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Andrew Smithers

Andrew started Smithers & Co. Ltd. in 1989 with 12 clients. It now provides advice on international asset allocation to over 100 clients based mainly in Boston, London, New York and Tokyo.

The firm covers the economies, stock, bond and currency markets of Japan, the US and major European countries. It is particularly well known for its work on the Japanese economy, the valuation of the US and other stock markets and on the impact of Employee Stock Options on profits.

Andrew is the co-author of two books "Valuing Wall Street", with Stephen Wright, which was published by McGraw-Hill in March 2000 and "Japan's Key Challenges for the 21st Century" with David Asher, which was published in Japanese by Diamond Press in 1999. It was based on the Japanese part of "Japan’s Key Challenges for the 21st Century: Debt, Deflation, Default, Demography and Deregulation" published by The Johns Hopkins University, SAIS Policy Forum, in April, 1998.

Andrew first visited Japan in 1968 and lived there from 1986 to 1989. He is a regular contributor in Japan to the Nikkei Kinyu Shimbun's Market Eye column. He was a regular contributor to the London Evening Standard and Japan’s Sentaku magazine, and has written for many other newspapers and magazines, including the Financial Times, Forbes (US), Sunday Telegraph (UK), Independent on Sunday (UK) and Genron (Japan).

Several of the reports issued by Smithers & Co. have received widespread press coverage and academic attention.

Prior to starting his own firm, Andrew was at S.G.Warburg & Co. Ltd. from 1962 to 1989 where he ran the investment management business for some years and which, by the end of his tenure, was the acknowledged market leader. This was subsequently floated off as a separate company, Mercury Asset Management, which was acquired by Merrill Lynch in 1998.

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Edwin G. Dolan is an economist and educator with a Ph.D. from Yale University. Early in his career, he was a member of the economics faculty at Dartmouth College, the University of Chicago, and George Mason University. From 1990 to 2001, he taught in Moscow, Russia, where he and his wife founded the American Institute of Business and Economics (AIBEc), an independent, not-for-profit MBA program. Since 2001, he has taught at several universities in Europe, including Central European University in Budapest, the University of Economics in Prague, and the Stockholm School of Economics in Riga, where he has an ongoing annual visiting appointment. During breaks in his teaching career, he worked in Washington, D.C. as an economist for the Antitrust Division of the Department of Justice and as a regulatory analyst for the Interstate Commerce Commission, and later served a stint in Almaty as an adviser to the National Bank of Kazakhstan. When not lecturing abroad, he makes his home in San Juan Islands, Washington.

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