Harbinger Research, LLC

Entire Team

Research Team

Client Team

Research Team

Michael A. Bain, CFA, Senior Research Analyst, Director of Research
Special Situations, Healthcare
Mr. Bain has experience conducting both sell-side and buy-side equity research, primarily in the healthcare, industrial equipment and transportation sectors. Most recently, Mr. Bain worked as an equity analyst for Institutional Research Consultants, where he provided customized research services to institutional investors. Prior to that, Mr. Bain worked on the sell-side for Raymond James, where his research focused on companies that provide transportation and logistics services. Mr. Bain entered the securities industry in 1996, when he joined NatWest Securities. At that time, he conducted research primarily on manufacturers of cardiovascular medical devices and industrial equipment. That office was subsequently acquired by HSBC Securities in 1998, and his coverage universe was broadened to include manufacturers of disposable medical supplies. Prior to entering the securities business Mr. Bain served as a Commercial Property Analyst for USAA and as an independent consultant.

Mr. Bain holds a BA in Economics and an MBA in Finance, both from the University of Florida. Additionally, he is a CFA Charterholder and a member of the CFA Institute.

Michael R. Anderegg, CFA, Senior Research Analyst
Information Security and Data Storage
In addition to his position as a Senior Research Analyst at Harbinger Research, Mr. Anderegg is currently President of MRA Research, an independent research and trading systems consulting firm. His most recent research position was Research Analyst covering the Network Security Software and Storage Industries for a sell-side technology research boutique in San Francisco. Mr. Anderegg’s previous employers include leading companies such as IDS-American Express, GE Capital and First American Asset management. His 20 years of financial analysis, management and investment experience includes fixed income trading, treasury management, private placements, equity analysis, and portfolio management.

Mr. Anderegg earned a BA in Economics from Hamline University and an MBA in Finance from the University of Minnesota. He holds the CFA Charter and is a member of the San Francisco and Twin Cities analyst societies. Mr. Anderegg is also a member of the Technical Securities Analysts Association of San Francisco.

Dennis C Fischer, CFA, Senior Research Analyst
Biotech, Special Situations
Mr. Fischer has nearly 20 years of experience on both buy-side and sell-side equity research, primarily as a generalist and in the healthcare sector. Most recently, Mr. Fischer served as a generalist providing institutional research for First Honolulu Securities. Previously, he worked as the sole equity analyst for the Knights of Columbus and their internally invested funds, Senior Analyst and Co-Portfolio Manager in charge of the healthcare sector at the mutual funds of Phoenix Investment Partners, and as an analyst for a hedge fund in New York. Mr. Fischer began his career in the investment industry writing research reports for 13D Research in 1987.

Mr. Fischer earned a BS in Marine Transportation from the U.S. Merchant Marine Academy and an MBA from the University of Connecticut (Beta Gamma Sigma). Additionally, he holds the CFA Charter.

Andrew S. Hua, CFA, Senior Research Analyst
Technology -- Asia
In addition to his position as a Senior Analyst for Harbinger Research, Mr. Hua manages an Asian-focused technology fund for MAP Capital Advisors. Previously, Mr. Hua was a founding member and Director of Investments of Axiom International Investors, an equity management firm which achieved $800 million in assets under management during his tenure, where he managed the development of the research process and directly covered global technology equities. Mr. Hua has also held positions as a Securities Analyst for PIMCO Advisors, and as an associate in Merrill Lynch’s asset management department.

Mr. Hua received an MBA and BSE in Finance, with honors, from the Wharton School at the University of Pennsylvania, as well as an AM and BA with honors in International Studies, also from the University of Pennsylvania. Mr. Hua is a CFA Charterholder and a member of the CFA Institute, the Los Angeles Society of Financial Analysts, and the New York Society of Securities Analysts. He is also fluent in Mandarin.

Stephanie Loiacono, CFA, Senior Research Analyst
Specialty Retail, Financial Institutions
Stephanie Loiacono has nearly 20 years of investment experience, with an emphasis during the last six years on equity research in the small-cap and micro-cap markets. Ms. Loiacono’s industry expertise includes U.S. and non-U.S. financial institutions, and U.S. and non-U.S. retailing companies. She previously served as chief investment officer for a start-up investment management company and as co-founder of a venture capital firm.

In addition to her position as Senior Research Analyst for Harbinger Research, Ms. Loiacono is an international advisor for the U.S. Department of the Treasury, serving at the Ministries of Finance in emerging countries around the world. She also develops and teaches courses on finance and investments.

Ms. Loiacono has a Master’s degree in International Affairs from George Washington University and is a CFA Charterholder. She is a member of the CFA Institute and the Financial Executives Networking Group.

David M. Parr, CFA, Senior Research Analyst
Banks & Financial Institutions
Mr. Parr previously worked as analyst and founding partner covering the small-cap bank and mortgage REIT sectors for FIG Partners, a national boutique research brokerage firm covering the financial sector. During his tenure as a bank analyst, Mr. Parr analyzed over 50 small-cap and micro-cap companies and mutual conversion candidates. Mr. Parr’s previous experience includes his role as analyst for the small-cap value portfolio at Buckhead Capital Management, which ranked in top decile for returns during his tenure; Director of Research for The Volume Investor (now Neovest Trading – a division of JP Morgan), which combined fundamental and technical analysis; and buy-side analyst for the Prudential Insurance Company of America’s real estate investments.

David is a CFA Charterholder and a graduate of the University of North Carolina at Chapel Hill. He is a member of the Atlanta Society of Financial Analysts and the CFA Institute, and is a former CFA exam grader.

Lisa Springer, CFA, Senior Research Analyst
Natural Resources
Ms. Springer brings to the company over 15 years of experience in equity research and investment marketing. Prior to joining Harbinger, Lisa worked as an equity analyst for another independent research provider. She has also held positions as an investor relations officer for a NYSE-listed company and Director of Financial Analysis for a large consulting firm. Ms. Springer earned an MBA from the University of Chicago and holds the CFA Charter.

Client Team

Brian R. Connell, CFA, Chief Executive Officer
Mr. Connell has over 10 years’ experience in the securities industry, as an equity analyst and portfolio manager, and as the founder and CEO of StreetFusion (acquired by CCBN/StreetEvents), a software company serving the institutional investment community. On the sell-side, Mr. Connell served as the technology analyst for Neovest, an Atlanta-based boutique, and as a Senior Analyst - Internet for Preferred Capital Markets, an investment bank based in San Francisco. Mr. Connell has also held the position of Executive Director of Marquis Capital Management, a technology-focused investment management organization.

Mr. Connell holds degrees in Economics and Psychology from Duke University, and is a CFA Charterholder.

Elizabeth A. Frederick, Operations Manager
Ms. Frederick has previously worked in the retail management and database services industries. She graduated magna cum laude with a BA in Business from Cornerstone University and was awarded the Departmental Award for Excellence in Business/Computer Information Systems. At Harbinger Research, Ms. Frederick is responsible for most aspects of the business’ day-to-day operations.