Industry & Services >> Sector Roundtables >> October 13, 2003
STEVEN CHERCOVER joined D.A. Davidson in February 2000 as a
senior research analyst. Prior to joining D.A. Davidson, he
covered the Canadian forest products industry for T.D. Securities
in Canada. His knowledge of the Canadian industry and current
location in Portland, Oregon, give him a unique perspective of
the evolving North American forest products industry. His
coverage universe is comprised of 15 publicly traded companies in
the US and Canada. A native of Toronto, Mr. Chercover holds a
bachelor's degree from the University of Western Ontario, an MBA
from the University of Toronto, and the Chartered Financial
Analyst designation. Profile
DAVID MARTIN is the senior biotechnology analyst at Dundee Securities in
Toronto, Canada. Prior to joining Dundee, he was involved in biotech
research and investment banking at another Canadian firm, and has also
worked for a Big Four accounting firm and a European pharmaceutical
company. He earned an MBA from the Richard Ivey School of Business and a
PhD from the University of Western Ontario, based on work conducted at
the London Cancer Center, the Ontario Cancer Institute and the
University of Kentucky. His research took him to Italy, where he worked
on a year-long scholarship at a cancer institute near Milan. Profile
C. A. 'CHIP' DILLON III, is a Managing Director of Smith Barney
Inc. and the Senior North American Paper and Forest Products
Industry Analyst in the Equity Research Department. He is a
Chartered Financial Analyst and a past President of the Paper and
Forest Products Analysts Group of New York. He consistently ranks
highly in the major polls/surveys of U.S. Paper and Forest
Products Analysts, including a No. 1 ranking on five occasions in
the Institutional Investor poll. In addition, he is the only US
Paper and Forest Products Analyst to be inducted into the Wall
Street Journal Analyst 'Hall of Fame.' Prior to joining Smith
Barney predecessor Salomon Brothers in August 1992, he covered
the industry at First Manhattan Co. and, on the buy side, at J.P.
Morgan Fleming Investment Management. He also has been associated
with Bankers Trust Company. Mr. Dillon earned a BS from the
University of North Carolina in 1980, and an MBA from Columbia
University in 1986. Profile
TWST: Chip, what has gone on in this group from a marketperspective so far this year?
Mr. Dillon: The North American paper stocks, through September
19, had gone up about 15% year to date,