About the Author

Peter C. Stimes, CFA, is a retired vice president and principal of Flaherty & Crumrine Incorporated. During his 16 years with F&C, he acted at various times in the capacities as portfolio manager, head of quantitative research and securities analysis, and treasurer and chief financial officer of the closed-end funds managed by F&C.

Mr. Stimes obtained his education at the University of Chicago, receiving a Bachelors of Arts degree in Modern History (with General Honors) in 1977 and a degree of Masters of Business Administration in 1980. His MBA concentrations were in the areas of financial economics and mathematical statistics.

In 1984, Mr. Stimes received the designation of Chartered Financial Analyst and, since then, has been formally recognized by the CFA Institute for consistent participation in its voluntary continuing education program.

Prior to his employment at F&C, Mr. Stimes had been an assistant treasurer at Tucson Electric Power Company in Tucson, Arizona. He also served there as vice president of the investment subsidiary overseeing securities investments. Before then, he was a securities analyst and assistant vice president of Duff & Phelps, Inc., in Chicago, Illinois.

During the course of his career, Mr. Stimes has produced or cowritten various papers and analyses for presentation to the CFA Institute, the Internal Revenue Service, the Joint Committee of Taxation of the U.S. Congress, and both state and federal utility regulatory authorities. Presentations ...

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