April 10, 2003
The Pierre Hotel, New York City

Michael T. Porter
Managing Director
Clemente Capital, Inc.
B.A., Columbia College
M.B.A., Columbia University


Michael T. Porter is an established industry expert in the field of investment research. As the Director of Global Research at Clemente Capital, Porter capitalizes on his 23 years of experience within the financial services industry.

Mr. Porter began his career as a securities analyst with Drexel Burnham Lambert, where he covered Swiss banking stocks and closed-end country funds. Afterwards, Porter joined the Salomon Smith Barney team as Managing Director of U.S. Equity Research. For 12 years he served as senior analyst responsible for research coverage of U.S.-listed international closed-end and exchange-traded funds (ETFs). It was here that Porter helped design and manage the first-ever SEC-registered fund of closed-end funds. His industry expertise awarded him a full-length interview in Barron's in 1995.

At Salomon Smith Barney, Porter hosted the "Annual Closed-End Country Funds Conference," featuring outstanding international money managers from around the world. And, in 1990, Institutional Investor magazine named him "Home Run Hitter" for recommending four of the top 10 performing stocks on the New York Stock Exchange in 1989. With frequent speaking engagements before analysts, financial planners and investment groups, Porter is sought out by colleagues to share his knowledge and expertise. He is often quoted by Barron's, Forbes, The Wall Street Journal, The New York Times, Smart Money, The Financial Times, and other national and international publications. He has published chapters for The McGraw-Hill Handbook of American Depository Receipts (1995) and The World's Emerging Stock Markets (Probus, 1992) and is a member of the review board (comparable to a contributing editor title) of the Journal of Indexes. Porter is a member of The Bond Club of New York, the New York Society of Securities Analysts and he is a CFA level I candidate.

Porter earned his MBA in Finance and Accounting, as well as a bachelor's degree in German language and literature, from Columbia University.


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