Dave Umstead is an experienced investment professional pursuing a lifelong passion of marrying technology and investments. Dave founded Cape Ann Capital in 1999, and remains an active member of the firm as managing principal. Dave’s foray into advanced analytics began four decades ago in a shoe factory where he used software to maximize efficiency of an assembly line. The shoe factory experience left Dave with a burning desire to apply analytics to improve processes and outcomes.

Dave’s interest in using technology to make better investment decisions originated during his studies at Boston University. Concluding his academic tenure, Dave joined Putnam Management as Director of Quantitative Research and installed the first computer at the firm dedicated to investment research. Subsequently, Dave headed up the international equity group at State Street Global Advisors, focusing on applying quantitative techniques for investing overseas.

Throughout his career, Dave has held numerous leadership roles in the financial services industry, including serving on the faculty of The Wharton School, working at State Street Global Advisors as head of international investments, and co-founding Boston International Advisors, Inc. Dave has earned a B.S. in mechanical engineering from the University of Vermont, an M.S. in mechanical engineering from MIT, an MBA from Boston University, and a Ph.D. in finance from the University of North Carolina at Chapel Hill.

On an ongoing basis, Dave is on retainer with the CFA Institute to educate its members on the use of returns-based style analysis, a statistical technique that helps to separate skill from luck in the analysis of investment performance. Dave is an avid outdoorsman and enjoys skiing, hiking, and sailing with his family and friends.