Research
CapStone Research
Barry M. Sine, CFA, CMT
Director of Research
Senior Media and Communications Analyst
Mr. Sine is the Director of Research of CapStone Investments. He utilizes fundamental, quantitative, economic and technical tools to identify promising investment opportunities. In 2007 he was a #1 ranked analyst in the Wall Street Journal Best on the Street analyst rankings. Sine has also held positions with JP Morgan, Prudential Securities, and Oppenheimer. He is currently a Director of the New York Society of Security Analysts and is a past director of the Market Technicians Association. Sine is a lecturer and sits on the advisory board of the Student Managed Investment Fund at Florida International University. He holds both the Chartered Market Technician (CMT) designation for technical analysis and the Chartered Financial Analyst (CFA) designation for fundamental analysis. Sine holds an MBA in Finance and International Business from New York University's Stern School of Business and a BA in finance and economics from Fairleigh Dickinson University.
Michael Callahan
Senior Industrial Analyst
Mr. Callahan joined CapStone Investments in January 2010. His coverage as a Senior Industrial Analyst includes Aerospace and Defense companies, as well as other industrial markets. Prior to joining CapStone, Mr. Callahan was a buy-side analyst at Dearborn Partners, a Chicago investment firm where he focused on macro analysis, and equity research with a concentration in technology, industrial, and consumer companies. Before arriving on the buy-side, he was a sell-side Associate at William Blair & Company, and focused on specialty retail and restaurants. Mr. Callahan developed an industrial background at leading truck and engine manufacturer Navistar International, where he held several positions including Financial Analyst and Treasury Analyst. Mr. Callahan currently holds a BA degree in Finance from The Ohio State University and holds Series 7, 63, 86, and 87 licenses.
Carter Driscoll, CFA
Senior Clean Technologies and Alternative Energy Analyst
Mr. Driscoll joined CapStone Investments as a Senior Analyst in April 2009. His coverage focuses on alternative energy and clean technologies. Mr. Driscoll most recently was at the Stanford Group where he was a senior analyst covering technology stocks with a focus on communications. Prior to that, he was the Senior Analyst at both IRG Research and FBR & Co., Inc. covering multiple technology sectors. He started his research career in 1997 as a generalist at asset management firm Manning & Napier Advisors covering the technology and traditional alternative energy sectors. He holds the Chartered Financial Analyst (CFA) designation for fundamental analysis, an MBA in Finance and Corporate Accounting from the University of Rochester’s Simon School of Business and a BA in Economics and Spanish from Hamilton College. Mr. Driscoll holds Series 7, 63, 86 and 87 licenses.
Joanne M. Fairechio
Senior Energy and Utility Analyst
Ms. Fairechio joined CapStone Investments in November 2009 from Janney Montgomery Scott where she recently served as Director of Utilities Research. Prior to Janney Montgomery Scott, she was Vice President and Senior Industry Analyst at Citigroup Smith Barney from 1992 to 2005. Ms. Fairechio’s research career began in Merrill Lynch’s Equity Research Department in 1977 where she rose to Assistant Vice President and Senior Industry Analyst covering the Natural Gas Industry. Ms. Fairechio attended Pace University and is a member of the New York Society of Security Analysts, the Wall Street Utility Group, and the American Gas Association, and has been Chairman of the CFA Institute’s Natural Gas Committee for Corporate Reporting. She was part of Institutional Investor’s All Star Natural Gas Team for more than 20 years and has been top ranked by Greenwich Research Associates and Reuters, recognized by the Wall Street Journal’s All Star Analyst Survey for her accuracy of earnings estimates and stock picking ability as well as a Forbes-Starmine Analyst Award winner as a Top Earnings Estimator and Top Stock Picker in Gas Utilities.
Claire Gallacher
Senior Specialty Retail and Consumer Analyst
Ms. Gallacher joined CapStone Investments as a Senior Analyst in August 2009. Her coverage focuses on specialty retail and consumer companies in the sporting goods/footwear sectors. Claire spent six years at Caris & Company where she was a senior analyst covering specialty retail. As a Managing Director at Caris & Company, she was instrumental in expanding research coverage in the retail/consumer group. Prior to that, she spent five years at both Banc of America Securities and PaineWebber covering multiple consumer sectors. Claire has been a top ranked analyst by Starmine and has made appearances on Bloomberg and CNBC. Claire currently holds a BA degree in Economics from University of California Los Angeles and holds Series 7, 63, 86 and 87 licenses.
James Gilman, CFA
Senior Enterprise Software Analyst
James has six years sell-side experience covering the enterprise software sector. He also has worked as a technology analyst following the networking, security, server and storage sectors. Prior to CapStone Investments, James was with Soleil Securities - Cross Research. James is a CFA Charterholder. He has a Bachelor of Engineering from Vanderbilt University. Earlier in his career, James served in the US Navy as a Nuclear Submarine Officer.
Jonathan Kees
Senior Telecom Equipment Analyst
Mr. Kees joined Capstone Investments in September 2009. He has spent approximately the last five years on the sell-side most recently at a research boutique. Prior to that, he was at Bear Stearns as a key member of the U.S. based global telecom equipment team. The team was consistently ranked in the top three by Institutional Investor and ranked in the 2007 WSJ Best on the Street survey. Prior to Bear, he was at Citi Smith Barney in Global Supply Chain research where the team won several internal awards and distinctions. Before equity research, Mr. Kees spent slightly more than 10 years in the telecom industry in various operational roles and functions from systems engineering to product marketing to business development to business analysis at AT&T/Lucent. Mr. Kees holds a BS in Electrical Engineering and BA and Physics. His undergrad was at Washington University in St. Louis. He has an MBA from Columbia University. He holds Series 7, 63, 86 and 87 licenses.
