Paul McCulley
Manager, short-term funds
Pacific Investment Management (PIMCO)
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As a managing director for the largest bond investor in the United States, McCulley knows something about fixed income investing. He has managed PIMCO's short-term desk since 1999.
PIMCO's short-term funds have an easily-defined goal: outperform money market funds by at least one percentage point. They've generally done so under McCulley, usually producing returns close to their sector's average.
Also a widely-quoted Federal Reserve watcher, McCulley writes the company's monthly Fed Focus newsletter, and leads PIMCO's Cyclical Economic Forum. Lately, McCulley has been calling on the Fed to go beyond interest rate cuts and take a more active role in getting capital flowing. "It is time for Mr. Greenspan to order banks to expand their 'liquidity' lending, and cease contracting it," McCulley writes in PIMCO's July Fed Focus. "Good loans are made in bad times, and the time has come to make them!"
McCulley's pre-PIMCO work includes a stint as chief economist for UBS Warburg. From 1996 to 1998, he was named to six seats on Institutional Investor's All-America team for fixed income. McCulley previously worked at PIMCO from 1990 to 1992, as an account manager and monetary policy specialist. He received a bachelor's degree from Grinnell College and an MBA from Columbia University.
Blair Levin
Managing director
Regulatory strategy, telecommunications and technnology
Legg Mason |
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Levin joined Legg Mason in January 2001 as the firm's principal regulatory strategy analyst, but his most visible role was as chief of staff to FCC Chairman Reed Hundt from December 1993 through October 1997. Described by Broadcast and Cable magazine as "The Sixth Commissioner," Levin oversaw the implementation of the historic 1996 Telecommunications Reform Act, the first spectrum auctions, the development of digital television standards, and the Commission's Internet initiative.
Before coming to Legg Mason, Blair was a principal in the Blue Hill Group, providing strategic advice to telecom companies, such as Excite@Home, USA Networks, CMGI and start-up companies in the telecommunications sector.
Prior to his FCC work, Levin was a partner in the North Carolina law firm of Parker Poe, Poe, Adams and Bernstein, where he represented new communications ventures, as well as numerous local governments on public financing issues. A native of Los Angeles, he is a summa cum laude graduate of Yale College and Yale Law School.
Levin has spoken at conferences around the world on telecommunications issues. He has written for The Wall Street Journal, Washington Monthly, Network World and Brill's Content and Teletimes. From 1997 to 1999, Levin served on the board of KnowledgeBaseMarketing, a leading privately held database marketing company, prior to its sale in 1999 to Young & Rubicam.
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