Bruce Berkowitz - Founder, Managing Member and Chief Investment Officer, Fairholme Capital Management

Bruce R. Berkowitz is the Founder, Managing Member and Chief Investment Officer of Fairholme Capital Management and President and a Director of Fairholme Funds, Inc. Mr. Berkowitz is also a Director of The St. Joe Company. Mr. Berkowitz received a Bachelor of Arts in Economics from the University of Massachusetts at Amherst in 1980.

Will Danoff - Portfolio Manager, Fidelity Management & Research Company

Will Danoff is a portfolio manager for Fidelity Management & Research Company (FMRCo.), the investment advisor for Fidelity's family of mutual funds. Fidelity Investments, is a leading provider of investment management, retirement planning, portfolio guidance, brokerage, benefits outsourcing and other financial products and services to more than 20 million individuals, institutions and financial intermediaries. He manages Fidelity Contrafund and Fidelity Advisor New Insights Fund.

Mr. Danoff joined Fidelity as an equity research analyst in 1986. He became portfolio manager of Fidelity Select Retailing Portfolio in 1986 -- a position he held until 1989 -- and served as a portfolio assistant for Fidelity Magellan Fund from 1989 to 1990. Mr. Danoff was appointed manager of Fidelity Contrafund in 1990 when the fund's assets were $300 million. He managed VIP: Contrafund from its inception in January 1995 until October 2007. Mr. Danoff began managing Fidelity Advisor New Insights Fund in August 2003.

Born in 1960, Mr. Danoff received a bachelor of arts degree in history from Harvard University in 1982 and an MBA from The Wharton School at the University of Pennsylvania in 1986.

Cheryl Einhorn - Columbia Business School

Cheryl Strauss Einhorn is a media consultant and an award-winning journalist covering the economy and financial markets. She has had the privilege to work in many different forms of media, most recently writing articles for Chief Executive Magazine and Commentary. For ten years, Cheryl worked as an Editor and Columnist at Barron's, where she won an award naming her the Best Commodities Columnist in the country. During her tenure at Barron's she also appeared daily live on-air for CNBC as an analyst providing insight into the futures markets. Later she worked producing social and consumer investigations for the nationally syndicated show Inside Edition, where she won the 2005 ACE award for Achievement in Consumer Reporting for her segment investigating fraudulent charities. The story led Governor Andrew Cuomo, then New York state Attorney General, to obtain a court injunction on December 15, 2009 ordering the United Homeless Organization to immediately remove its sidewalk donation tables pending the outcome of a civil lawsuit Mr. Cuomo's office filed against the group, calling it "an elaborate sham that does not help the needy." Since 2008, Cheryl has worked as a media consultant to develop National Public Radio's economic and political news coverage for its largest affiliate New York's WNYC radio. Cheryl has also been an adjunct professor at the Columbia University's Graduate School of Journalism teaching business, economic and financial journalism and more recently became an adjunct at the Columbia Business School co-teaching a course in Advanced Investment Research.

Steve Eisman - Senior Portfolio Manager, FrontPoint Financial Services Fund

Steve is portfolio manager of the FrontPoint Financial Services Fund, which began operations in March 2004. The fund invests only in financial companies on a global basis. Mr. Eisman began his career on Wall Street in 1991 as a junior analyst in the research department of Oppenheimer & Co. In 1992, he was promoted to the position of senior financial services analyst, a position he held until the end of 2000. Mr. Eisman's coverage included brokers, asset managers, government agencies, credit cards, auto finance and subprime mortgage companies, and he was ranked as an All-Star analyst by both Institutional Investor and the Wall Street Journal on multiple occasions. In 2001, Mr. Eisman joined Chilton Investment Co., a large U.S. based hedge fund where he was the financial services analyst. Mr. Eisman graduated from the University of Pennsylvania and received a Juris Doctorate from Harvard Law School.

Bruce Greenwald - Professor, Columbia Business School

Bruce currently serves as the Robert Heilbrunn Professor of Finance and Asset Management and the Director of the Heilbrunn Center for Graham & Dodd Investing at Columbia University's Graduate School of Business. He presently teaches Value Investing, Economics of Strategic Behavior, Seminar in Strategy and Industry Analysis, Globalization of Markets, and Strategic Management of Media. He has also taught Corporate Finance and Managerial Economics.

