Our guest, Dr. Elliot Fishman, is the founder and CEO of Astrina, Inc., an economist, and a sought-after expert witness. Dr. Fishman holds advanced degrees including an MBA from Wharton and a PhD from the University of Pennsylvania.  

In this episode . . . 

As a former finance professor and partner of a private equity fund, Dr. Fishman offers discerning opinions reflecting a unique combination of financial theory and customary industry practice. He’s worked on very big cases starting with a derivative to the $83 billion Madoff securities fraud. He recounts how he was brought in to review an earlier expert witness report on the Madoff-related case, stating, “I put on my college professor’s hat and found some issues with how the report was read. I suggested a different way of looking at it.” He elaborates, “ . . . even though they [previous experts] came from big firms, they could not look at it the same way I was able to as both a college professor and having practiced on the street portfolio. Economics is not merely an accounting exercise. It is not merely a corporate finance exercise. You need to understand how the securities are issued, to whom they are issued, and how they are issued to apply the appropriate discounts."

Other topics include preparation, staying current in your field of expertise, when to say “no” to a case and how to present yourself as an expert in the best manner. When asked for any advice to new experts, he states, “Yes, something comes to mind with that question and that is to persevere . . . You are going to have many setbacks and many detractors early on in your career, and you are going to get passed over for many assignments where you think you are qualified. Keep your name out there, do good work, and do some pro bono work. If it gets your name in circulation, it is all worthwhile.”