PRESS-NEWS.org - Press Release Distribution
PRESS RELEASES DISTRIBUTION

Dreman Value Management Announces CIO Succession Plan

David Dreman, Pioneer In Contrarian Investing, Transitions Executive Role To Industry Veteran Cliff Hoover

2010-09-23
JERSEY CITY, NJ, September 23, 2010 (Press-News.org) David Dreman, Chairman and Chief Investment Officer of Dreman Value Management L.L.C., a leading contrarian value asset management company, today announced the firm has finalized its succession plan for the Chief Investment Officer position.

E. Clifton Hoover, who joined Dreman in 2006 as co-Chief Investment Officer, co-Director of Research, Portfolio Manager, and Managing Director, will assume the role of Chief Investment Officer from Mr. Dreman effective October 31.

Mr. Dreman, who founded Dreman Value Management, Inc. in 1977, will continue as company Chairman, a member of the investment Committee, and manager of the Dreman High Opportunity Fund and the Dreman Market Overreaction Fund. He will continue directing the firm's Quantitative Research process as well.

Mr. Dreman's name is synonymous with contrarian value investing strategies, and his book, Contrarian Investment Strategy: The Psychology of Stock Market Success (1980), is an investment classic. In addition to his ongoing responsibilities with the company, he is the senior columnist for Forbes Magazine, co-editor of The Journal of Behavioral Finance, and is working on his fifth investing book. Mr. Dreman is also a Director of the IFREE Foundation, whose founder Vernon Smith was awarded the Nobel Prize in Economics in 2002.

"This succession plan has been several years in development," said Mr. Dreman, "and I couldn't be more pleased with the outcome. Cliff has already made an important mark on Dreman Value Management, and I have every reason to believe he'll continue to build on the sound investment principles we've applied at this company for more than three decades."

Mr. Hoover brings over 25 years of experience in the investment management industry to his role and, similar to Mr. Dreman, built his career on the low P/E approach to investing. Prior to joining Dreman, Mr. Hoover was a Managing Director and Portfolio Manager at NFJ Investment Group where he managed a Dividend Value portfolio and Small Cap portfolio. He graduated from Texas Tech University with his Bachelor of Business Administration degree in Finance and returned there to complete a Master's degree in Finance.

In addition, Mark Roach, who joined Dreman in 2006 with Mr. Hoover, will assume an expanded role on the Dreman investment team. Mr. Roach has over 14 years of industry experience over which he has developed and implemented an investment approach that is similar to Dreman's Contrarian Value Philosophy. He is responsible for management of all the firm's Small-, Mid-, and Small/Mid Cap products.

Dreman, Hoover, and Roach are part of the Executive Committee responsible for day-to-day oversight of the firm.

"David Dreman has taken a very thoughtful and careful approach to this transition, and I am very excited at the opportunity that lies before us," said Mr. Hoover. "We have a great value legacy on which to build best-in-class value product, and I'm confident that with Mark and this great investment team we'll take it to the next level."

As part of the transition, Mr. Hoover and Mr. Roach will immediately assume 25 percent ownership of Dreman Value Management, with their share potentially increasing to 45 percent over the next eight years. Other employees also participate in company ownership.

Dreman's unique Contrarian Value Philosophy has delivered superior long-term investment performance to investors for over 30 years. The strategy includes taking a low P/E approach to finding value, exploiting market overreactions, and practicing discipline and consistency in applying the Dreman investment style.
Today, Dreman offers a broad spectrum of value-oriented investment options to institutional clients, pension funds, foundations and endowments, and high-net-worth individuals, and participates in a number of separately managed account programs. The investment team, which adheres to the contrarian philosophy and sound investment principles that David Dreman has applied since 1977, manages five publicly-offered mutual funds:

• Dreman Contrarian Market Overreaction Fund (DRQLX),
• Dreman High Opportunity Fund (DRLVX),
• Dreman Contrarian Mid-Cap Value Fund (DRMVX),
• Dreman Contrarian Small-Cap Value Fund (DRSVX), and
• Dreman Contrarian International Value Fund DRIVX.

Dreman also serves as a sub-advisor to a number of leading open-end mutual fund and variable annuity platforms.

"We're 100 percent employee-owned, and in this environment that gives us an edge over the firms that have sold to the mega-conglomerates," said Hoover. "We control our destiny and can move quickly to adjust to rapidly-changing market conditions."

Mr. Dreman is the author of several books, including Psychology and the Stock Market (1977), and his best-selling Contrarian Investment Strategies: The Next Generation (1998). Articles discussing the success of Mr. Dreman's investment methodologies have appeared in national publications such as Forbes, Barron's, Institutional Investor, The Wall Street Journal, The New York Times, Newsweek, Money, and Fortune. His research findings have also been published in The Financial Analysts Journal, The Journal of Investing, and The Journal of Behavioral Finance.