Previously, Bruce taught at Harvard Business School and Wesleyan University. Early in his career, he was a research economist at Bell Laboratories and, for a one-year period beginning in 1987, was the staff economist for the Presidential Task Force on Market Mechanisms (the Brady Task Force).

Bruce has been the recipient of numerous teaching awards including the Columbia University Presidential Teaching Award (1999-2000), the Margaret Chandler Memorial Award for Commitment to Excellence in Teaching (1997 & 2003), the Singhvi Prize (1991-1992, 2002-2003, 2003-2004), and the Dean's prize for course development in the core curriculum.

Bruce is the author or editor of several books including Competition Demystified: A Radically Simplified Approach to Business Strategy (with Judd Kahn, Putnam Penguin 2005), Economics for an Imperfect World: Essays in Honor of Joseph E. Stiglitz (editor with Richard Arnott, et al, MIT Press, 2003), Towards a new Paradigm in Monetary Economics (with Joseph Stiglitz, Cambridge Press, 2003), Value Investing: From Graham to Buffett and Beyond (with Judd Kahn, et al, Wiley, 2001), and Adverse Selection in the Labor Market (Garland Press, 1980).

Bruce has written numerous papers published in journals such as the American Economic Review, Journal of Finance, Rand Journal of Economics, Oxford Economic Papers, Journal of Finance and Accounting, Quarterly Journal of Economics and Journal of Industrial and Corporate Change.

Bruce has received a B.S. and a Ph.D. from the Massachusetts Institute of Technology, and an M.P.A. and MS from Princeton University.

Trevor Gurwich - American Century Investments

Trevor Gurwich is a vice president and portfolio manager for American Century Investments. Mr. Gurwich joined American Century Investments in 1998 and has worked in the financial industry since 1992. Previously, he was a manager for Arthur Andersen in their business consulting group. Mr. Gurwich holds a master's degree in finance and investments from Columbia Business School, a bachelor of arts degree in international relations from the University of Pennsylvania and a bachelor of science degree in economics from the Wharton School of Business. He's also fluent in French and Afrikaans.

R. Glenn Hubbard - Dean, Columbia Business School

Professor Hubbard is a specialist in public finance, managerial information and incentive problems in corporate finance, and financial markets and institutions. He has written more than 90 articles and books on corporate finance, investment decisions, banking, energy economics and public policy, including two textbooks, and has co-authored Healthy, Wealthy, & Wise: Five Steps to a Better Health Care System. In a recent book, Tax Policy and Multinational Corporations, he argues that U.S. tax policy significantly affects financing and investment decisions of multinational corporations. Hubbard has applied his research interests in business (as a consultant on taxation and corporate finance to many corporations), in government (as deputy assistant of the U.S. Treasury Department and as a consultant to the Federal Reserve Board, Federal Reserve Bank of New York and many government agencies) and in academia (in faculty collaboration or visiting appointments at Columbia, University of Chicago and Harvard).

Sarah H. Ketterer - Chief Executive Officer, Portfolio Manager, Co-Founder of Causeway Capital Management

Ms. Ketterer is the co-founder, chief executive officer and a portfolio manager of Los Angeles-based Causeway Capital Management, and a member of the firm's operating committee. She and the team manage $12 billion in international, global, emerging markets and absolute return equity. Prior to the firm's inception in 2001, Ms. Ketterer served as a managing director of the Hotchkis and Wiley division of Merrill Lynch Investment Managers (HW-MLIM) and co-head of the firm's HW-MLIM International and Global Value Equity Team. Ms. Ketterer began her career as an associate with Bankers Trust Company's Merchant Banking Group and its affiliate, BT Securities Company where she evaluated merger, acquisition and restructuring opportunities for the Bank's major corporate clients in the U.S. and overseas. Ms. Ketterer holds a BA in Economics and Political Science from Stanford University and an MBA from the Tuck School, Dartmouth College.

