Synopsis
Nearly every day, an individual investor will approach his or her financial adviser for advice on a nontraditional "deal," delivering a prospectus, proxy statement, offering memorandum, or even term sheets. The advisers unenviable task is to sift through these massive documents to get the facts: which parties are taking which risks and receiving which benefits. Many times, these are not polished IPO prospectuses offered through brokers, but are more obscure investments that might contain contractual preferences for promoters, insiders, agents, or lenders. Such preferences can adversely affect the returns to an investor, even if the venture is wildly successful. This book is a reference tool designed to assist financial planners, financial consultants, licensed brokers, accountants, tax and estate attorneys, and other financial advisers in evaluating nontraditional investment materials, versus more traditional texts that are aimed at aiding professionals in drafting investment materials. It is also a valuable guide for investors themselves, who are seeking to enhance their portfolios by investing in nontraditional "deals," either private or public.
About the Author
Thomas Robinson is an associate professor of accounting and director of the master of professional accounting program at the University of Miami. He also is managing director of Robinson, Desmond, and Zerner, a Florida investment advisory firm. He has a B.A. in economics from the University of Pennsylvania and a Masters and Ph.D. from Case Western Reserve University. He is a Certified Public Accountatn, CFP certificant, and CFA charterholder. Robinson won several teaching awards, publishes regularly in academic and professional journals, and is associate editor of Research in Accounting Regulation. He is a co-author of Analysis of Equity Investments: Valuation published by the CFA Institute, Financial Statement Analysis: A Global Perspective published by Prentice Hall, and Tools and Techniques of Investment Planning published by National Underwriter. David Schulte is a co-founder and managing director of Tortoise Capital Advisors, an investment advisory firm with approximately $2 billion under management. Schulte has completed acquisition and financing projects as a principal, investment banker, or attorney for growth companies in the transportation, manufacturing, retail and wervice industries. Schulte is a CFP and CPA. He holds a B.S. in business administration from Drake University and a J.D. from the University of Iowa (member of the Missouri Bar Association). Schulte is also a general partner and investment committee member for private equity and meazzanine funds in Kansas City and Little Rock. Howard Marmorstein is an associate professor of marketing at the University of Miami where he teaches marketing management and consumer behavior. He won their Professor of the Year award in 2003. He received both a B.S. in economics and an MBA from the Wharton School of the University of Pennsylvania. He received his Ph.D. from the University of Florida. He has also been an investment adviser for more than ten years. His research on consumer decision making has won two n
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