Richard Eckert

Richard A. Eckert, CFA is the manager and sole principal of Second Derivative Research, LLC, an independent securities research firm committed to unbiased research and the generation of timely, new investing ideas within the financial services sector. Prior to forming Second Derivative, Mr. Eckert served as Chief Financial Officer/Risk Manager at Lahde Capital Management, LLC, a Los Angeles, CA-based hedge fund established to exploit deteriorating conditions in the real estate and broader credit markets. During Mr. Eckert’s tenure at Lahde, the firm’s U.S. Residential Real Estate Hedge Series A, U.S. Residential Real Estate Hedge Series B, Commercial Real Estate Hedge Series A, and Short Credit Funds returned to its investors, net of fees, 1,040%, 345%, 202%, and 41%, respectively, over the life of the funds. Mr. Eckert came to Lahde Capital Management from Roth Capital Partners, LLC, a regional broker/dealer specializing in corporate finance services to small- and microcap businesses, where he held the title of Senior Research Analyst. There, he was recognized by the Wall Street Journal in its 2005 "Best on the Street Analysts Survey" as the #1 ranked analyst in the Consumer & Specialty Finance category. Mr. Eckert was also recognized in the 2007 Forbes.com/ Starmine North American Analyst Survey, which ranked him the #2 Stock Picker and the #3 Estimator in the Consumer Finance Industry. Before joining at Roth, Mr. Eckert spent a little over 4 years at two other regional broker/dealers—Wedbush Morgan and Sutro & Co.—following slightly larger, mostly interest-sensitive, names in the broader financial services industry. Previously, Mr. Eckert worked six years as a financial risk management professional, first with Federal Home Loan Bank of San Francisco and, later, as an independent consultant. Mr. Eckert also served as a thrift examiner, dedicated mainly to interest rate risk management practices and procedures, and, earlier, as a bank accountant. Mr. Eckert holds a B.A. in English from the University of Notre Dame and an MBA from the University of Illinois. Mr. Eckert is also a CFA Charterholder. He is a member of both the CFA Institute and the CFA Society of Los Angeles (CFALA).