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In our monthly publication, bGA covered 39 equity markets drawn from Asia, Europe, Africa, the Middle East and North and South America. Our allocation methodology reflected a comparative review of value, liquidity, and sentiment, along with the underpinning political, regulatory, demographic and economic factors influencing market performance.
During the publication of our monthly review from March 2003 through February 2007, bGA's analysis and conclusions demonstrated value. Our monthly global equity allocation recommendations outperformed both the global market cap and the S&P 500 on a cumulative basis during this four year period.
FOUNDER:
Prior to forming Berkeley Global Advisory, Research Director Michael McDonnell refined his expertise during eleven years in Merrill Lynch's Corporate Risk Management group, where he discriminated risk and opportunity unfolding in the world's capital markets.
At Merrill, Mike held various positions, eventually becoming the Director and Co-head of the firm's Country Risk Unit. Jointly responsible for the assignment of country ratings used in the credit allocation process, he advanced the ML risk franchise through analysis, counsel, and decision-making on country risk issues for the firm's risk management, research, treasury and business units.
Mike participated in firm discussions with the IMF, Bank of England, Federal Reserve Bank, private sector financial institutions and various research organizations. He conducted on-site country due-diligence in the People's Republic of China, Republic of Colombia, Republic of Croatia, Kingdom of Denmark, Republic of Ecuador, Republic of Finland, State of Israel, United Mexican States, Republic of Poland, Russian Federation, Kingdom of Sweden, Kingdom of Thailand, Republic of Tunisia, Republic of Turkey, and the Bolivar Republic of Venezuela.
He also co-developed and implemented a proprietary country comparative methodology used in the determination of internal country risk ratings and country exposure management, the foundation of which he applied to his allocation recommendations at bGA.
During his eleven years at Merrill, Mike addressed risk issues related to the ERM crisis and Scandinavian banking crises of the early nineties, the Mexican peso devaluation and the Turkish balance of payments crisis in 1994. He also provided in-house counsel on the Quebec referendum of 1995, the currency and banking sector crisis in East Asia during 1997-1998, and the Russian default of 1998. He advised on the impact of the Argentine default, and the balance of payments crises in Turkey and Brazil during the first years of the current decade.
Prior to joining Merrill, Mike was a research analyst at Dun & Bradstreet and the investment research firm Strategic Research International in New York.
Mike received an MA in Applied Statistics from Columbia University and an MA in International Relations from the University of Chicago. He holds a BA from Macalester College. He also passed the Financial Risk Manager (FRM) exam offered by the Global Association of Risk Professionals (GARP) in 2006.
In March 2007, Mike left bGA to pursue a full-time role with a large institutional investor based in San Francisco.
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