Enjoy the following exclusive interview with Steve Gorelik, portfolio manager at Firebird Management, based in New York. In this conversation, Steve shares his thoughts and experiences related to fundamental investment analysis of Eastern European businesses.
Firebird Management has been investing in the region since it was founded in 1994. Firebird manages funds dedicated to equity investment in emerging markets, with an emphasis on the former Soviet Union, emerging Eastern Europe, and exotic sectors worldwide. Firebird conducts extensive research on companies in Eastern Europe, which includes numerous meetings with management teams to discuss fundamentals like capital allocation and competitive advantage. The firm has done significant work on the banking industry in the region, which indicates that well-run Eastern European banks can benefit from organic growth, relatively simplistic banking business models, and differentiation in customer service.
Steve joined Firebird in 2005 from Columbia University Graduate School of Business while completing education from a highly selective Value Investing Program. Prior to business school, Steve was an operational strategy consultant at Deloitte. He holds a BS degree from Carnegie Mellon University as well as a CFA charter.
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