This executive profile summarizes the experience of a top-ranked macro interest rate and economic strategist with over 25 years of experience in US fixed-income markets. He has held senior positions at major investment banks and currently works as a partner and head of interest rate strategy at CRT Capital. He employs diverse analytical tools and has a track record of accurately forecasting interest rate movements. His commentary reaches over 2,500 investment professionals daily.

1. EXECUTIVE PROFILE
MACRO INTEREST RATE AND ECONOMIC STRATEGIST
Top-ranked investment strategist specializing in US fixed-income markets and interest-rate strategy and direction from a
macroeconomic perspective I have held senior positions atmajor investment banks and financial information firms and have been
a member of investment policy committees, management teams, and a key client-facing “name” representing those firms
I employ a diverse range of tools in my work including macroeconomics, flow and technical analysis, demographics, investment
behavior cross market valuation. Many of the people I’ve mentored have gone on to enviable positions at hedge funds and
institutional investors and research positions on Wall Street. I’ve managed teams of various sizes both domestically and globally.
My writing style makes the arcane intelligible; Bloomberg reporters have termed me ‘the voice of reason’ when it comes to fixed-
income markets and macroeconomics. I am constantly sought out by institutional fixed-income investors for my views on market
direction. These investors range from public and private pension funds to insurance companies and mutual funds to bank
portfolios, central banks, and broker dealers.
My commentary reaches well in excess of 2,500 investment professionals every day.
Value Added
 Long track record of foretelling interest-rate direction – 25 year experience, 11 years as Institutional Investor’s #1
ranked Government Bond Strategistand seven years as #1 or #2 in Technical Analysis,fiveyears as Runner Up in
General Fixed Income
 Have presented views to groups as small as oneto as largeas 1,000 – Would be very effective at presenting to
potential clients on investment strategy and capabilities
 Work includes very visual graphics,compelling tables –Adept at making the arcaneintelligible
 Have developed strong relationships with policy makers atcentral banks,sovereign wealth funds and international
financeorganizations –Envision building upon these to determine global macro themes
 Quickly digestoften tedious research and translate/interpretfor trader and investor audience– Envision helping
portfolio managers understand the relevance and value of outsideresearch crossing their desks
 Have a compellingand readablewriting style– My works is read by an audience of over 2,500 professionals
 Contributing columnistto Barron’s,Bloomberg, the Financial Times.
PROFESSIONAL EXPERIENCE
CRT Capital LLC – Stamford, CT August 2009 – June 2016
Partner and Head of Interest Rate Strategy
 Joined CRT at height of financial crisis with a team led by the former CEOs of Greenwich Capital (seebelow) to transform
then-troubled CRT into a major institutional brokeragefirm– My role was to provide a ‘name’ or brand to CRT as a well-
known market persona and to ensure a steady stream of relevant and cogent market analysis.
 I presented our views on the broader markets, economy, and opportunities to potential privateequity investors and the
Federal Reserve. We successfully raised thecapital soughtthough our plans for ‘Primary Dealership’with the Fed have
stalled.
DAVID ADER 203-293-5155
dader1776@gmail.com
62 WoodsideAve
Westport, CT 06880

