The Mill, Suite 5

381 Brinton Lake Road

Thornton, PA 19373
610-361-1000 x102
www.brandywine.com
joe@brandywine.com

Brandywine Update
November 2019
Brandywine Reaches $1 Billion Milestone
in Assets Under Advisement

Brandywine’s expanded service offerings Current Engagements

In July of last year Brandywine expanded our service
offerings to include providing research, analysis, portfolio
planning and management assistance to family office CIOs,
while continuing to develop and manage Return Driver based
investment programs for both individual and institutional
investors.
The result has been a rapid increase in Brandywine’s
assets under advisement and management to more than $1
billion today.
This growth is the result of the broad range of expertise
Brandywine is able to provide to its clients. This is based on
Brandywine’s four decades of research and trading
experience and the diverse experiences of Brandywine’s
principals. This experience is displayed in their bios below.
Brief Biographies of Brandywine’s Principals
Michael P. Dever founded Brandywine in 1982. He is the
author of a best-selling investment book and a featured
subject of three books. Mr. Dever is well-known for the
performance of his futures investment programs, including
Brandywine’s Benchmark, Monetary and Symphony
programs, which consistently outperformed the industry
averages; and Brandywine’s market neutral equity program,
which produced double digit annualized returns.
Mr. Dever became an Internet pioneer when he founded
Spree.com in 1996. Spree.com grew to become the 7th most
trafficked ecommerce site by the fall of 1998. Among other
accomplishments, Spree was the exclusive ecommerce part-
ner for the PGA Tour. Mr. Dever also founded InternetSeer,
the world’s largest web site monitoring company, and led the
company through to its successful sale in July 2007.
Mr. Dever is a board member of the National Futures
Association CPO/CTA Committee, holds the Certified Financial
Planner designation and has a B.S. in Business from West
Chester University.
Fun Fact: as a high school pole vault coach, Mike produced
three state medalists, including his sons Matthew and Charley
(now vaulting for the U.S. Naval Academy), an All-American
and the Pennsylvania all-time state record holder (17’-0”).
Brandywine is currently working with family office clients
on the following engagements. Brandywine not only consults
but also executes on its recommendations to:
• Create a customized hedge solution to mitigate the
risk exposure in a long-biased hedge fund portfolio.
• Evaluate diversification options for a sizable cash
position (as a percentage of the clients’ portfolio).
• Review 3rd-party tactical trading strategies designed
to compliment existing long equity exposure.
• Invest the proceeds from a corporate sale with the
objective of preserving value across a range of
inflation and “worst-case” geopolitical scenarios.
Contact Brandywine for a complimentary initial consultation
regarding your investment portfolio needs or concerns.
Joseph W. Gabor began his financial career in 1992 as an
equity option clerk/market maker on the Philadelphia and
American Stock Exchanges. He moved “upstairs” and at
Nomura Securities launched an advisory business that used
equity and index options to both add alpha and hedge
portfolios. Mr. Gabor was vice president of special situations
at Lehman Brothers, where he co-managed an advisory group
on market neutral strategies and hedging. He then advanced
to becoming Partner and Managing Director at Cantor
Fitzgerald, where he advised hedge funds and family offices
on market neutral and hedging strategies.
Prior to joining Brandywine in January 2015, he was head
of equity capital markets at Miller Tabak & Company and
Managing Director of Equity Capital Markets at Direct Access
Partners.
Mr. Gabor’s 27 years of investment industry experience
provides him with a depth of knowledge in numerous areas,
including structured products, futures and options, equities
and equity derivatives, and market neutral strategies.
Fun Fact: Joe was a 4-year academic scholarship recipient
at the University of Pennsylvania, and a defensive end on the
Varsity football squad.

PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. THERE IS THE RISK OF LOSS AS WELL AS THE OPPORTUNITY FOR
GAIN WHEN INVESTING WITH BRANDYWINE. BRANDYWINE’S INVESTMENT PROGRAMS ARE ONLY AVAILABLE TO INVESTORS THAT QUALIFY
AS “QUALIFIED ELIGIBLE PARTICIPANTS” AS THAT TERM IS DEFINED IN CFTC REG. SECTION 4.7(a)(2) PROMULGATED UNDER THE COMMODITY
EXCHANGE ACT, WHICH ARE QUALIFIED TO INVEST IN THE PROGRAMS BY (a) THEIR KNOWLEDGE AND ACCEPTANCE OF THE RISKS 1
ASSOCIATED WITH HIGHLY LEVERAGED SECURITIES AND FUTURES TRADING AND (b) THEIR FINANCIAL ABILITY TO ACCEPT SUCH RISK.