Research Reports
Investment Professionals



Paul Abel
Senior Portfolio Manager

Paul joined the Firm in 1999 and currently serves as Portfolio Manager to The Medical Fund and various other private funds.  Paul’s primary duties include research and analysis of developing scientific technologies and innovations in the medical and bio-pharmaceutical industries.  Prior to joining Kinetics, Paul was employed by Brookhaven National Laboratories, from 1989 through 1999, where he researched, developed and implemented technical and scientific programs and systems in the areas of nuclear physics, computer programming and industrial design. During that time, Paul also provided freelance writing services for the Academic Science and News Review, reporting and offering insight on a myriad of issues and developments in the fields of science and technology.  Paul received a BS in Physics from SUNY Stony Brook and holds a Masters Degree in Mechanical/Nuclear Engineering from Manhattan College.


Rich Begun
Senior Portfolio Manager

Rich joined the Firm in 2012 and currently serves as a Senior Portfolio Manager in the Private Client Group managing custom client accounts.  Previously, he was a Senior Portfolio Manager and Senior Vice President at Olstein Capital and a Principal and Global Portfolio Manager at Clay Finlay. Rich also held positions as a Director and Portfolio Manager at Orbitex, and as a Vice President and Portfolio Manager at the Bank of New York.  In addition to his portfolio management background, he has also served as a senior research analyst, covering financials, energy, industrials and consumer services.  Rich holds a BS in Economics from Binghamton University, an MA in Economics from Brooklyn College and an MBA from Baruch College, Zicklin School of Business.


Thérèse Byars
Research Analyst

Thérèse joined the Firm in 2006 and is responsible for supporting the Firm’s research team, primarily working with the CIO and President.  She also serves as Corporate Secretary for FRMO Corp.  Prior to joining the Firm, she was a professional violinist and private teacher in New York City.  Thérèse attended the Hartt School of Music and received an MS (magna cum laude) in Economics from Columbia University.


Ryan Casey, CFA®
Research Analyst

Ryan joined the Firm in 2011 and is responsible for authoring certain of the Firm’s proprietary research reports.  He has been involved in writing various research reports since 2008, when he was a senior analyst with Institutional Research Group. Ryan is an experienced equity research analyst, and was previously a senior analyst with Bear Stearns. He received a BS in Electrical Engineering from the University of Michigan, an MBA from New York University and is a CFA® charter holder.


James Davolos
Portfolio Manager, Research Analyst

James joined the Firm in 2005 and currently serves as Co-Portfolio Manager for The Internet Fund as well as several private funds and institutional separate accounts.  He began his investment career with the Firm in 2005, as a member of the trading desk and transitioned to the investment team in December 2006. James began his tenure on the investment team as a junior analyst covering investment and research opportunities for various strategies managed by the Firm. James received a BBA in Finance from Loyola University in Maryland where he was a member of the Sellinger Scholars business honors program, and a MBA from New York University. 


Matthew Houk
Portfolio Manager, Research Analyst

Matt joined the Firm in 2008 and has responsibilities in both Research and Portfolio Management. Matt is a member of the Investment Committee and has responsibilities in the identification, analysis and monitoring of certain investment opportunities for the Firm. He is also a Co-Portfolio Manager for several registered investment companies including the Small Cap Opportunities Fund, the Multi-Disciplinary Income Fund, the Alternative Income Fund as well as the Virtus Wealth Masters Fund and the Virtus International Wealth Masters Fund, which are sub-advised by Horizon Asset Management LLC.  Previously, Matt was an Associate with Goldman, Sachs & Co. He received a BA in Economics and Political Science from Yale University.


Utako Kojima, CFA®
Portfolio Analyst

Utako joined the Firm in 2010 as a Portfolio Analyst, primarily focusing on the Firm’s Asia Strategy.  Prior to this, Utako was an equity analyst at AS Hirota Capital Management, LLC. Her experience includes consulting in the Valuation Division at Shin-Nihon Ernst & Young Transaction Advisory Services, Tokyo, Japan. Previously, she served in the International Products Client Service and Sales Operation group at Deutsche Securities Limited, Tokyo, Japan managing post transaction processes and client services.  Utako received a BA in Political Science from Keio University, Tokyo, Japan, and is a CFA charter holder.


