Natural Resources >> Sector Roundtables >> February 8, 1999
SANFORD L. MARGOSHES is a Senior Vice President at Loeb Partners
Corporation. Previously, he was associated with Shearson Lehman, Lehman
Brothers, Chief Economist-Iranian Oil Operating Companies, Mobil, and
Shell Oil. Dr. Margoshes earned his Bachelor's degree from Princeton
University, his MBA from Columbia Graduate School of Business, and his
Ph.D. in Economics from New York University School of Business. He is a
permanent member of the Board of the National Petroleum Investment
Analysts and has contributed several articles to the Financial Analysts
Journal. He has also appeared on the McNeil Lehrer News Hour and has
testified before Congress. Dr. Margoshes is married, has three
children, and includes walking, painting, and travel among his personal
interests. Profile
MICHAEL C. YOUNG is a Managing Director at Gerard Klauer Mattison and is
a senior member of the GKM Energy Group working in the firm's Boston
office and is responsible for the analysis of the oil and gas industry.
Prior to joining the firm in 2001, Mr. Young was a Managing Director and
Senior Energy Analyst at Deutsche Bank for five years. Between 1987 and
1996, he was a Managing Director and the Senior Energy Analyst at Smith
Barney, Inc. Mr. Young began his career on Wall Street in 1985 in New
York, where he worked in the energy research group at Salomon Brothers,
Inc. In 2000, he was ranked seventh among oil analysts in a Reuters
survey of the top 100 fund managers in the US. Mr. Young also ranked
fifth in a Wall Street Journal calculation of stock-picking performance
for his sector. A CFA, he is also a member of the National Association
of Petroleum Investment Analysts and the Petroleum Analyst Group of
Boston. Mr. Young is a graduate of Dartmouth College, where he received
a BA in Economics and Governement. Profile
JOHN B. PARRY is a Vice President, Senior Equity Analyst at John S.
Herold, Inc. Mr. Parry's research domain includes many of the
international integrated companies, domestic refiners, integrated
pipelines and certain diversified energy companies. He is also co-editor
of the Herold Energy Investment Outlook. Prior to joining the firm in
1990, Mr. Parry had 20 years of experience in equity analysis with firms
such as J. & W. Seligman, McLeod Young Weir, and Copeland, Wickersham,
Wiley & Co. He earned a BS in Chemical Engineering and an MS in
Industrial Management at Polytechnic Institute of Brooklyn. Mr. Parry is
a member of the National Association of Petroleum Investment Analysts,
the New York Society of Security Analysts and the Oil Analysts Group of
New York. Profile
ALVIN D. SILBER is the Energy Research Analyst at Herzog, Heine, Geduld,
Inc. Previously, he was associated with Kidder, Peabody & Co., Dean
Witter, and Mobil, Inc. Mr. Silber received his Bachelor's degree in
Economics from New York University, as well as his Master's degree and a
Doctorate in Chemical Engineering. He is member of the National
Petroleum Investment Analysts and the NYSSA. Profile
TWST: John, what drove the major integrated oil stocks in 1998, and howdoes the performance compare with stocks in other sectors of energy?
Mr. Parry: The bigger international market cap