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While some people say their financial advisors lead them to doze off, Marvin Appel, the 41-year-old CEO of Great Neck-based Appel Asset Management Corp., is actually trained to do just that.
Not that he's boring, or that his insights on the coming year in the stock market aren't fascinating. It's just that aside from his role as a leading figure in the area of statistical modeling of the stock market, managing about $70 million in money for about 200 clients around the country, Appel also happens to be a Harvard- trained medical doctor and a board-certified anesthesiologist.
A lifetime Great Neck resident, Appel earned the medical degree in 1991 and obtained a Ph.D. in biomedical engineering, also from Harvard, a year later. His intention was to become a practicing anesthesiologist. But after just one year in the field at Johns Hopkins University in Baltimore, Appel quickly decided to call it quits after he moved back to Long Island in 1996.
The prospect was job insecurity and a work schedule that wouldn't have permitted me time with my children, said Appel, who has three daughters aged 4 to 9. He soon joined his father, legendary technical stock analyst Gerald Appel, in the family money management business - collectively known as the Appel Financial Group. Both Appel Asset Management and his father's half of the business, Signalert Corp., operate out of the same Great Neck office managing client money. Collectively, the father-and-son team manage about $500 million, and put out the well-known...