Michael E. Hoffman

Michael E. Hoffman, Director of Research at Wunderlich Securities, Inc. has 22
years of experience as a senior equity research analyst and in research and firm
management with his most recent position as President, Chief Operating Officer
and Director of Research at Caris & Company. Previously he was the Deputy
Director of Research, Head of Fixed Income Research and Group Head of
Diversified Industrial Research at Friedman Billings Ramsey covering the
pollution control, solid waste and homeland security industries. He spent five
years with Salomon Brothers covering pollution control, solid waste and
specialty chemicals, a year with Robertson Stevens rebuilding its pollution
control practice, 10 years with Credit Suisse where he built and managed at team
of 80 in the US, Europe and Asia that created the firms fundamental global
research database still in use today. He has been ranked number two by
Institutional Investor, Greenwich Associates and Reuters in pollution control.
He has a BSE degree from Widener University and an MBA degree from the Johnson
School at Cornell University.