Paul Nisbet

Renowned for unrivalled, in-depth knowledge of military weapons programs and commercial aircraft, Paul started JSA Research in 1993. Now based on forty-seven years of industry experience, he systematically produces line item-by-line item, product-by-product analyses, with five year revenue and earnings histories and forecasts, for each of the large publicly traded U.S. Aerospace/Defense companies. Subsumed in his reports, is history and perspective unmatched by anyone in or out of government, or the private sector, providing investors the intermediate and longer term context necessary for evaluating the stock significance of breaking news. Paul supplements his stock research with detailed analyses of annual Department of Defense budget requests as well as annual commercial airliner forecasts and private/custom studies on helicopters or business aviation. This long shelf-life research is leavened with timely analyses of the breaking industry and political events of the day.

Paul followed up four years of military service with 15 years in technical, management and consulting positions in the aerospace and shipbuilding industry, and since 1976 as a financial securities analyst. Wall Street experience includes Defense/Transportation analyst with Smith Barney’s Research From Washington (RFW), Inc, Managing Director of RFW and Aerospace/Defense Electronics analyst with Prudential Securities. He was named to the Institutional Investor all-star team ten times, has placed five times amongst the Wall Street Journal’s top aerospace stock pickers and consistently ranked as a leader in Greenwich Associates surveys. Paul studied at Ohio State, George Washington University and holds a B.A. from American University.

Rick Whittington

Rick joined JSA Research in the fall of 2007 to rejoin Paul from their days at Prudential Securities in the early-mid 1980s covering the Aerospace/Defense Electronics sector. After military service, Rick worked in the Defense Department and Rand Corporation in 1977-1978, then a succession of sell- and buy-side jobs as Defense Electronics, Semiconductor analyst and Research Director. Prior to JSA Research, Rick most recently covered Aerospace/Defense while also serving as Research Director and Semiconductor analyst at American Technology Research, Inc. in 2002 and 2003, and co-covered Aerospace/Industrial Infrastructure at Caris & Company in 2005 through 2007 in similar vein. Known for macro-cyclical and strategic stock picks, in the past half dozen years he has written on the rise of U.S. industrial technology and infrastructure as The New Growth, as well as focused on the need for rebuilding the U.S. military. His Global Integrated Growth (GIG) theme predicts strong sustaining fundamentals in energy, agriculture, transportation and industrial technology as well as commercial aviation and U.S. defense spending. As a defense budget/strategic planning analyst in the late 1970s and from a second-generation career military family, Rick’s sensitivity to domestic and international politics shapes his longer range views. He has a B.A. Economics with High Distinction (Phi Beta Kappa) from the University of Rochester and a two-year M.P.A. International Politics/Economics from the Kennedy School of Government, Harvard University.