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Andrew T. Gillies is Director of Communications at the Center for Audit Quality, an affiliate of the American Institute of CPAs, in Washington, DC. Based in Washington since 2002, he has also worked in editorial and communications roles at the Investment Company Institute, the World Bank, Forbes, and Vault.com. His policy-themed writing has focused on aerospace and defense, energy and environment, transportation, and financial services.

Wednesday, June 02, 2004

Picking Stocks By Committee

As chief U.S. investment strategist at Toronto-based CIBC World Markets, the investment banking and brokerage arm of one of Canada's largest financial services firms, it's up to Subodh Kumar to divine the market's direction and which sectors are likely to lead the way. Also among his duties: boiling down hundreds of stock recommendations from the 100 equity analysts employed by CIBC into a more manageable list of 50 or so top picks.

Kumar doesn't do the latter job alone. He is joined by five colleagues on a committee that meets each month to manage a list known as the Special Research Series, or SRS. Its mission is to identify timely, undervalued investment ideas from among the stocks rated "sector outperform" by CIBC analysts.

Full story at Forbes.com