Austin and an MS in Journalism from Columbia University.
Danielle resides in University Park, Texas, is married to John Allen Booth, Sr. and mother to three sons and a daughter. She also serves as an officer on the Board of Management of the Park Cities YMCA.
Peter E. Ehret, CFA
Portfolio Manager, High Yield
Peter heads ERS’ new internal high yield investing effort, which he established in 2013. He developed ERS’ high yield investment process and infrastructure and is underway with a growing portfolio and team. He also contributes to ERS’ outside manager selection process. Prior to ERS, Peter was head of high yield investments and lead portfolio manager at Invesco, Ltd. where he led the turn-around of a struggling team and created a top quintile ten-year performance record. Previously, while at Van Kampen Investments, Peter was director of high yield research and portfolio manager where he helped to re-draw the investment process and was co-portfolio manager for Van Kampen’s high yield funds. His broad experience there also included working with investment grade and municipal securities. Prior to that, Peter was at the Bank of Nova Scotia working in commercial real estate banking. All along the way, Peter has continued to contribute as an analyst generating investment ideas.
Peter earned his M.S. in Real Estate from the University of Wisconsin-Madison and his B.S. in Economics with a minor in Statistics from the University of Minnesota-Twin Cities. His is a CFA charterholder.
Steven G. Lampe
Principal, Lampe Conway & Co.
Mr. Lampe co-founded Lampe, Conway & Co. LLC. in 1999, and provides overall leadership strategy for the Firm and portfolio management for the Funds. Mr. Lampe began his career as a specialist at Spear, Leeds & Kellogg LP. From there he began his distressed investing career after joining First Boston Corp where he pioneered that firm’s foray into distressed convertible bonds. In 1989 Mr. Lampe joined R.D. Smith & Co. and later Smith Management Company, where he met Mr. Conway. In 1998, he and Mr. Conway built an internal distressed investment fund for a large multi-strategy investment manager, and later decided to form Lampe, Conway & Co. Mr. Lampe has focused exclusively on investing in distressed and special situations since 1987. Mr. Lampe holds an M.B.A. degree from Harvard University and a B.A. degree from Middlebury College.
Chief Investment Officer, Crestline’s Diversified Funds
Ms. Cooley is the Chief Investment Officer of Crestline’s Diversified Funds and serves on both the Investment and Executive Committees. Ms. Cooley’s responsibilities include leading the diversified hedge fund investment team and managing portfolios of hedge funds. Ms. Cooley has over 30 years of experience in the investment industry, focusing almost exclusively in the absolute return area. She has significant experience in proprietary trading, as well as hedge fund risk management. Prior to joining Crestline in April 1998, she was a trader and risk manager with Taylor & Company, an investment firm associated with the Bass Family of Fort Worth, TX. Her experience includes trading equity derivatives and fixed income arbitrage in the U.S. and international markets. Additionally, she was responsible for risk management of the various absolute return strategies employed by Taylor & Company, including monitoring and hedging equity, currency and interest rate exposure. Ms. Cooley began her career in the investment industry at Manufacturers Hanover Trust Company in New York and Chicago after receiving her B.A. in Economics from The College of William and Mary in 1983. Ms. Cooley serves on the Advisory Board of Texas Wall Street Women and the Investment Advisory Committee of Texas Employee Retirement System.
Crestline Investors, Inc. is an alternative asset management firm based in Fort Worth with affiliate offices in New York and Toronto. The company, founded in 1997, manages approximately $9.6 billion in assets in absolute return hedge funds of funds, credit and opportunistic investment strategies, private equity restructuring, and hedging and beta overlay strategies.