Risk Research Inc., publisher of SuperGrowth MultiBaggers, was founded in 2013 by Roderick MacIver as a consulting firm and software developer for mutual and hedge funds.
Rod has been involved in real estate and stock/bond market investing since 1978. The businesses he has founded and built include Heron Dance Press, which grew at over fifty percent a year for fifteen years. That experience has been important to the development of the analytical techniques that underlie this work.
His business career began in Ottawa, Canada as a commercial real estate agent and investor in small apartment buildings. He managed money in his mid-twenties with Connor, Clark in Toronto, and then founded Roderick MacIver & Co. Inc., an investment research firm, in New York City. That firm focused on distressed and deeply-undervalued securities. Roderick MacIver & Co. Inc had over 100 institutional and corporate clients who paid between $10,000 and $60,000 a year for the firm’s research. See 1987 Barron’s article.
Risk Research Inc. evolved out of work Rod did in the early and mid-1980s for activist and special situation investors including Leucadia, Sam Zell, Jay Jordan, Richard Rainwater and an Australian company, Industrial Equity, as well as institutions including the Royce Value Trust, Fidelity and T. Rowe Price. The focus at that time was on out-of-favor and distressed securities, including the bonds of companies in default. Most of the work was investigative in nature. Rod would interview former senior executives, former directors, customers, competitors, etc. and even sometimes sit in bars outside factories and talk to workers when they came off shift about where the skeletons may be hidden.
Running businesses, and the increased availability of online databases (there was no “online” in the 1980s) led to increasing emphasis on financial statement analysis. Starting in 2007, and working with Python coders and Excel/Visual Basic experts, Rod began work on the software that underlies this research.
Initially, the software used in this research was developed as part of consulting work for hedge and mutual funds. To reduce the amount of travel involved in consulting work and client meetings, our research has gradually shifted to a focus on providing detailed financial statement trend analysis to professional investors on a report or subscription basis.
In addition to his business career, Rod was a successful nature artist for twenty-five years. He’s published several books of his art and writing, most of which are still on Amazon and in print.
He divides his time between homes in Vermont and New York.