Julie Biel, CFA

Chief Market Strategist, Portfolio Manager and Senior Research Analyst

Start Date
Industry: 2004
KAR: 2013
Research Experience: 2004
Sector Coverage

Small and mid-capitalization information technology and healthcare

Education
  • MBA, University of California, Los Angeles
  • B.A., Economics and Psychology, New York University
Prior Work Experience
  • Equity Research Associate – Imperial Capital
  • Equity Research Associate – Merrill Lynch

What Do You Enjoy Most About Your Job?
I love our process and philosophy and will tell anyone who listens about it. Most investors have to have an opinion on every stock, because if it’s cheap enough, you should buy it. You can sometimes get into stocks with businesses you’re not quite sure about because they’re cheap. At Kayne, if I come across a business and can be pretty sure it will never reach our quality standards, I don’t need to do any more work. I don’t need to agonize that at some magic price, we should buy it. This gives me so much more time and headspace to just focus on understanding the quality businesses we own and new candidates we could invest in.

What Do You Enjoy Most About Working at KAR?
I feel really lucky to work with such humble people who really try to take the emotion and ego out of investing. Some of our PMs have records anyone would dream of, but you can go into their office, and the first thing they’ll tell you is all the mistakes they’ve made. For most PMs, you could spend an hour talking to them about how things are going lately, and you wouldn’t really be able to tell if they’re having a good quarter or bad quarter just by their moods. The long-term focus and a conviction in quality really shines through the team. The temperament of our team, patient–thoughtful, and thorough–is what really sets us apart.

What Are You Involved in Outside of Work?
Outside of work, I ride and compete horses in show jumping. The competitions are based on jumping the fences cleanly and quickly. It’s a huge rush of adrenaline, but it is also about the relationship you build with an animal without words. It satisfies both a need to compete, as well as a chance to connect. It’s also so expensive, I’ll never be able to retire from KAR 🙂

This information is being provided by KAR for illustrative purposes only. Information contained on this site is not intended by KAR to be interpreted as investment advice, a recommendation or solicitation to purchase securities, or a recommendation of a particular course of action and has not been updated since the date of the material, and KAR does not undertake to update the information presented should it change. This information is based on KAR’s opinions at the time of the publication of this material and are subject to change based on market activity. There is no guarantee that any forecasts made will come to pass. KAR makes no warranty as to the accuracy or reliability of the information contained herein.  The information provided here should not be considered to be insurance, legal, or tax advice and all investors should consult their insurance, legal, and tax professionals about the specifics of their own insurance, estate, and tax situations to determine any proper course of action for them. KAR does not provide insurance, legal, or tax advice, and information presented here may not be true or applicable for all investor situations. Additional information about KAR’s services and fees may be found in KAR’s Part 2A of Form ADV, which is available upon request or can be found at https://kayne.com/wp-content/uploads/ADV-Part-2A.pdf.

Contact Julie Biel, CFA

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