Adam Graf, Independent Securities Analyst,will make the case that valuing gold equities requires a unique methodology that is more aligned with methods relied upon by the buy-side. He will present the case for a dynamic market based valuation approach relying on live inputs such as forward curves and brand derived discount rates.

A copy of the presentation will be available for download on this page on 26 June 2015.


Independent Securities Analyst

Mr. Graf is an independent analyst. He previously worked as a Senior Securities Analyst with Cowen Group and Dahlman Rose. He started his career as an Exploration Geologist for Phelps Dodge and BHP in the American Southwest. In 2001, he began his Wall Street career as a Research Associate and later as an Analyst for the Bear Stearns Metals and Mining team. In 2005, Mr. Graf joined Federated Investors, a long-only family of funds, as their Global Metals, Mining, and Steel Analyst. Mr. Graf received his Bachelor of Science degree from the University of Michigan, his Masters of Science in Economic Geology and Masters of Business Administration, both from the University of Arizona. Mr. Graf holds a Chartered Financial Analyst designation.