Headwaters Profiles


Latham W. ‘Skip’ Murfey III, CFA, President

Skip has over 40 years experience in the investment industry, including the last 25 years as President of Headwaters Investment Counsel, LLC and its predecessor Murfey Asset Management. Skip's previous experience was with Dean Witter as VP and Branch Manager, and Senior Investment Officer of Bank One Cleveland. Skip graduated with his Bachelor in Finance from the University of Colorado and is a Chartered Financial Analyst.

Peter M. Bennett

Peter M. Bennett, Managing Director

Peter has over 25 years experience in the investment management industry. Peter began his career in London with Morgan Stanley Asset Management to develop multiple international investment products for US pension fund clients. During that time he launched the Turkish Investment Fund on the NYSE. Peter then went on to launch the BCM Emerging Market Funds in London, which was the #1 Lipper Overseas fund. Peter was also the founder and portfolio manager for Applied Income Sciences fund in San Francisco, which bought over $11B in distressed debt from 2003 to 2012. The operation was sold in June 2012 to Credit Corporation of Australia, which is the largest debt buyer in Australia. Peter is a graduate of The Johns Hopkins University and The School for International Training in Berlin and he is an Advisory Council Member of The Buck Institute for Research on Aging and the International Council for the National University of Singapore Medical School.

Michael S. Karder

Michael S. Karder, Managing Director

Michael has been in the financial services industry for over 20 years serving high net worth and institutional clients. Prior to his role at Headwaters, Michael worked for Merrill Lynch in private wealth management, managed his own hedge fund and worked in middle market investment banking. For the 20 years prior to working in the financial service industry, Michael managed his family machine company serving as CFO and President. Michael graduated from the University of Akron with a Bachelor of Science in Business Administration.

William H. Murfey, Jr.

William H. Murfey, Jr., Investment Analyst

William assists in the financial modeling, advanced analytics, performance measurement, investment and portfolio management research. William Received his Bachelor in Finance from Kent State University.

Headwaters retains Ned Davis Research Group to assist the team with their proprietary valuation model, algorithm, and advanced data mining research projects.

CFA Code & Ethics

The CFA Institute Code of Ethics and Standards of Professional Conduct are fundamental to the values of CFA Institute and essential to achieving its mission to lead the investment profession globally by setting high standards of education, integrity, and professional excellence.

As members, we are bound by the following codes:

CFA Code (PDF)

CFA Ethics Pledge (PDF)