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Wrong Ronald Olin?

Mr. Ronald G. Olin

Chief Investment Officer

Doliver Capital Advisors L.P

HQ Phone: (713) 917-0022

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Doliver Capital Advisors L.P

6363 Woodway Dr. Suite #963

Houston, Texas 77057

United States

Company Description

Doliver Capital Advisors L.P. (Doliver) is an investment advisory firm registered with the Securities Exchange Commission and located in Houston, Texas. The firm was founded in 1988 by Ronald Olin and Skip McBride. We utilize a proprietary, quantitative ... more

Find other employees at this company (10)

Background Information

Employment History

Systems Analyst and Manager

IBM Corporation

Education

Rice University

Bachelor of Arts

Rice University

Masters of Electrical Engineering

Rice University

Web References (24 Total References)


Ronald G. ...

www.doliveradvisors.com [cached]

Ronald G. Olin

Chief Investment Officer
Ron Olin is the original creator of Doliver's investment strategy. His current responsibilities include research, analysis, formulation, and ongoing modification of all Doliver closed-end investment strategies at the overall portfolio level. He also oversees the proper execution and trading associated with such strategies up until the point at which trades are allocated to individual client accounts. Ron is a graduate of Rice University where he received a Bachelor of Arts and Masters of Electrical Engineering. Prior to founding the firm in 1986, Ron was a Systems Analyst and Manager for IBM on loan to NASA.
...
Skip founded the firm with Ron Olin in 1988 and is the General Partner of the firm.


Our Team | Doliver Capital Advisors

www.doliveradvisors.com [cached]

Ronald G. Olin | Chief Investment Officer Ron Olin is the original creator of Doliver's investment strategy. His current responsibilities include preliminary research and analysis for all investments, as well as managing client portfolios. Ron is a graduate of Rice University where he received a Bachelor of Arts and Masters of Electrical Engineering. Prior to founding the firm in 1986, Ron was a Systems Analyst and Manager for IBM on loan to NASA.

...
Skip founded the firm with Ron Olin in 1986.


It is owned by Ronald G. ...

homesoftherich.net [cached]

It is owned by Ronald G. Olin, who is the co-founder of Doliver Capital Advisors.


Media | Doliver Capital Advisors

www.doliveradvisors.com [cached]

Another SEC filing showed Ron Olin, chief trader for Doliver Capital, held a 5.7% stake of that fund's shares. Mr. Olin wasn't available for comment.