Howard Marks, CFA, CIC - Chairman, Oaktree Capital Management

Since the formation of Oaktree in 1995, Mr. Marks has been responsible for ensuring the firm's adherence to its core investment philosophy, communicating closely with clients concerning products and strategies, and managing the firm. From 1985 until 1995, Mr. Marks led the groups at The TCW Group, Inc. that were responsible for investments in distressed debt, high yield bonds, and convertible securities. He was also Chief Investment Officer for Domestic Fixed Income at TCW and President of TCW Asset Management Company, the largest of the TCW companies. Previously, Mr. Marks was with Citicorp Investment Management for 16 years, where from 1978 to 1985 he was Vice President and senior portfolio manager in charge of convertible and high yield securities. Between 1969 and 1978, he was an equity research analyst and, subsequently, Citicorp's Director of Research. Mr. Marks holds a B.S.Ec. degree cum laude from the Wharton School of the University of Pennsylvania with a major in Finance and an M.B.A. in Accounting and Marketing from the Graduate School of Business of the University of Chicago, where he received the George Hay Brown Prize. He is a CFA charterholder and a Chartered Investment Counselor.

Scott McLellan - Managing Partner, Marble Arch Investments

Prior to co-founding Marble Arch Investments in 2007, Mr. McLellan served as a research analyst for Hound Partners, a long/short hedge fund affiliated with Tiger Management. From 2000 to 2002, Mr. McLellan was an associate at Welsh, Carson, Anderson & Stowe, a private equity firm focused on the information, business services and health care industries. At WCAS, he invested in telecommunications and information services companies. From 1998 to 2000, Mr. McLellan was an analyst in the mergers and acquisitions group at BT Wolfensohn (now a division of Deutsche Bank Securities).

Mr. McLellan earned an M.B.A. from the Kellogg School of Management at Northwestern University in 2004. He received a B.S. in commerce with Distinction from the University of Virginia's McIntire School of Commerce in 1998.

Miguel Nogales - Partner, Generation Investment Management

Miguel Nogales serves as a Senior Portfolio Manager for the Generation Global Equity Fund, with $6bn of assets under management . He is a founding partner of London-based Generation Investment Management, a firm he helped set up in 2004. Since its inception, Generation's investment philosophy has applied a value mindset to owning high quality, sustainable franchises regardless of their country of listing. Prior to Generation, he worked as a portfolio manager for W. P. Stewart & Co in London. He started his career as a research analyst and portfolio manager at Schroder Investment Management. He graduated with a First Class degree in Economics from Cambridge University, where he holds an Honorary Senior Scholarship.

Thomas A. Russo - Partner, Gardner Russo & Gardner

Thomas A. Russo joined Gardner Russo & Gardner as a partner in 1989. Eugene Gardner, Thomas Russo and Eugene Gardner, Jr., as partners, each manage individual separate accounts and share investment approaches and strategies. In addition, Thomas Russo serves as General Partner to Semper Vic partnerships. Mr. Russo oversees more than $3 billion through separately managed accounts and Semper Vic partnerships. Gardner Russo & Gardner is a registered investment adviser under the Investment Advisers Act of 1940, and is not associated with any bank, security dealer or other third party.

Mr. Russo's investment philosophy emphasizes return on invested capital, principally through equity investments. His approach to stock selection stresses two main points: value and price. While these would seem to be obvious key considerations in any manager's approach, it is equally obvious that all too often they are either misjudged or, perhaps more frequently, simply not viewed together.

Mr. Russo looks for companies with strong cash-flow characteristics, where large amounts of "free" cash flow are generated. Portfolio companies tend to have strong balance sheets and a history of producing high rates of return on their assets. The challenge comes in finding these obviously desirable situations at reasonable or bargain prices.

Mr. Russo's investment approach is focused on a small number of industries in which companies have historically proven to be able to generate sustainable amounts of net free cash flow. (These industries typically have included food, beverage, tobacco, and advertising-supported media.) This fairly narrow approach reflects his training and discipline at the Sequoia Fund in New York, where he worked from 1984 to 1988. Mr. Russo tries to limit risk by not paying too large a multiple of a company's net free cash flow in light of prevailing interest rates. He attempts to broaden this otherwise narrow universe by including companies with smaller market capitalizations and companies in similar industries based abroad.