For more information on Dreman Value Management please visit http://www.dreman.com.

About Dreman Value Management
Dreman Value Management is one of the pioneers of contrarian-value investing, an investment philosophy based on a disciplined approach of selecting stocks with a low price-to-earnings ratio. The firm seeks to be the world's best value manager offering a variety of equity investment options based on the firm's core competency of contrarian value investing. Dreman provides six value strategies, all of which invest in undervalued companies that exhibit strong fundamentals, above-market dividend yields, and historic earnings growth. The investment team is responsible for approximately $5 billion in assets under management for its five publicly-offered mutual funds and a variety of institutional, sub-advisory, separately managed, and high-net-worth clients.

Contact:
Morrison Shafroth
mshafroth@csg-pr.com
CSG|PR
(720) 470-3653


ELSE PRESS RELEASES FROM THIS DATE:

Medical Lighting Systems Announces New Line of MRI-Safe LED Visual Therapy Illuminators

2010-09-23
Medical Lighting Systems (MLS), a leading provider of LED illumination solutions for the Healthcare industry, today announced the launch of its MRI-safe line of LED Visual Therapy illuminators. The Focal-Point and Serene-Vu LED-based graphic illuminators are free from electromagnetic interference (EMI) and radio frequency interference (RFI), making them well suited for use in MRI suites, surgical areas, recovery rooms, and other medical applications. Focal-Point Visual Therapy Illuminators are designed to backlight graphic images in ceilings with a unique housing that ...

BHDP Architecture Brings Internationally Renowned Architect/Interior Designer

2010-09-23
Internationally renowned architect Gerard "Guy" F.X. Geier, FAIA, FIIDA, LEED, senior partner at FXFOWLE Architects, will share the case study of an innovative new integrated design process on Wednesday, October 6 at 5:30 p.m. in the Jarson-Kaplan Theater of the Aronoff Center for the Arts. Geier, an architect and interior designer with more than 30 years of experience in the design and management of corporate and institutional projects, leads the FXFOWLE Interiors practice. A strong proponent of the value design plays in creating a healthy and productive workplace, ...

Celerant Technology Receives Perfect Score for Retail/POS Software Review

2010-09-23
Celerant Technology, a leader in the retail software industry, was included in the CPA Advisor's 2010 Retail/POS Review for the second year in a row. This year the CPA Advisor focused on specific features and functionality that are important for maintaining a successful retail business. Celerant Command Retail received top scores in all areas. "It is an honor to again be included in the CPA Advisor POS Review and to have received such outstanding scores for Command Retail," stated Ian Goldman, Celerant President and CEO. "In this increasingly competitive market, we strive ...

Economically Optimistic Gen-Y Adults are Essential to Nation's Recovery, reports Packaged Facts

2010-09-23
With an aggregate income approaching $1 trillion, the adults of the Millennial Generation are expected to play an essential role in the recovery of the American economy and consequently offer significant opportunities to marketers of consumer goods and services, according to survey data published in "Millennials in the U.S.: Trends and Opportunities Surrounding Gen-Y Adults" by market research publisher Packaged Facts. Though hit harder than any other age demographic during the recession due to pay cuts and rampant unemployment, Millennials remain optimistic about the ...

Live Original & Local Music comes to Rochester Mills Beer Co. Thursday Nights The Mills Greenhorn Music Night - Thursdays 9-12, Live Music - No Cover

2010-09-23
For years Rochester Mills Beer Co. has been known as one of the best venues in Oakland County for food, friends and beer as well as a great place to catch live bands with no cover charge on the weekends. Now they are expanding their entertainment offerings to Thursday Nights with live, original local music. Presented by Lazy Daze Records, The Mills Greenhorn Music Night is a great opportunity to catch three to four up and coming artists perform in a fun, intimate setting. Enjoy Happy Hour prices 4 PM - close, and $6 growler refills. Following in the vain of American ...

Room It Up CEO Appoints new International Sales Manager

2010-09-23
Room It Up CEO Jamie Chauss has appointed Alexandra Chauss to serve as the new head of the company's International Sales Department. Effective immediately Alexandra will be working with all international distributors and large international retailers for the brand. Room It Up sees the international market as a growing one for the brand and over the past year has expanded it's scope to include partnerships with distributors in countries including: UK; Japan; Canada; Colombia; Mexico; Singapore; Hong Kong and China. Any international distributors interested in distributing ...