Stas Kiselev
Senior Restaurants Analyst
Stas Kiselev joined Capstone Investments in November 2009. His primary focus is on fundamental research of the Restaurants industry, mainly covering the casual and fine dining space, along with a few quick-service restaurant names. Stas brings buy-side experience to Capstone, as he previously worked as an analyst at a long/short equity hedge fund, Torrey Pines Capital Management. Before Torrey Pines, Stas worked as a research associate at a long-only value oriented investment management company, Brandes Investment Partners, where he focused on numerous global consumer-related industries. Mr. Kiselev graduated from the University of Texas at Austin, with a BBA in Finance and a concentration in Accounting. Stas currently holds the Series 7, 63, 86 and 87 licenses.
John M. Putnam, CFA
Senior Medical Device Analyst
Mr. Putnam joined Capstone Investments in July 2009 having recently left Dawson James Securities where he followed the medical device industry from September 2006. Prior to his tenure at Dawson James, Mr. Putnam was at Stanford Financial Group and a principle and co-founder of Belmont Harbor Capital, a boutique investment research and merchant bank in Chicago, Illinois, established in early 2002. John covers the Medical Devices and Technology industry as he has done for more than 33 years. He was the first analysts on Wall Street to identify angioplasty and Women’s Health as major investment opportunities. During his tenure as a medical device analyst on Wall Street, Mr. Putnam has served in a similar capacity at such firms as Smith Barney, Wellington Management, L.F. Rothschild, Alex Brown & Sons, Adams, Harkness & Hill, and Gruntal. Mr. Putnam holds an MBA from The George Washington University and a BA from Baldwin-Wallace College. He is a Chartered Financial Analyst and a member of the Boston Security Analysts Society and holds Series 7, 63, 86 and 87 licenses.
Jeff Schreiner
Senior Semiconductor Analyst
Mr. Schreiner is the Semiconductor Analyst at Capstone Investments. Mr. Schreiner incorporates fundamental and quantitative research for finding potential investment opportunities. He brings with him his extensive experience in buy-side and sell-side research, as well as his expertise in managing multiple million dollar funds for various firms in the industry. Jeff was selected by Starmine/Wall St. Journal for 2010 Best on the Street Stock Picker Award within Semiconductor sector. Prior to Capstone, Mr. Schreiner was a semiconductor analyst at American Technology Research where he covered specialized semiconductor stocks. Preceeding AmTech, Jeff was Co-Founder/Portfolio Manager at MS Capital Management, LLC, a Phoenix based hedge fund. Jeff earned a BA degree in Business Administration from Ottawa University and holds Series 7, 24, 63, 86 and 87 licenses.
Shebly Seyrafi, CFA
Senior Enterprise Hardware Analyst
Mr. Seyrafi is a Senior Enterprise Hardware Analyst at Capstone Investments. Prior to his appointment at Capstone, Mr. Seyrafi was a Director at Calyon Securities covering IT hardware and before that a Managing Director at Caris & Co. Before that, he was a Senior Analyst at Kaufman Bros. and before that a Director at Merrill Lynch covering Enterprise Storage. While at Merrill Lynch in 2004 and 2005, he was ranked #1 covering the Enterprise Storage industry according to Greenwich Associates. Before Merrill, he was a Vice President at AG Edwards covering IT Hardware and Enterprise Storage and was ranked #2 covering the Enterprise Storage sector. Before AG Edwards, Mr. Seyrafi was a buy-side technology analyst at First Chicago NBD Investment Management. Mr. Seyrafi has an MBA from the Columbia Business School where he graduated Beta Gamma Sigma in 1997. He also holds an MS degree in Physics and a BA in Mathematics/Physics from UCLA. He obtained the Chartered Financial Analyst designation in 1997.
Dan Whalen
Senior Metals and Specialty Materials Analyst
Mr. Whalen joined Capstone Investments in September 2009. With nearly 15 years of industry experience, he has spent approximately the last five years on the sell-side most recently at Dahlman Rose & Co. Prior to that, he was at Bear Stearns as an integral member of a leading metals and mining team. The team was consistently ranked in the top three by Institutional Investor and ranked #1 in 2007. Before transitioning to the sell-side, Mr. Whalen spent several successful years on the buy-side collectively at Harold C. Brown & Co., LLC and Merrill Lynch Investment Managers (now part of BlackRock). The focus of his coverage included the energy, industrials and materials sectors. Whalen holds a BA from Bucknell University where he majored in Economics and minored in Biology. He is a member of the CFA Institute and New York Society of Security Analysts and holds Series 7, 63, 86 and 87 licenses.
Difei Yang, PhD
Senior Biotechnology and Specialty Pharmaceuticals Analyst
Dr. Yang joined Capstone Investments in March 2010 from Alcioun Capital LLC, a New York based hedge fund, where she followed biotech/specialty pharma companies. Prior to equity research, she spent multiple years in the pharmaceutical/biotech industry in various functions from R&D (SpectRx and Kimberly Clark) to marketing (Becton, Dickinson and Company) to business analysis and business development/M&A (Solvay Pharmaceuticals). Altogether, Dr. Yang has 14 years of industry experience, 5 granted US patents, and 8 peer reviewed scientific publications. She has evaluated and advised on hundreds of new business opportunities during her tenure at Solvay Pharmaceuticals. The business opportunities cover the entire spectrum of pre-clinical through phase III development stage product in license, out license, life cycle management, co-development/co-marketing deals and out-right company acquisition. Dr. Yang holds a PhD in Chemistry from the University of California Los Angeles, and B.Sc. in Physics from Peking University, China. She also has an MBA from Georgia State University. She currently holds Series 7, 63, 86 and 87 licenses.