Here is what some of our clients have to say
about Nef Value Research.
    "Nef Value Research helps us to keep our labor costs low, while
    still allowing us to have top-shelf buyside research.  Being in
    Buffalo, we found it hard to lure experienced analysts away from
    the financial centers of New York and Boston. Nef Value Research
    provides us with professional research at a cost below what we
    were paying for junior analysts. Wayne and his staff average over
    15 years’ experience each and have developed a good rapport with
    our portfolio managers."

    Paul Olszewski - Research Director
    Harold C. Brown & Co., LLC
    "I have been a client of Nef Value research since its inception. I
    feel the services they provide are additive to my research process
    and additive to my overall P&L. I have extreme confidence in the
    research of NVR, and the depth of the knowledge of years of
    industry research that supports it."

    Stephen M. Schwartz - Portfolio Manager
    CAVU Capital Advisors
Nef Value Research L.L.C.
    "Nef Value Research gives us an added level of alpha that is a
    different view than typical research shops.  His idea generation is
    thorough yet succinct, and monthly retail sales analysis helps us
    cut through the clutter than surrounds that week.  Definitely an
    asset to any money manager."

      John Black - Trader
      Prentice Capital
    "Wayne's tear sheets and market color are an invaluable part of my
    business.  Wayne's service has increased my productivity
    substantially particularly during earnings season. His tear sheets
    allow me to quickly analyze the quality of reported earnings
    against street expectation and to subsequently take advantage of
    potential investment opportunities."      

    Eric Goldstein - Partner  
    First NY Securities LLC
    "I’ve known Wayne for over 10 years and I have always valued his
    fundamental, bottom up approach when evaluating companies.  
    His “no-nonsense” and “common sense” style within a top down,
    geopolitical framework has helped me identify those companies
    that the street so often misunderstands, misjudges, and most
    importantly, misprices.  Nef Value Research allows me to have a
    “value-bent” analyst on the team without the added cost of a full
    time employee.  His stock specific ideas within a thematic
    perspective are thoroughly vetted and presented in a timely and
    efficient manner.  I look forward to his morning overviews each
    and every day."

         Sam Tobias
         Portfolio Manager
         Circle T Partners
    "Wayne's prowess with retail stocks is well known, but it is his
    work with the homebuilding stocks that turned my head. A series
    of interviews I ran with him on my website were among the most
    popular and profitable I have ever published.

    Wayne's work on mortgage resets and the coming subprime
    mortgage crisis in the fall of 2006 were my wakeup call, and if you
    listened you made a fortune or saved yourself a bundle.

    Something tells me Wayne will warm up to the homebuilding
    stocks near the bottom. I am sitting on my hands, but not holding
    my breath. He is not yet constructive on the builders.

    Stay tuned."

    Kris Kelley
    1440 Wall Street