Randall Motland is the Founder, President and sole stockholder of SAI. He has overall responsibility for the investment strategy, asset allocation and security selection for SAI. Mr. Motland has more than 26 years of professional investment experience, primarily as a principal of SAI. Previous investment experience was attained as an employee of Merrill Lynch for approximately four years including time as a stock analyst in their research department. Prior to founding SAI in 1981, Mr. Motland had co-founded and managed two educational publishing companies. Guidance Associates, Inc. was started in 1962 and after becoming one of the premier educational audio-visual publishers at the time, it was acquired by Harcourt Brace. Shortly thereafter, Mr. Motland co-founded a second successful publishing company, The Center for Humanities, Inc. Mr. Motland is a graduate of Princeton University with a bachelor’s degree in Economics and did advanced study in investments at New York University.