Professional Biography: Michael C. Jordan
With well over thirty years
of securities industry experience, prior to the formation of
Polar Investment Counsel, Inc., in 1995, Mr. Jordan had been
associated with several firms. Through these associations
throughout the years, he had gained insight and experiences,
within the securities and investment industry, that few
other investment professionals have experienced regarding
the management and investment of client assets and in
matters of industry and financial trends, which are to
include industry management.
Mr. Jordan’s associations
are as follows:
Investor Diversified
Services (Glenview IL)
His first home in the
securities industry, he learned the rudiments of financial
planning by helping young families in budget planning with
the ultimate goal of finding investable dollars. Along with
this, Mr. Jordan reevaluated clients insurance needs to
allow for them to obtain adequate coverage at a cost
effective premium.
Hornblower & Weeks, Hemphill
Noyes (Chicago IL)
Mr. Jordan’s initial
association with a so called “NY Wirehouse” of the day;
began here where he first learned the value of “asset
allocation” (a term not used in those days). In its day,
this firm was one of the “New York Blueblood” firms, but
mismanagement at the top and riddled with nepotism.
Consequently, it no longer exists.
Oppenheimer & Company
(Chicago IL)
In the later 1970’s, this
was one of the first smaller “Boutique Firms” that actually
was at that time a (very much) superior firm with better
research, and to some extent, offered a larger selection and
better quality of products. It was here that he learned a
bit more about portfolio diversification and utilization of
such products as limited partnerships and managed futures
accounts. This experience was not entirely positive from
all standpoints. For instance, during his tenure at the
firm, dozens of (what he refers to as) venture capital
limited partnerships were marketed by the firm’s associates,
including the Delorean motor car deal (yes, Mr. Jordan met
John Delorean). His recollection of this is that only two
or three of these deals represented a positive return to the
investing public. This firm survived, but fell from
greatness due to (in Mr.
Jordan’s
opinion) greed and mismanagement.
AG Becker (Chicago IL)
His association with this
boutique firm brought a much greater understanding of the
futures and fixed income markets. Alas, due to gross
mismanagement of the firm, its majority (European) owners
closed it down.
Rooney Pace (Chicago IL)
In the early 1980’s, Mr.
Jordan followed a former AG Becker manager and nearly joined
the firm of J David (David Dominelli). However, J David was
put out of the business due to corrupt practices (quite the
scandal of the day) and the assets of the firm were
purchased by Rooney Pace (a NYSE Penny Stock firm). In the
short tenure at this firm, he learned little with the
exception of some additional experience with (in his
opinion) corrupt and greedy management.
Prescott Ball & Turbin
(Chicago IL)
At the time, this firm was
part of the Kemper Funds Family and taught him a great deal
about the rapidly growing mutual fund industry.
Thompson McKinnon (Crystal
Lake IL)
Mr. Jordan recalls his sole
reason for joining this firm was the opportunity of escaping
the crowded downtown Chicago working environment for the
relative peace of Crystal Lake (just a stone’s through from
his home in Barrington IL). The firm terminated Mr. Jordan
due to lack of production and bearishness prior to the crash
in 1987. The firm “crashed and burned” shortly after that
leaving thousands of its ESOP employees with no retirement
funding – incompetent management.
The Milwaukee Company
(Vernon Hills IL)
The small NYSE member firm
attracted Mr. Jordan because he needed a new place to work.
The office location was suburban and they had an interesting
“managed account” department. However, his association with
the firm was not long as shortly after the crash of 1987,
they were forced into a merger with Dain Bosworth. A result
of (in his opinion) more incompetent management.
Dain Bosworth (Vernon Hills
IL)
This association was not of
Mr. Jordan’s choosing (forced upon him as a result of the
death of The Milwaukee Company) and the firm’s business
model did not fit his business. He had a number of
discretionary accounts which he managed for clientele. Dain
did not permit such accounts; nonetheless, in his short
association with the firm he did pick up some management
“pointers”.
AG Edwards (Burlington WI)
Finally, removing himself
from the major metropolitan area, Mr. Jordan found himself a
home at AGE. While
at this firm he began managing some very large clientele
accounts. The firm was supportive and had an excellent
compliance and managed futures department. For a period of
time, he was the firm’s largest futures producer, never
writing a ticket, all the business was managed by outside
professionals. In the six or so years he spent at
AGE,
his aptitude for true portfolio diversification grew
tremendously as did his experience in the fixed income area.
Mr. Jordan enjoys the
following activities (past and present):
-
Fishing & Hunting
-
Solo deep wilderness
trips
-
Horseback riding
-
Target shooting
-
Aviation (private pilot)
-
Sailing
-
Crude Carpentry
-
Lawn maintenance
-
Gardening
-
Wood Cutting
-
Dogs
