Peter C. Stimes, CFA, is a retired vice president and principal of Flaherty & Crumrine Incorporated. During his sixteen years with F&C, Stimes acted as a portfolio manager, head of quantitative research and securities analysis, and spent several years as treasurer and CFO of the closed-end funds managed by F&C. Stimes is actively involved with the CFA program and has been part of the CFA Voluntary Continuing Education Program since 1985. He has written and coauthored papers presented before the CFA Institute and various regulatory and legislative bodies. Stimes received both his undergraduate degree and his MBA from the University of Chicago.