Peter Demirali

Managing Director, Cumberland Advisors

Peter Demirali joined Cumberland Advisors in 2002 as Portfolio Manager for the Taxable Bond style, and became a Managing Director in 2011. Mr. Demirali was a Senior Portfolio Manager at Smith Barney Asset Management from 1990 to 1999. In that position, he initiated a corporate bond component for taxable fixed-income portfolios.

From 1999 to 2002 he was a partner in Anval, Inc., a commercial real estate brokerage company, where he successfully developed new territories and clients for his firm. He traded zero-coupon bonds at Yamaichi International, a Japanese securities dealer, from 1987 to 1989. Mr. Demirali began his career at Chemical Bank where, from 1983 to 1987, he traded short and intermediate zero-coupon bonds and Treasuries.

His comments and analysis have appeared in Bloomberg Business News, Barron’s, the Wall Street Journal and The Bond Buyer. He has appeared on CNBC and Fox Business News as well as Bloomberg Television.

Mr. Demirali holds a B.S. degree in business administration from Georgetown University. He is a member of the Philadelphia Council of Business. Mr. Demirali resides in Mendham, New Jersey.

David Kotok

CIO of Cumberland Advisors and GIC Vice Chair of the Central Banking Series

David R. Kotok cofounded Cumberland Advisors in 1973 and has been its Chief Investment Officer since inception. He holds a B.S. in economics from The Wharton School of the University of Pennsylvania, an M.S. in organizational dynamics from The School of Arts and Sciences at the University of Pennsylvania, and a masters in philosophy from the University of Pennsylvania.

Mr. Kotok’s articles and financial market commentary have appeared in The New York Times, The Wall Street Journal, Barron’s, and other publications.  He is a frequent guest on financial television including Bloomberg Television, CNBC, and Fox.  He also contributes to radio networks such as NPR and media organizations like Bloomberg Radio among others. He has authored two books including the best seller “From Bear to Bull with ETFs.”

Mr. Kotok currently serves as a Director and Program Chairman of the Global Interdependence Center (GIC) (www.interdependence.org), whose mission is to encourage the expansion of global dialogue and free trade in order to improve cooperation and understanding among nation states, with the goal of reducing international conflicts and improving worldwide living standards. Mr. Kotok chairs its Central Banking Series, and organized a five-continent dialogue held in Philadelphia, Paris, Zambia (Livingstone), Hanoi, Singapore, Prague, Cape Town, Shanghai, Hong Kong, Rome, Milan, Tallinn, and Santiago, Chile. He has received the Global Citizen Award from GIC for his efforts.

Mr. Kotok is a member of the National Business Economics Issues Council (NBEIC), the National Association for Business Economics (NABE), serves on the Research Advisory Board of BCA Research, and is also a member of the Philadelphia Council for Business Economics (PCBE).

Mr. Kotok has served as a Commissioner of the Delaware River Port Authority (DRPA) and on the Treasury Transition Teams for New Jersey Governors Kean and Whitman. He has also served as a board member of the New Jersey Economic Development Authority and as Chairman of the New Jersey Casino Reinvestment Development Authority.

Mr. Kotok hosts an annual Maine fishing trip, where, it is rumored, most of the nation’s important financial and economic decisions are actually made.

John Mousseau

Executive Vice President and the Director of Fixed Income at Cumberland Advisors

John Mousseau  joined Cumberland Advisors in September  2000.  He is currently an Executive Vice President and the Director of Fixed Income at Cumberland Advisors. In this capacity, John and his team manage portfolio construction, management, analysis, trading, and research for both tax-free and taxable bond accounts.  Mr. Mousseau has over 30 years of investment management experience. Prior to Cumberland, John was the Director of Municipal Bond Investments for Lord Abbett & Company.  He also worked previously for Shearson Lehman Brothers and its predecessor firm, E.F. Hutton.

His comments and analysis have appeared in The Bond Buyer, Barron’s, the Wall Street Journal, Bloomberg, Forbes, the New York Times, the San Francisco Chronicle, and the Newark Star Ledger. In addition, he has appeared on Bloomberg Radio and Television, Reuters, and CNBC for commentary on fixed-income markets.

Mr. Mousseau holds an A.B. degree in economics from Georgetown University and a M.A. degree in economics from Brown University. He is a holder of the Chartered Financial Analyst designation and is a member of the Philadelphia Chapter of Business Economists; the New York Society of Securities Analysts, where he serves on the Society’s High Net Worth Investors Committee; and the National Federation of Municipal Analysts (NFMA); and is a past chair of the Municipal Bond Buyers Conference. In addition, he has served as an instructor at the New York Institute of Finance and Bond Market Association.

Mr. Mousseau resides in Maplewood, NJ, where he is active in community affairs and is a board member of the local YMCA and the Rotary Club.