2.  Whileat CRT, I have been ranked #1 in Government Bond Market Strategy by Institutional Investor’s poll for 2009-2015,
inclusive,and #1 in Technical Analysis in 2012-15,inclusive,and #2 or #3 prior to that. (I also held the #1 Government Bond
Strategy rank from 2006-08 whileatGreenwich Capital/RBS.)
 My research and commentary reaches over 2,500 institutional clients. Thatwork includes daily and weekly commentary on
market developments, market direction,and analysis of the multitude of market influences. I present these ideas with an
engaging writing style, clarity and conviction,as well as visual (charts) and quantitativesupportfor my views.
 I am particularly respected becauseI providea view of the markets and economy from the ’40,000 foot’ perspective and
capture major macro influences early in the process. Specifics herearenumerous but includerecognizing the potential for
the housing crisis in 2006,thedepth and longevity of Fed policy sincethe crisis of 2008,strategic assetallocation moves to
the long end of the US yield curve over the course of 2014.
 Though I have a keen grasp of the bigpicture, I provide transactional tradeideas aboutnear-term market direction both
outright, relativeto the yield curve and vs. other markets.
 I have met with over 225 clients and we’ve ‘opened’ a majority of those in terms of trading lines.
 Aside from meetings I’ve presented at various conferences and been a frequent guest on Bloomberg Radio and been quoted
by Bloomberg TV, CNBC, The Financial Times,The Wall Street Journal and Barron’s to name the major media outlets.
Greenwich Capital/RBS – Greenwich, CT 2003 – 2009
Global Head of Interest Rate Strategy (2007 – 2009)
 My main rolehere was very similar to the one I hold at CRT as a macro-interest rate strategist. The main differences are that
1) I managed a team of strategists both domestically and globally,and 2) I provided less pureeconomic analysis aswehad
many economists on staff.
 The team consisted of US Agency, Derivatives and Quantitativestrategists and the global team had specific regional interest
rate strategist. At the peak, there were 10 people reporting to me directly.
 My promotion was a resultof the firm’s recognition of my approach to the strategy and marketing that strategy as well as
the fact that over the courseof multipletrips to clients in North America, Europe, Asia and the MiddleEast I had developed a
strong rapportwith both clients and my colleagues in offices. Too, I spent some time mentoring our people and sharing
‘best practices.’
 During my time with Greenwich/RBS I visited over 500 clients,took partin many economic panels,and presented at various
conferences as a guest speaker. The latter included the Government Organizations Investors Association,central bank
conferences, and privateconferences sponsored by individual firms.
 Received Institutional Investor #1 ranking in Government Bond Strategy and shared #1 in General Bond strategy.
Head of Government Bond Strategy (2006 – 2007)
 I was promoted upon the departure of my boss and assumed full responsibilities for maintaining our work and finding my
replacement. I did the latter hiring an analystfromthe Federal Reserve Bank of New York. We spoke often about market
conditions (a key rolefor a rates strategistata primary dealer) which is how we met. We continue to work together at CRT.
 Received #1 ranking in Government Bond Strategy in 2007 and #1 in 2007.
 This period was a successful transition timeas I sought to develop my own reputation and style and develop strong working
relationships with RBS economists and strategists and our global sales effort. This involved traveling about25% of the time.
Senior Interest Rate Strategist (2003 – 2005)
 Joined Greenwich to move to a major dealership and join my former assistantwho was now Head of Rates Strategy at
Greenwich as his #2. Greenwich was also a clientof the firm I was leaving and was familiar with my work.
 In this role I worked as a team with the head to expand our research into markets and provide more of an expansiveview.
Too, I added more frequent commentary and research notes improving our technical and flowanalysis.
 I expanded our franchiseand reputation overseas and took over most of the international meetings and global perspectives
along with developing working relationships with Greenwich/RBS staff across various assetclasses.
Thomson Financial/International Financing Review – Boston, MA 1989 – 2003
Chief Global Analyst
 Joined Thomson after a stintin financial journalism. I had written about the Technical Data group at Thomson and they
contacted me to startup a ‘fundamental’ analytical group.
 The Chief Global Analystrolewas preceded by various positions and titlewhich essentially changed as thefundamental
group and technical groups coalesced under my directiveto create a unified market view utilizing various disciplines.
 During my tenure, readership quadrupled for of the services under the TechData/IFR umbrella.

3.  Thomson/IFR’s analytical group continues to existunder Thomson Reuters. However, when I started there were eight
competing firms and today there are only two. I attribute some of that to the styleof analysis thatI created and managed
during my years in Boston.
BondWeek – New York, NY 1986 – 1989
Managing Editor
 Rose from AssociateEditor to senior Editor to Managing Editor of this industry newsletter in justover one year. BondWeek
combined industry gossip and business development with articles on various topics related to the bond market including
interviews with major economists, investors,and public officials.
 Knowing littleabout bonds I ‘took’ to the job and gained industry and market knowledge very quickly via meetings with
‘sources’includingtraders,salesmen,economist and investors to both get story ideas and learn about the business. 26
years later some of these original sources and I arestill in contact.
 I developed a quick and clever writing stylethat honed in on the key element to a given development or story and cut-to-
the-chase of its importance and relevance. This is a skill I valuehighly and has served me well over the course of my career
in the bond market.
EDUCATION
Columbia University – New York, NY
Master’s from the School of International and Public Affairs,1982. Degree with Honors
 Focus on international business.
Tufts University – Medford, MA
Bachelors in Political Science,cumlaude, 1980
SKILLS, INTERESTS and OTHER DETAILS
 Member of the Economics Club of New York
 Hold series 7 and 63
 Avid fly fisherman and fished throughout New England and have fished the high Arctic, New Zealand and the American West
 Climbed Mt Kilimanjaro for TV show “Born to Explore” in March 2014 – This will airin the fall.
 Freelance writer with articles on wilderness survival,Revolutionary War re-enacting,economics and kayaking