John Meditz
Senior Portfolio Manager, Co-Founder

John is a co-founder of the Firm and manages customized portfolios for a number of Horizon Kinetics’ private clients. Previously, John was a Senior Portfolio Manager at Bankers Trust Company in the Private Banking Division and a Senior Member of the Trust & Estate Investment Committee. John is also a Board Member/Trustee for several not-for-profit organizations. He received a BA from Fairfield University and an MBA from the Rutgers University Graduate School of Management.


Eric Sites
Portfolio Manager, Research Analyst

Eric joined the Firm in 2004 and is responsible for conducting and authoring research for the Firm. In particular, Eric co-authors the Stahl Report, which identifies opportunities in the large capitalization arena. He is also a Portfolio Manager for several private funds, and serves on the investment team for certain of the registered investment companies managed by the Firm. He received a BA from Southern Illinois University in 2000 and an MA from Columbia University, Teachers College in 2002.


Salvator Tiano, CFA®
Research Analyst

Salvator joined the firm in 2013 as a Research Analyst who is focused primarily on global spin-offs. Previously, Salvator worked as an Investment Banking Analyst in the Shipping Group of Chatsworth Securities, where he applied his knowledge of the Greek maritime industry. Salvator has also held internships with the Cyprus Popular Bank and EFG Eurobank Equities. Salvator has a BS in Management Science and Technology from Athens University of Economics and Business and a Masters in Finance from Ohio State University, where he was a Weidler Scholar. He is originally from Greece and has served in the Hellenic Army.  Salvator is a CFA® charter holder.


Fredrik Tjernstrom, CFA®
Portfolio Manager, Research Analyst

Fredrik joined the Firm in 1998 and has responsibilities in both portfolio management and research. He is a Co-Portfolio Manager for several private funds and institutional separate accounts, and authors research reports produced by the Firm.  Previously, he was the Director of Research for Brokerage Research Services, an independent research provider which he co-founded. Fredrik has a BSc in Electrical Engineering from Växjö University, Sweden, an MBA with a concentration in Finance and an MSc in Information Systems from Hawaii Pacific University. He also attended Harvard University for parts of his graduate work. Fredrik is a CFA® charter holder. 


Steven Tuen, CFA®
Portfolio Manager, Research Analyst

Steven joined the Firm in 1996 and has responsibilities in both portfolio management and research.  He is a Co-Portfolio Manager for the Global Fund and is responsible for conducting and authoring research. Steven’s research responsibilities include coverage of equity and fixed income securities, with particular emphasis on high yield securities.  Previously, Steven spent seven years with Bankers Trust Company as a Portfolio Manager in the Private Client Group, serving high net worth individual and trust accounts. He received a Bachelors of Business Administration from Baruch College – City University of New York. Steven is a CFA® charter holder and a member of the CFA Institute as well as the New York Society of Security Analysts.


Aya Hirota Weissman, CFA®
Senior Portfolio Manager, Director of Asia Strategy

Aya joined the firm in 2010, as a Co-Portfolio Manager for the Asia Strategy.  With over 30 years of investment experience, Aya was previously a founder and Chief Investment Officer of AS Hirota Capital Management, LLC.  Prior to that, her experiences included acting as a portfolio manager specializing in Japanese securities for Kingdon Capital Management, LLC, a New York–based hedge fund; two years as a partner and Portfolio Manager of Feirstein Hirota Japan Partners, a Japanese long/short hedge fund; and 12 years at Salomon Smith Barney Asset Management, as a Managing Director and Senior Portfolio manager in the US value equity group where she was a founding member of the large cap value equity group, with responsibility for approximately $2 billion in assets. She also worked as a securities analyst covering global technology and consumer sectors at Equitable Capital Management. Aya is a director of SBI Holdings, Inc. in Japan. Aya received an MBA from the International Institute for Management Development (IMD) in Lausanne, Switzerland and a BA in Liberal Arts from International Christian University in Tokyo, Japan. She also studied at Chung Chi College at the Chinese University of Hong Kong, as a Japanese Ministry of Education Scholar. Aya is a CFA® charter holder and Co-Vice Chairman of the Board of Friends Without A Border.


© Horizon Kinetics LLC 2015