Research Staff
Michelle Applebaum, Managing Director
Ms. Applebaum spent over 20 years at Salomon Brothers, in New York and Chicago.
During her years on Wall Street, Ms. Applebaum was the top-rated steel industry analyst
according to the prestigious Institutional Investor All-Star poll for a dozen years. During
that time she served as an advisor to the country’s largest money managers and
worked as part of the investment banking team advising corporations on over 2-dozen
initial and secondary public offerings, mergers and acquisitions.
Ms. Applebaum is regularly quoted in publications such as The Wall Street Journal and
The New York Times. She makes frequent appearances on business programs of
CNN and CNBC, and was a featured guest on Wall Street Week with Louis Rukeyser.
Ms. Applebaum has a BS in Economics from Northwestern University and a MBA in
Accounting and Finance from the Kellogg School of Business. She currently lives in
Chicago with her husband, 3 children and 2 dogs.
Nate Carruthers, Vice President - Equity Research
Nate Carruthers is a Vice-President and has been with the firm since March, 2004.
During his four years at the firm Nate has held positions of increasing responsibility
starting with research assistant. Nate plays a significant role in writing research reports
and preparing company earnings and cash flow models for publications. He helps
support client relationships, produces presentations for industry conferences, and
creates and maintains industry-specific charts and tables. He is also responsible for
training new research assistants. Nate received a B.B.A. in Finance from the University
of Iowa in December 2003 where he graduated with highest distinction.
Michelle Applebaum, Managing Director
Ms. Applebaum spent over 20 years at Salomon Brothers, in New York and Chicago.
During her years on Wall Street, Ms. Applebaum was the top-rated steel industry analyst
according to the prestigious Institutional Investor All-Star poll for a dozen years. During
that time she served as an advisor to the country’s largest money managers and
worked as part of the investment banking team advising corporations on over 2-dozen
initial and secondary public offerings, mergers and acquisitions.
Ms. Applebaum is regularly quoted in publications such as The Wall Street Journal and
The New York Times. She makes frequent appearances on business programs of
CNN and CNBC, and was a featured guest on Wall Street Week with Louis Rukeyser.
Ms. Applebaum has a BS in Economics from Northwestern University and a MBA in
Accounting and Finance from the Kellogg School of Business. She currently lives in
Chicago with her husband, 3 children and 2 dogs.
Nate Carruthers, Vice President - Equity Research
Nate Carruthers is a Vice-President and has been with the firm since March, 2004.
During his four years at the firm Nate has held positions of increasing responsibility
starting with research assistant. Nate plays a significant role in writing research reports
and preparing company earnings and cash flow models for publications. He helps
support client relationships, produces presentations for industry conferences, and
creates and maintains industry-specific charts and tables. He is also responsible for
training new research assistants. Nate received a B.B.A. in Finance from the University
of Iowa in December 2003 where he graduated with highest distinction.
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