Abstract

For economists, one of the great revelations of the past twenty years has been the realization that a direct and causal relationship exists between the expansion of telecommunications services and economic growth.  In recent years, the International Telecommunications Union and others have published a large body of work concerning the role of telecommunications in promoting economic development.  According to the Economic Developers Council of Ontario, a study conducted by the Gallup organization has shown that many business executives rank the availability of a sophisticated telecommunications infrastructure among the most critical factors in their expansion strategies, ahead of transportation, costs of raw materials, and the cost of capital.  Closer to home, the unexpected and tremendous growth of the New Media industry in Vancouver's Yaletown district was probably inevitable once the area had been penetrated by high capacity fibre.

For scientists and engineers, the growth of the Telecommunications sector in recent years has been especially rewarding.  Although the benefits that this expansion has brought to our economy, our professions, and our personal lives are obvious, many of us are less certain how best to take advantage of these opportunities as investors. Does a good company with a well-recognized brand automatically qualify it as a good equity investment?  What are the current trends in this industry that make it a fertile area for investors?  How has the hype affected valuations and are the traditional metrics still applicable? After a brief introduction by Amy Leung, David Davies will cut through the media-generated hype as he discusses the current state of the Telecommunications sector from the investment industry's perspective.

About the Speakers:

David C. Davies has worked in the investment business for 13 years, the last six years of which have been spent managing portfolios for high net worth individuals and endowment accounts. David is a Chartered Financial Analyst charter holder; belongs to the Association of Investment Management and Research out of Charlottesville, Virginia; and is a member in good standing of the Vancouver Society of Financial Analysts.  He also holds a Bachelor's degree in Economics from the University of Western Ontario. David is registered with the BC Securities Commission as a Portfolio Manager and Investment Counselor and as such is able to manage client portfolios on a discretionary basis. He is also registered with the Securities and Exchange Commission in the United States to provide similar service to American resident clients.

Amy Leung has 10 years of experience in the financial services industry, both domestic and international.  Her experience includes providing professional financial advice to high net worth individuals; business lending to owner-operated enterprises; development and delivery of high level financial reporting and executive presentations; and development of the on-line banking market.  Amy holds a MBA from the University of Calgary, and is currently enrolled in the Chartered Financial Analyst Level 3 Exam.  She is registered with the British Columbia Securities Commission as a registered representative in trading Mutual Fund securities.

No-Host Dinner

You can meet David C. Davies and Amy Leung at a no-host dinner before the talk. Please join us at 6:00 PM at Earl's, 4361 Kingsway (one block west of Willingdon) in Burnaby. All are welcome, although advance notice by e-mail to Dave Michelson <dmichelson@ieee.org> would be appreciated so that we can ask for a table of appropriate size.