Thomas J. Herzfeld | |
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Born | New York City |
Alma mater | Philadelphia University (BSc) Philadelphia University (Honorary Ph.D.) |
Genre | Closed End Funds |
Notable awards | HON LHD (2008) HON Order of Kentucky Colonels (2000) |
Thomas J. Herzfeld (born: New York City 1945) is the founder, Chairman and President of Thomas J. Herzfeld Advisors, Inc., an investment firm specializing in the field of closed-end funds. [1] Herzfeld is also the Chairman and President of The Herzfeld Caribbean Basin Fund Inc., the first closed-end fund formed to invest in the Caribbean region (as well as Cuba, when permitted). [2] Herzfeld wrote the first of his six books on the subject of closed-end funds in 1979. [3] He is the publisher of The Investor's Guide to Closed-End Funds[ citation needed ] monthly research report and is quoted and interviewed on the subject by publications such as the Wall Street Journal , [4] New York Times [5] and Financial Times . [6] He has served as a contributing editor for the Global Guide to Investing (published by Financial Times), and The Encyclopedia of Investments. [6] He has appeared annually on the Nightly Business Report (PBS) show for 30 years [7] and was interviewed on the show Wall $treet Week with Louis Rukeyser several times. [8]
Herzfeld graduated from Philadelphia University in 1966. He served in the United States Army Reserve from 1966-1972, and on active duty in 1967. [9] He received an honorary Doctor of Humane Letters (LHD) from Philadelphia University in 2008 with Steve Forbes, editor-in-chief of Forbes Magazine. [10]
He joined the Wall Street firm Reynolds & Co., in 1968 and began a specialization in closed-end funds. [11] He is widely considered to be the leading expert in the field. [12] He formed the NYSE member firm of Carlino, Herzfeld and Kemm in 1970 and served as the firm's Senior Partner at the age of 25. [9] He also became an Allied Member of the NYSE, an Associate Member of the AMEX and a senior register options principal. [9] In 1981, he formed a stock brokerage firm, Thomas J. Herzfeld & Co., Inc., that was the first to specialize in the field of closed-end funds. [2] In 1984, he formed the advisory arm, Thomas J. Herzfeld Advisors, Inc. and later in 1994 The Herzfeld Caribbean Basin Fund, the first closed-end fund to invest in the Caribbean Basin (and Cuba when allowed). [12] He created the industry's first and only Closed-End Fund Index, "The Herzfeld Average," which has been published in Barron’s weekly since its establishment in 1987. [13] [14] [15] He also coined the term “lifeboat provisions” used in the industry to define tactics funds take to narrow discounts and keep prices afloat. [16] Additionally he is also referred to as: Mr. Closed-End, [17] Guru, [17] The man whose name is synonymous with closed-end funds [18] Maven from Miami, [19] The Top Market Timer [20] and the Dow Beaters. [21] Herzfeld has spent more than 40 years managing closed end fund investments. [2]
Herzfeld married his wife Rutli, a fashion model from Copenhagen, Denmark, in 1970. [22] They have two children: both have graduate degrees from MIT and work for Thomas J. Herzfeld Advisors, Inc. [23] [24] He is an avid yachtsman. He also owns a penthouse condo in New York City and Miami. [25]
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