Theodore (TP) Enders is a closed-end equity fund analyst at Merrill Lynch, having recently completed two years covering small- and mid-cap value open-end funds for the firm. Before joining Merrill Lynch he spent four years with Morgan Stanley in global corporate strategy, and focused on its institutional investment management business. He holds bachelor's and master's degrees in operations research from Cornell University, and was a surface warfare officer in the U.S. Navy.