...
Now some of these activists are bringing the battle straight to the boardroom, taking away seats from directors and rattling these funds as never before. 'It's our belief that directors at some of these funds take actions that are best only for the fund's advisors, not for the majority of shareholders,' says Ron Olin, who as a portfolio manager with Deep Discount Advisors in Asheville, N.C., has rallied other discontented shareholders to vote him onto the boards of Austria Fund and Clemente Strategic Value Fund."
...
"Disgusted by lackluster returns and a dismayingly large discount at which their shares traded on the New York Stock Exchange, they voted out longstanding directors and in October turned the board over to a dissident plank headed by Ron G. Olin. Olin radically changed the fund and boosted returns without laying a hand on its investment portfolio. Olin, 54, spent a earlier career with IBM working on NASA's computer systems.
...
The three contests are being led by Ronald Olin, 53, a one-time IBM middle manager who founded Deep Discount Advisors in Asheville, N.C. a dozen years ago." "Mr. Olin and Mr. Goldstein, 54, have become the leading lights in an increasingly rancorous movement to push to bring the closed-end funds' price in line with the net asset value of their underlying securities. Both are considered professional dissidents with more than a touch of arbitrageur: They buy funds trading at steep discounts, then seek to make profits by pressing for changes to narrow the discount." "'Boards simple concluded that the proposals weren't in the best interest of shareholders,' says an exasperated Mr. Olin. Last summer, the Securities and Exchange Commission armed Mr. Olin, Mr. Goldstein and other dissidents with a powerful club, saying that boards must honor successful shareholder proposals to boot managers, rather than view them as merely advisory."
...
"For the measly $19,000 dissident shareholder Ron Olin plans to spend on an upcoming proxy fight, you might suspect he's not worth a second thought. But Olin, operating from his tiny and specialized investment firm in Asheville, N.C., is proving to be a royal pain to top executives of giant asset management firms. He's embarrassing them before prestigious former government officials and business executives they had recruited as directors of publicly traded closed-end international stock funds .... Olin, a former IBM middle manager, started his Deep Discount Advisors 12 years ago and devoted it to closed-end funds as a way to buy $1 worth of stock for 80 cents or so. But to get value out of his bargains, Olin has resorted to using proxy fights to prod management firms to take steps to close the discount, steps that often reduce their fees."
...
Ronald Olin, president of Deep Discount Advisors, an Asheville, N.C., money management firm, asserts that short-term performance drives discounts and premiums.
...
"'There are two ways to profit from the discounts,' says Ron Olin, president of Deep Discount Advisors, Inc, an Asheville, North Carolina, investment management firm specializing in closed-end funds. 'One way is to find a fund selling at a big discount, because its normal payouts of dividends and capital gains will be proportionately higher. If the investments have a market value of 10$ per share and you're able to buy them though a closed-end fund selling for $8 a share, then a $1 dividend is going to mean a return of 12.5 percent instead of 10 percent.' In addition, Olin says, 'If the discount narrows, there's another source of extra returns.'" "Overall, Olin says, 'The statistical analyses we have done suggest slightly better asset performance for closed-end funds in the aggregate than open end. It's relatively close, but slightly better. Add this to the discount profits, and you have a big difference.'" "More important, Olin says, 'A closed-end fund is a pool of capital that is not subject to money coming in and redemptions going out, so the manager can more actively apply his strategy without concern about capital flows. And as a consequence, he can invest in somewhat less liquid assets than he would in an open-end fund.' By contrast, mutual fund managers following the same strategy must keep some of their resources in cash or liquid investments in case some investors want to redeem their shares." "You can get extra returns on top of whatever the market does by capitalizing on changing discounts and premiums,' Olin says, and he adds that you don't have to be a genius. 'There are bona fide inefficiencies in this market because there are people who don't know what's going on.' Major institutional investors with big staffs scouring the market for opportunities don't invest in closed-end funds because their clients aren't paying them a fee to find other managers. So it's a market with a lot of amateurs.'" "Finding a closed-end fund where the discount narrows can produce big returns. 'If one were able to find enough of those situations,' Olin says, 'you'd have the best performance of any investor in the world.'"
...
That's why Houston money manager Ronald Olin tries to find closed-ends whose discounts are almost certain to shrink. How do you find such funds? Olin likes buying some of the newer closed-ends that have provisions for reducing the discount or converting into open-end funds. That way, investors can get out of the fund at, or close to, net asset value. 'I like the idea of applying mathematics to beat the system,' says Olin, 44. During his college days at Houston's Rice University, Olin used mathematics to win at poker. Later, he says, while working at IBM on ground-based computer systems for the Apollo space program, he made tens of thousands of dollars playing blackjack in Las Vegas on weekends. Says he, 'The casinos aren't designed to lose money, so it becomes more a matter of deception, making sure they don't realize you're a card counter.' For the benefit of the initiated, card-counting is a method for raising your bet when you see that the house's unplayed cards are running in your favor. In this spirit, Olin has been applying notions like probability and optimization to closed-ends.


Media articles regarding Ron ...

www.doliveradvisors.com [cached]

Media articles regarding Ron Olin or Doliver Capital Advisors (Formerly Deep Discount Advisors):

