The Applied Finance Group
| Company type | Private |
|---|---|
| Industry | Equity Research |
| Founded | 1995 |
| Headquarters | Chicago, Illinois |
Key people | Rafael Resendes, Co-Founder Dan Obrycki, Co-Founder |
| Website | AFG Economic Margin |
The Applied Finance Group (AFG) is a global, institutional equity research firm founded in 1995 by Rafael Resendes and Dan Obrycki.[1][2]
Founders[edit]
Rafael Resendes
Co-founded the Applied Finance Group and is Managing Director for Toreador Research and Trading.[3]
Prior to co-founding AFG, Resendes was a member of the Chicago Board of Trade and served as director of research for HOLT Value Associates. Rafael graduated Phi Beta Kappa from The University of California, Berkeley, with a Bachelor of Science in Finance and Economic Analysis and obtained an MBA from the University of Chicago.[4][5]
Resendes has also contributed his insight to various news outlets such as CNBC, CNN, Fox News, RealClearPolitics.[6][7][8][9][10]
Dan Obrycki
Prior to co-founding AFG, Obrycki was the manager of research for a portfolio consulting firm, HOLT Value Associates. Daniel graduated summa cum laude from the University of Missouri-Rolla with a BS in geological engineering and obtained his MBA with a finance specialization from the University of Chicago.[11]
Obrycki has also served as an adjunct professor at DePaul University in Chicago.[12]
History[edit]
In 1995 Rafael Resendes and Daniel Obrycki founded the Applied Finance Group in Chicago, Illinois as an independent research company. AFG sought to build a more sophisticated Value Based Metric to measure a company's true economic profit. With that goal in mind, AFG developed its proprietary framework, Economic Margin (EM), to evaluate corporate performance from an economic cash flow perspective.[13][14][15] In 2001, Morningstar, Inc. adopted AFG's Methodology to launch the Morningstar Rating for stocks.[16] AFG expanded to its second office in Fresno, California in 2003. Resendes relocated to work as head of the Fresno Office, while Obrycki managed from Chicago.
In 2004, AFG created a large cap model portfolio of stocks called the AFG50. AFG created the AFG50 portfolio to provide Trust Departments and small RIAs a product that could serve as an outsource/research team.[17][18] Later that year AFG partnered with Chief Executive Magazine and Drew Morris, CEO of "Great Numbers!", to launch the Chief Executive/Applied Finance Group Wealth Creation Rankings, a research instrument used to rank companies based on their value and ability to create value.[19] In 2009 AFG began providing research internationally for the first time in the company's history.
Value Expectations[edit]
AFG launched Value Expectations in 2008, a stock blog and investment newsletter. Value Expectations was created to serve as an outlet covering topics on corporate performance and equity valuation.[20]
References[edit]
- ^ "About the Applied Finance Group".
- ^ "Economic Margin".
- ^ "Toreador Research & Trading". Archived from the original on 2009-10-15. Retrieved 2009-06-29.
- ^ "Business Street fresno". Archived from the original on 2011-07-08. Retrieved 2009-09-22.
- ^ "MoneyShow.com Speaker Page". Archived from the original on 2011-07-14. Retrieved 2009-09-22.
- ^ "Energy & Consumer Plays". CNBC. 7 January 2009.
- ^ "CNBC Stock Blog — Long Buys - CNBC". CNBC. Archived from the original on 2011-06-12. Retrieved 2009-06-30.
- ^ "All aboard with railroad stocks - Aug. 19, 2008". Archived from the original on 2009-05-19. Retrieved 2009-06-30.
- ^ Archived at Ghostarchive and the Wayback Machine: Rafael Resendes on Fox Bulls and Bears. YouTube.
- ^ "Time to Crack Piggy Bank for HOG? | RealClearMarkets".
- ^ "Daniel Obrycki - Applied Finance Group Co-Founder | Global, Independent, Institutional Equity Research". Archived from the original on 2011-07-10. Retrieved 2009-09-15.
- ^ "Value Expectations – by the Applied Finance Group".
- ^ "Economic Margin Knowledge Center and Forum – 12manage".
- ^ "CBSi". FindArticles.com. Retrieved 2022-02-19.
- ^ *[1] About AFG (EconomicMargin.com)
- ^ "Morningstar, Inc".
- ^ "AFG 50 vs. S&P 500 ETF (2004–2018)".
- ^ "AFG the Applied Finance Group" (PDF).
- ^ "CEO Wealth Creators… and Destroyers | Articles | Chief Executive - the magazine for the Chief Executive Officer". Archived from the original on 2008-12-23. Retrieved 2009-06-29.
- ^ "Equity Research Blog and Investment Newsletter | Value Expectations: Stock Research, Investment Newsletter, Global Equity Research". Archived from the original on 2009-07-06. Retrieved 2009-06-29.