Managing money since 1969, Mr. Pecoraro’s career includes experience as a security analyst with Security
Pacific National Bank and the British brokerage firm, Joseph Sebags, in Los Angeles and London. Mr.
Pecoraro was a top performing fund manager with the Oppenheimer Funds Group from 1974 through 1981,
after which he helped form an investment advisory firm, Alpine Capital Management, which he sold in 1988
to form PVG Asset Management. Mr. Pecoraro developed the Loss Averse Investing approach during 1998/1999
when he became concerned about the possibility of unfavorable future market conditions and the impact of
such conditions on clients. He earned MS and BA Economics degrees from California State University,
Fullerton.