"A statement of beneficial ownership filed with the SEC, which lists the 'date of event requiring filing' as April 28, by Doliver Capital Advisors Inc., Asheville, N.C., formerly Deep Discount Advisors, reported it controlled 25.3% of the common stock of First Trusts Value Line & Ibbotson Equity Allocation Fund. Another SEC filing showed Ron Olin, chief trader for Doliver Capital, held a 5.7% stake of that fund's shares. Mr. Olin wasn't available for comment.
...
Now some of these activists are bringing the battle straight to the boardroom, taking away seats from directors and rattling these funds as never before. 'It's our belief that directors at some of these funds take actions that are best only for the fund's advisors, not for the majority of shareholders,' says Ron Olin, who as a portfolio manager with Deep Discount Advisors in Asheville, N.C., has rallied other discontented shareholders to vote him onto the boards of Austria Fund and Clemente Strategic Value Fund."
...
"Disgusted by lackluster returns and a dismayingly large discount at which their shares traded on the New York Stock Exchange, they voted out longstanding directors and in October turned the board over to a dissident plank headed by Ron G. Olin. Olin radically changed the fund and boosted returns without laying a hand on its investment portfolio. Olin, 54, spent a earlier career with IBM working on NASA's computer systems.
...
The three contests are being led by Ronald Olin, 53, a one-time IBM middle manager who founded Deep Discount Advisors in Asheville, N.C. a dozen years ago. "Mr. Olin and Mr. Goldstein, 54, have become the leading lights in an increasingly rancorous movement to push to bring the closed-end funds' price in line with the net asset value of their underlying securities.
...
"'Boards simple concluded that the proposals weren't in the best interest of shareholders,' says an exasperated Mr. Olin. Last summer, the Securities and Exchange Commission armed Mr. Olin, Mr. Goldstein and other dissidents with a powerful club, saying that boards must honor successful shareholder proposals to boot managers, rather than view them as merely advisory."
...
"For the measly $19,000 dissident shareholder Ron Olin plans to spend on an upcoming proxy fight, you might suspect he's not worth a second thought. But Olin, operating from his tiny and specialized investment firm in Asheville, N.C., is proving to be a royal pain to top executives of giant asset management firms. He's embarrassing them before prestigious former government officials and business executives they had recruited as directors of publicly traded closed-end international stock funds …. Olin, a former IBM middle manager, started his Deep Discount Advisors 12 years ago and devoted it to closed-end funds as a way to buy $1 worth of stock for 80 cents or so. But to get value out of his bargains, Olin has resorted to using proxy fights to prod management firms to take steps to close the discount, steps that often reduce their fees."
...
Ronald Olin, president of Deep Discount Advisors, an Asheville, N.C., money management firm, asserts that short-term performance drives discounts and premiums.
...
"'There are two ways to profit from the discounts,' says Ron Olin, president of Deep Discount Advisors, Inc, an Asheville, North Carolina, investment management firm specializing in closed-end funds. 'One way is to find a fund selling at a big discount, because its normal payouts of dividends and capital gains will be proportionately higher. If the investments have a market value of 10$ per share and you're able to buy them though a closed-end fund selling for $8 a share, then a $1 dividend is going to mean a return of 12.5 percent instead of 10 percent.' In addition, Olin says, 'If the discount narrows, there's another source of extra returns.'" "Overall, Olin says, 'The statistical analyses we have done suggest slightly better asset performance for closed-end funds in the aggregate than open end. It's relatively close, but slightly better. Add this to the discount profits, and you have a big difference.'" "More important, Olin says, 'A closed-end fund is a pool of capital that is not subject to money coming in and redemptions going out, so the manager can more actively apply his strategy without concern about capital flows. And as a consequence, he can invest in somewhat less liquid assets than he would in an open-end fund.' By contrast, mutual fund managers following the same strategy must keep some of their resources in cash or liquid investments in case some investors want to redeem their shares. "You can get extra returns on top of whatever the market does by capitalizing on changing discounts and premiums,' Olin says, and he adds that you don't have to be a genius. 'There are bona fide inefficiencies in this market because there are people who don't know what's going on.' Major institutional investors with big staffs scouring the market for opportunities don't invest in closed-end funds because their clients aren't paying them a fee to find other managers. So it's a market with a lot of amateurs.'" "Finding a closed-end fund where the discount narrows can produce big returns. 'If one were able to find enough of those situations,' Olin says, 'you'd have the best performance of any investor in the world.'"
...
That's why Houston money manager Ronald Olin tries to find closed-ends whose discounts are almost certain to shrink. How do you find such funds? Olin likes buying some of the newer closed-ends that have provisions for reducing the discount or converting into open-end funds. That way, investors can get out of the fund at, or close to, net asset value. 'I like the idea of applying mathematics to beat the system,' says Olin, 44. During his college days at Houston's Rice University, Olin used mathematics to win at poker. Later, he says, while working at IBM on ground-based computer systems for the Apollo space program, he made tens of thousands of dollars playing blackjack in Las Vegas on weekends. Says he, 'The casinos aren't designed to lose money, so it becomes more a matter of deception, making sure they don't realize you're a card counter.' For the benefit of the initiated, card-counting is a method for raising your bet when you see that the house's unplayed cards are running in your favor. In this spirit, Olin has been applying notions like probability and optimization to closed-ends.

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