Dads Team to Unveil Best Dad-Endorsed Products for Family

2010-09-23
What do two frogs, a baseball bat, cloth diapers and fresh drinking water all have in common? They're all the most recent winners of the Mr. Dad Seal of Approval and GreatDad Recommends awards. Trusted by some of the toy world's biggest brands including Lego, Haba USA, and the Magic Schoolbus Series, the combined awards recognize companies whose products and services help strengthen and empower families, and help fathers create memorable, enriching experiences with their children. "The Mr. Dad Seal of Approval and GreatDad Recommends awards recognize companies that ...

Producer Uriel "Frenchie" Kadouch Starts Light The World Music Production Company

2010-09-23
Uriel "Frenchie" Kadouch, music and business mogul, has started his own production company, "Light the World Music", with a visionary team. His concept is simple, focusing on new and established artists that he knows share an idealistic view on music, quality beats, and well-written lyrics. Kadouch describes himself as " the kind of producer who doesn't just work with any artist; I like to pick the artist I work with... I want to be a fan of their art, I have to believe in what I am asked to be apart of, I like to work with true artist who understand the power of music ...

Tricoci University Offers Three Cosmetology Scholarships via Facebook Contest

2010-09-23
Tricoci University of Beauty Culture (TUBC) recently launched a Facebook contest that will award three $2,000 scholarships to potential cosmetology students. The 'I Am Tricoci' contest, which ends at 12:00 PM EDT on November 1, 2010, requires student hopefuls to visit one of three TUBC campuses (Peoria, 602 W. Glen Ave.; Glendale Heights, 530 North Ave.; or Libertyville, 751 East Park Ave.). At each location, the contestant will be able to wear a Tricoci University smock and pose as if he or she were already a Tricoci University student cutting hair. When contestants ...

Kengin Consulting Inc Releases NewfoundlandFUN Lite & Deluxe for iPhone. Carry a piece of the island in your pocket!

2010-09-23
Announcing that Kengin Consulting Inc., a mobile development consulting firm, has launched a new application for iPhone, iPad, and iPod Touch users called NewfoundlandFUN. This application is available for consumers in two versions, a Lite version and a Deluxe version. The Lite version offers users a sampling of what the Deluxe version contains, giving users the option to upgrade to the Deluxe version at anytime for significantly more content, photos, and more. NewfoundlandFUN provides visitors to Newfoundland, or people simply looking to learn more about it's unique ...

LAST 30 PRESS RELEASES:

Statins associated with decreased risk for CVD and death, even in very old adults

Climate change is moving tree populations away from the soil fungi that sustain them

Secrets of sargassum: Scientists advance knowledge of seaweed causing chaos in the Caribbean and West Africa

Bioinformatics approach could help optimize soldiers’ training for improved readiness and recovery

Earth scientists describe a new kind of volcanic eruption

Warmer wetter climate predicted to bring societal and ecological impact to the Tibetan Plateau

Feeding infants peanut products protects against allergy into adolescence

Who will like beetle skewers? What Europeans think about alternative protein food

ETRI wins ‘iF Design Award’ for mobile collaborative robot

Combating carbon footprint: novel reactor system converts carbon dioxide into usable fuel

Investigating the origin of circatidal rhythms in freshwater snails

Altering cellular interactions around amyloid plaques may offer novel Alzheimer’s treatment strategies

Brain damage reveals part of the brain necessary for helping others

Surprising properties of elastic turbulence discovered

Study assesses cancer-related care at US hospitals predominantly serving minority populations compared with non-minority serving hospitals

First in-human investigator-initiated clinical trial to launch for refractory prostate cancer patients: Novel alpha therapy targets prostate-specific membrane antigen

Will generative AI change the way universities communicate?

Artificial Intelligence could help cure loneliness, says expert

Echidnapus identified from an ‘Age of Monotremes’

Semaglutide may protect kidney function in individuals with overweight or obesity and cardiovascular disease

New technique detects novel biomarkers for kidney diseases with nephrotic syndrome

Political elites take advantage of anti-partisan protests to disrupt politics

Tiny target discovered on RNA to short-circuit inflammation, UC Santa Cruz researchers find

Charge your laptop in a minute? Supercapacitors can help; new research offers clues

Scientists discover CO2 and CO ices in outskirts of solar system

Theory and experiment combine to shine a new light on proton spin

PKMYT1, a potential ‘Achilles heel’ of treatment resistant ER+ breast cancers with the poorest prognosis

PH-binding motifs as a platform for drug design: Lessons from protease-activated receptors (PARs)

Virginia Tech researcher creates new tool to move tiny bioparticles

On repeat: Biologists observe recurring evolutionary changes, over time, in stick insects

[Press-News.org] Dreman Value Management Announces CIO Succession Plan
David Dreman, Pioneer In Contrarian Investing, Transitions Executive Role To Industry Veteran Cliff Hoover