Professional Staff

Elizabeth Stone

Vice President

San Francisco
Tel: 415-263-2223
Fax: 415-391-8505

Ph.D. and M.A., economics, Stanford University; B.A., economics, Massachusetts Institute of Technology
Summary of Experience:
Dr. Stone specializes in securities, antitrust, and telecommunication matters. She has conducted economic analyses of market efficiency, loss causation, damages exposure, and price overcharges. Many of these engagements have involved mortgage-backed securities and loan repurchase demands by government-sponsored enterprises. Dr. Stone has evaluated damages attributable to alleged loan underwriting deficiencies; analyzed loan repurchase behavior; assessed statistical sampling methodologies; evaluated hedge fund trading strategies; and applied cost accounting concepts to the estimation of damages related to price overcharges. In her telecommunications work, Dr. Stone has conducted stock valuations related to wireless spectrum holdings, including an analysis of the profitability of TDD wireless technology and the supply of spectrum properly suited to that technology.  Her areas of academic research include uncertainty and investment, financial innovation and risk management in equity derivatives markets, and the price impact of naked short sales. Dr. Stone was previously an equity derivatives trader for Merrill Lynch & Co.