Equity Research
Key Personnel
 Brent R. Rystrom, Director of Research Brent Rystrom joined Feltl and Company as Director of Research in early 2009. Brent has over 17 years of experience covering growth stocks primarily in the retailing and consumer areas. At Piper Jaffray from 1993-2004, Brent’s coverage ranked among the firm’s top 10% for institutional votes, revenues, and outside ranking services. He was named a Wall Street Journal “Best on the Street”, Starmine “Top Stock Picker” and “Top 10” Retailing Industry Analyst from Reuter’s. His most prominent coverage included Best Buy, Dollar Tree Stores, Family Dollar Stores, Guitar Center, Michael Stores, Polaris Industries, Regis, Sports Authority, and Tractor Supply. Brent left the industry in 2004, and built a family-owned farming and forestry company. He plans to primarily cover retailing companies for Feltl and Company, and a small group of agriculture-related companies. Brent is a 1987 graduate of the University of St. Thomas. |
 Ernest W. Andberg, Senior Research Analyst Mr. Andberg is a research analyst with over ten years of experience writing on emerging medical device companies. He also has worked on the buy and sell sides of the street as a financial analyst, served as the treasurer and head of investor relations for a publicly traded company and was a registered investment advisor. Recently, Mr. Andberg has won awards from the Wall Street Journal for being the Top Analyst in the Medical Equipment and Supplies sector for 2008, as well as a Starmine award for being the best stock picker in the Health Care Equipment and Supplies sector for 2008. Mr. Andberg has a BA from Carleton College and an MBA from the Graduate School of Business Administration at Harvard University. |
 Jay M. Meier, Senior Research Analyst Mr. Meier joined Feltl and Company as a Senior Research Analyst in February 2008. Before joining Feltl, he served as President of Sage Capital Advisors, a consulting firm focused on early stage and developing companies in the Security and Identity Management industries. From 2001 through 2006, Jay was a Senior Securities Research Analyst at MJSK, a Minneapolis-based investment bank. In 2005, Jay ranked as the "8th Best Overall Stock Picker in North America", according to the Starmine Securities Analyst Survey and Forbes Magazine. In June 2006, Jay published SECURE CREDENTIALING & IDENTIFICATION, Wall Street's first and most comprehensive industry overview research report on emerging security and identity management solutions. He has been a regular speaker at security related trade shows and conferences. Jay earned a BA in Economics from the University of Wisconsin-Madison and holds various securities industry designations. |
 Mark E. Smith, Research Analyst Mark Smith is an Equity Analyst with over four years experience covering restaurants and other consumer discretionary companies. Mr. Smith previously worked for Sidoti and Co. in New York City and earned his BA in Finance from Weber State University. Mr. Smith was named one of the "Best on the Street" in 2007 by The Wall Street Journal. |
 Josh J. Elving, Research Analyst Josh Elving joined Feltl and Company as a senior research analyst in June 2009 covering the specialty finance sector including financial technology and exchange related companies. Prior to joining Feltl, Mr. Elving spent 8 years with Piper Jaffray and Co. as an equity analyst writing research on similar financial companies. Elving earned a BA in Personal Finance at the University of Wisconsin-Madison. |
