The Applied Finance Group

The Applied Finance Group
Private
Industry Equity Research
Founded 1995
Headquarters Chicago, Illinois
Key people
 Rafael Resendes, Co-Founder
Dan Obrycki, Co-Founder
Website AFG Economic Margin

The Applied Finance Group (AFG) is a global, institutional equity research firm founded in 1995 by Rafael Resendes and Dan Obrycki.[1][2]

Founders

Rafael Resendes

Main article: Rafael Resendes

Co-founded the Applied Finance Group and is Managing Director for Toreador Research and Trading.[3]

Prior to co-founding AFG, Resendes was a member of the Chicago Board of Trade and served as director of research for HOLT Value Associates. Rafael graduated Phi Beta Kappa from The University of California, Berkeley, with a Bachelor of Science in Finance and Economic Analysis and obtained an MBA from the University of Chicago.[4][5]

Resendes has also contributed his insight to various news outlets such as CNBC, CNN, Fox News, RealClearPolitics.[6][7][8][9][10]

Dan Obrycki

Main article: Dan Obrycki

Prior to co-founding AFG, Obrycki was the Manager of Research for a portfolio consulting firm, HOLT Value Associates. Daniel graduated Summa Cum Laude from the University of Missouri-Rolla with a BS in Geological Engineering and obtained his MBA with a Finance Specialization from the University of Chicago.[11]

Obrycki has also served as an Adjunct Professor at DePaul University in Chicago.[12]

History

In 1995 Rafael Resendes and Daniel Obrycki founded the Applied Finance Group in Chicago, Illinois as an independent research company. AFG sought to build a more sophisticated Value Based Metric to measure a company's true economic profit. With that goal in mind AFG developed its proprietary framework, Economic Margin (EM), to evaluate corporate performance from an economic cash flow perspective.[13][14][15] In 2001, Morningstar, Inc. adopted AFG's Methodology to launch the Morningstar RatingTM for stocks.[16] AFG expanded to its second office in Fresno, California in 2003. Resendes relocated to work as head of the Fresno Office, while Obrycki managed from Chicago.

In 2004, AFG created a large cap model portfolio of stocks called the AFG50. AFG created the AFG50 portfolio to provide Trust Departments and small RIAs a product that could serve as an outsource/research team.[17][18] Later that year AFG partnered with Chief Executive Magazine and Drew Morris, CEO of "Great Numbers!", to launch the Chief Executive/Applied Finance Group Wealth Creation Rankings, a research instrument used to rank companies based on their value and ability to create value.[19] In 2009 AFG began providing research internationally for the first time in the company's history.

Value Expectations

Main article: Value Expectations

AFG launched Value Expectations in 2008, a stock blog and investment newsletter. Value Expectations was created to serve as an outlet covering topics on corporate performance and equity valuation.[20]

References

  1. ↑ http://www.economicmargin.com/content/about
  2. ↑ http://www.economicmargin.com/content/economic-margin
  3. ↑ http://www.trtadvisors.com/ourteam.html#rafaelresendes
  4. ↑ http://www.businessstreetonline.com/news.php?ax=v&n=1&id=2&nid=550
  5. ↑ http://www.moneyshow.com/directory/speaker.asp?speakerid=4F57B150F80E459CABB4031E91B2F4A0
  6. ↑ http://www.cnbc.com/id/15840232?video=987959884
  7. ↑ http://www.cnbc.com/id/27472360/site/14081545/
  8. ↑ http://money.cnn.com/2008/08/18/news/companies/lamonica_railroads.fortune/?postversion=2008081911
  9. ↑ https://www.youtube.com/watch?v=_Y3qihGg1eE
  10. ↑ http://www.realclearmarkets.com/articles/2008/01/time_to_crack_piggy_bank_for_h.html
  11. ↑ http://www.economicmargin.com/content/daniel-obrycki-applied-finance-group-co-founder
  12. ↑ http://www.valueexpectations.com/content/equity-research-blog-and-investment-newsletter
  13. ↑ http://www.12manage.com/methods_afg_economic_margin.html/
  14. ↑ http://findarticles.com/p/articles/mi_qa5377/is_200807/ai_n27997258/
  15. ↑
    • About AFG (EconomicMargin.com)
  16. ↑ http://corporate.morningstar.com/US/asp/subject.aspx?filter=PR3950&xmlfile=174.xml
  17. ↑ http://valueexpectations.com/content/afg-50
  18. ↑ http://www.economicmargin.com/PDF/IndependentResearchtf.pdf
  19. ↑ http://www.chiefexecutive.net/ME2/dirmod.asp?sid=&nm=&type=Publishing&mod=Publications%3A%3AArticle&mid=8F3A7027421841978F18BE895F87F791&tier=4&id=D6D134A273AD4CB6AAE9E1913E50C156
  20. ↑ http://valueexpectations.com/content/equity-research-blog-and-investment-newsletter
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