Randy Befumo joined Legg Mason Capital Management in 1998 as a Research Analyst, was named Co-Director of Research in 2006 and was named sole Director of Research in May 2007. Randy is currently responsible for managing LMCM’s research team, and serving as the Core Internet Analyst for the firm. Previously, Randy was responsible for research in the telecommunications, media, technology, and power industries. Prior to joining LMCM, he spent three years as a Senior Analyst for an online investment service, developing news and research offerings and managing a staff of six. He was also an NCO in an Army Reserve medical unit for six years. Randy earned a B.A. in Interdisciplinary Studies from the College of William and Mary. He received his CFA designation in 2002.
Michael Mauboussin is Chief Investment Strategist at Legg Mason Capital Management. Prior to joining LMCM, Michael was a Managing Director and Chief U.S. Investment Strategist at Credit Suisse. Michael joined CS in 1992 as a packaged food industry analyst. He is a former president of the Consumer Analyst Group of New York and was repeatedly named to Institutional Investor’s All-America Research Team and The Wall Street Journal All-Star survey in the food industry group.
Michael is the author of Think Twice: Harnessing the Power of Counterintuition (Harvard Business Press, 2009) and More Than You Know: Finding Financial Wisdom in Unconventional Places—Updated and Expanded (New York: Columbia Business School Publishing, 2008). More Than You Know was named one of “The 100 Best Business Books of All Time” by 800-CEO-READ, one of the best business books by BusinessWeek (2006) and best economics book by Strategy+Business (2006). He is also co-author, with Alfred Rappaport, of Expectations Investing: Reading Stock Prices for Better Returns (Harvard Business School Press, 2001).
Michael has been an adjunct professor of finance at Columbia Business School since 1993 and is on the faculty of the Heilbrunn Center for Graham and Dodd Investing. In 2009, Michael received the Dean’s Award for Teaching Excellence. BusinessWeek’s Guide to the Best Business Schools (2001) highlighted Michael as one of the school’s “Outstanding Faculty,” a distinction received by only seven professors.
Michael earned an A.B. from Georgetown University. He is also affiliated with the Santa Fe Institute, a leading center for multi-disciplinary research in complex systems theory, and is on the board of directors of Sermo, an online community for physicians.