COWEN AND COMPANY– EQUITY RESEARCH
Mr. Graf joined Dahlman Rose in September, 2008 and focuses on the Precious Metals and Emerging Miners sector. Cowen and Company has since purchased Dahlman Rose and Co.where Mr. Graf maintains his position in Equity Research. Mr. Graf's methodology entails an asset-by-asset evaluation that is agnostic to metal price and discount rate assumptions, but rather utilizes futures price curves and a market-derived discount rate. Prior to Dahlman Rose, Mr. Graf joined Federated Investors, a long only family of funds, as their Global Metals, Mining, and Steel Analyst. Mr. Graf began his Wall Street career in 2001 as a Research Associate and later as an Analyst for Bear Stearns. At Bear Stearns, Mr. Graf was part of the Metals and Mining team led by Mr. Rizzuto. Prior to joining Bear Stearns, Adam worked as an Exploration Geologist for Phelps Dodge and BHP in the American Southwest. Mr. Graf received his Bachelor of Sciences degree from the University of Michigan, his MSc. in Economic Geology and Masters of Business Administration, both from the University of Arizona.
Dahlman Rose and Co. initiated coverage on Paramount Gold and Silver Corp. on July 15, 2010. Coverage by Adam Graf is ongoing with Cowen and Company.