On the surface, 2023 was a great year in the market, with the S&P 500 up over 21% and the Nasdaq Composite up an astounding 47% (through December 8). Nevertheless, outside of mega-cap technology stocks, and specifically the “Magnificent Seven,” the story was a lot murkier.
David Grumhaus, Jr. President
Chief Investment Officer
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David Grumhaus is the president and chief investment officer of Duff & Phelps Investment Management Co. He is responsible for setting and executing the firm’s strategic initiatives, overseeing the investment strategies, and leading the Executive Committee. In addition, Mr. Grumhaus is a senior portfolio manager on the firm’s energy infrastructure strategies. He joined Duff & Phelps in 2014 and began his career in the investment industry in 1993.
Prior to joining Duff & Phelps, Mr. Grumhaus served as a partner and portfolio manager at Copia Capital, an energy and utility-focused hedge fund. He previously served as an investment banker with both William Blair & Company and Goldman Sachs.
Mr. Grumhaus holds an M.B.A. from Harvard Business School where he was a George F. Baker Scholar and a B.A. in history cum laude from Princeton University. In addition, he is a member of the Investment Committee at the Ann and Robert H. Lurie Children's Hospital of Chicago and serves as a board member of the Beyond Sports Foundation. Mr. Grumhaus served as an Alderman and finance chair for City of Lake Forest, IL from 2005 - 2011.