Mr. Russo's goal is one of an absolute return rather than a relative return, and he continues his long-term investment objective of compounding assets between 10 and 20 percent per year without great turnover, thereby realizing a minimum amount of realized gains and net investment income.

Thomas A. Russo is General Partner of Semper Vic Partners, L.P., and Semper Vic Partners (Q.P.), L.P., limited partnerships whose combined investments exceed $500 million, along with overseeing substantially more funds through separate accounts for individuals, trusts, and endowments. He is a graduate of Dartmouth College (B.A., 1977), and Stanford Business and Law Schools (JD/MBA, 1984). Memberships include California Bar Association and Board of Visitors for Stanford Law School. Mr. Russo is a charter member of the Advisory Board for the Heilbrunn Center for Graham & Dodd Investing at Columbia Business School. He is a member of Dartmouth College's President's Leadership Council.

David Samra - Managing Director, Artisan Partners

N. David Samra is a Managing Director of Artisan and portfolio manager for the firm's global value portfolios and lead portfolio manager for the firm's non-U.S. value portfolios. Prior to joining Artisan, Mr. Samra was a portfolio manager and a senior analyst in international equities at Harris Associates LP, from August 1997 through May 2002. Before that, he was a portfolio manager with Montgomery Asset Management, Global Equities Division from June 1993 through August 1997.

Mr. Samra holds a BS in Finance from Bentley College and an MBA from Columbia Business School.

John Spears - Managing Director, Tweedy, Browne Company LLC

John Spears is a Managing Director and Partner of Tweedy, Browne Company LLC and serves on the Firm's investment and management committees. He has been with the Firm for over 36 years.

Founded in 1920 and having served originally as a broker to Benjamin Graham, Warren Buffett and other noted value investors, Tweedy, Browne began managing the assets of its principals in 1959, and those of its outside clients in 1968 utilizing a value-oriented investment process derived from the work of Benjamin Graham. The Firm is considered to be one of the purer modern day practitioners of Graham's intrinsic value based investment methodology, and today manages over $12 billion in domestic, international and global equity portfolios for individuals, institutions, partnerships, off-shore funds and four mutual funds, the Tweedy, Browne Global Value Fund, the Tweedy, Browne Global Value Fund II -- Currency Unhedged, the Tweedy, Browne Value Fund, and the Tweedy, Browne Worldwide High Dividend Yield Value Fund.

Prior to joining Tweedy, Browne in 1974, John had been in the investment business for five years with Berger, Kent Associates; Davic Associates; and Hornblower & Weeks, Hemphill, Noyes. He studied at the Babson Institute of Business Administration, Drexel Institute of Technology and the University of Pennsylvania - The Wharton School.

John has been an occasional speaker on value investing, and has co-authored a number of Tweedy, Browne studies/white papers over the years including What Has Worked In Investing; 10 Ways To Beat An Index; The Road To Wealth; Investing For Higher After-Tax Returns: Lessons for Tax-paying Investors from Warren Buffett, Index Funds, the Best Performing Stocks over 18-year Period, and Our Own Experience; Great 10-year Record = Great Future, Right?; and How Hedging Can Substantially Reduce Foreign Stock Currency Risk. He, together with the other partners of Tweedy, Browne, have virtually their entire liquid net worths invested in portfolios combined with or similar to client portfolios.

William Strong - General Partner - Equinox Partners, L.P.

Upon graduating from Williams College with a BA in Economics in 1971, William Strong worked for five years as an underwriter of municipal bonds for Loeb Rhoades & Co., a Wall Street investment bank. Subsequently, he received his MBA from Harvard Business School in 1979. Mr. Strong's value investing career spans more than 30 years, beginning in 1979 with the value investment firm Ruane Cunniff & Co., manager of the Sequoia fund. Mr. Strong left Ruane Cunniff in 1986 to start his own investment firm, Mason Hill, and in 1994 launched the global long/short hedge fund Equinox Partners. William Strong and his partner Sean Fieler manage Equinox Partners, Kuroto Fund, and Mason Hill Partners consistent with the principles of value investing applied around the globe.