Prior to joining Soleil Securities, Farrell was a Principal at Scotsman, Chairman of Victory Capital Management of Cleveland and Chairman of Victory SBSF Capital Management in New York.
He was a founding partner of Spears, Benzak, Salomon & Farrell, which was acquired by KeyCorp in 1995. Farrell held a variety of positions in his 23 years at SBSF, including Chief Investment Officer, and he served as the portfolio manager on a number of the firm's largest client relationships. He is a regular guest on the cable network CNBC as well as other national print and broadcast media.
Prior to joining SBSF, Farrell spent nine years at Smith Barney, Inc. as a Vice President-Sales.
Farrell graduated from Princeton University in 1969 and received his M.B.A. from the Iona College Graduate School of Business in 1972.
Farrell is a Vice President and member of the Class Board of Governors for Princeton University - Class of 1969, and is co-Chairman of its Special Gifts Committee. He is also on the Academic Advisory Board for the history Department at Princeton. Farrell is actively involved with the Westchester Putnam Special Olympics/Association of Retarded Citizens. He was named to the Hall of Fame at Archbishop Stepinac High School, White Plains, N.Y., in 1998, and was honored by Iona College in 2003 with the Trustees' Award for Lifetime Achievement. Irish American Magazine named him as one of the 50 most influential Irish Americans in Finance in 2003. He is a Trustee of The Buonoconti Fund to Cure Paralysis.
I would like one of our fine, financially knowledgeable, market savvy politicians to define "oil speculator" for me. I know, there is no politician that fits the aforementioned description, but I would like someone to tell me who "they" are.
The price of corn is up 200% the last two years and if you compared a current chart of corn and oil they overlay almost perfectly. With unusual demand from ethanol production, are we to see an extended move up in corn ?
Goldman Sachs spacerturned in another stellar performance under difficult circumstances with an earnings report that far exceeded expectations. Return on equity was 20% when other investment banks are posting losses. 52% of the revenues were from trading operations which are volatile and risky and that's why these stocks trade at what seem to be low price to earnings valuations. My guess is Goldman is picking up business by default as traders can easily justify doing business with Goldman.
I had a visit on Power Lunch today and we talked about the effect on the health care stocks depending on who wins the White House. In general, pharmaceutical companies do well when they have a new product pipeline of innovative products that allow them to command high prices.