- Investment Management
- Portfolio Management
- Stock Markets
- Mutual Funds & Hedge Funds
Adjunct Professor, Assistant Professor (part-time), Finance
John has been professionally managing global equity and equity derivative investment portfolios for almost 20 years, and prior to that he acted as a consultant to investment management firms and funds. John has managed many different types of investment portfolios ranging from long-only mutual funds and pooled fund trusts to market neutral equity, net short equity and long-short equity hedge funds. He has also managed portable alpha strategies, as well as several arbitrage-based and event driven hedge strategies. John’s expertise is the portfolio management of global equities and global equity derivatives using both highly sophisticated quantitative models as well as traditional fundamental methods. John’s current professional focus is his firm’s global, common equity, growth of dividends, investment strategy which is often implemented with an options writing income generating overlay.
John has held Senior Vice President level portfolio management positions at Financial Concept Group (a subsidiary of Midland Walwyn Inc., and later Merrill Lynch Canada) and Maxxum Fund Management (later Mackenzie Financial, each subsidiaries of Investors Group). However, John is an entrepreneur at heart and since 2002 he has been President and CEO of SciVest Capital Management Inc., a London, Ontario, based registered portfolio management firm which he founded and holds majority ownership. While John has extensive Canadian experience, he also has offshore experience having previously been professionally based in The Bahamas for nine years overseeing Bahamas and Cayman Islands based investment entities, as well as the Canadian operations.
In addition to his professional duties, John is currently an Adjunct Assistant Professor (part-time) teaching MBA-level Portfolio Management at the Richard Ivey School of Business at the University of Western Ontario. Previously, he taught a senior-level Investments course for a number of years at the Rotman School of Management at the University of Toronto. John has authored a number of refereed academic publications and practitioner articles, and has been a presenter at numerous academic and practitioner conferences and events.
John holds a BESc (Mechanical Engineering), a BA (Economics) and a DHS (Honors Economics) from the University of Western Ontario, a MA (Economics) from the University of Toronto, and a PhD (Finance) from the Richard Ivey School of Business at the University of Western Ontario. He also holds the Chartered Financial Analyst (CFA) designation.
Recent Refereed Articles
Foerster, S.R., Schmitz, J.,
1997, "The Transmission of U.S. Election Cycles to International Stock Returns", Journal of International Business Studies 28(1): 1 - 27.
Abstract: This paper examines the international pervasiveness and importance of the previously uncovered four-year U.S. election cycle whereby U.S. stock returns are significantly lower, and negative, in year 2 following U.S. presidential election relative to years 1, 3 and 4. All eighteen countries examined over the 1957 to 1996 time period possess lower local currency stock market capital gains returns in year 2 (-0.66%) relative to the average capital gains of years 1, 3 and 4 (11.68%). These predominately lower year 2 returns are shown to be robust in conditional expected return regressions which include both local macroeconomic variables as well as U.S. macroeconomic, fiscal and monetary policy variables. In addition, we find that the U.S. dollar trends to depreciate more in year 2 of the election cycle. We conclude that the U.S. election cycle variable is either proxying for information variables not included in our model, or the U.S. election cycle variable is capturing some form of U.S. and international market sentiment. That is, the U.S. election cycle may be an important nondiversifiable political factor in the determination of international conditional expected stock returns.
1996, "The Heritage of International Finance", Canadian Journal of Administrative Sciences 13(2): 163 - 181.
Abstract: This paper examines the heritage of international academic finance. Definitions of international empirical and theoretical research are proposed, and an economic characterization of a nation is offered. In addition, an extensive taxonomy of the finance discipline is suggested, and notable domestic and international research is referenced in each of its proposed subfields. The taxonomy illustrates the dramatic neglect of international research in academic finance, and suggests possible areas for future research. The taxonomy also shows that even when international research in a particular subfield emerges, it is usually a simple extension of a domestic theory that has been in the subfield for many years. This apparent neglect may be explained by the lack of a good equilibrium model of international asset pricing, problems modeling partial market segmentation and culture, lack of good international treatments in finance textbooks, and previously unavailable international data. In sum, this review suggests that there exists first-mover advantages in international finance research and teaching, and implies that Canadian finance academics should seize them while these advantages still exist.