Moving away from the fold; Execs saw opportunity in bear market and dared to go it alone.(P&I at 30: The class of '73)(Industry Overview)

Pensions & Investments, October, 2003 by Feinberg, Phyllis

Byline: Phyllis Feinberg Starting a money management firm in 1973 required courage. After all, it was the middle of a bear market and not a good time to be approaching potential clients. Six firms founded in 1973 by investment professionals who had ideas they believed would provide better returns than the stock market are still in business today.

They are: Ashfield & Co. Inc., San Francisco; Cambiar Investors LLC, Denver; Cramer Rosenthal McGlynn LLC, New York; M&I Investment Management Corp., Milwaukee; Madison Investment Advisors, Madison, Wis.; and SSI Investment Management, Beverly Hills, Calif. Two others - Cedar Capital Management, Ann Arbor, Mich., and Daiwa SB Investments (USA) Ltd., New York - are successor companies to firms launched that year, and...

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