Dennis Leibowitz has more than 50 years of investment experience, both as a well-known Wall Street media and telecommunications analyst, and then as founder and principal of Act II Partners, a hedge fund devoted to the TMT space.

Dennis was recognized as one of Wall Street’s leading analysts by the industry’s well known Institutional Analyst magazine, having been voted the number one analyst in this category for 18 consecutive years, ranking among the all time record holders and being awarded recognition in the II All-American Hall of Fame. He was recognized for his analytical innovations in breaking away from EPS metrics to focusing on free cash flow in the cable industry, and for the concept of “per pop” valuations in cellular when the original non Bell companies’ networks had multiple owners.

Dennis was also heavily involved in the investment banking activities in his sectors at Donaldson, Lufkin and Jenrette, where he spent most of his analytical career. This included research coverage and banking in the cable industry, and he was the first analyst to promote the potential growth of wireless at the industry’s beginnings in the early 1980’s. His “Dick Tracy” reports predicting the future trends of cellular telephone adoption were a well known trademark.

With Dennis’ involvement, DLJ did many of the largest cable and wireless deals for companies like Comcast and John Malone’s Liberty Media. Dennis and DLJ were also the lead bankers or co managers in virtually all the IPOs in the cellular industry, and subsequently in the mergers of many of the affiliates of the largest carriers. This included the sale of the largest independent wireless company, McCaw Cellular, to AT&T and of the predecessor of TMobile to Deutsche Telekom, now its largest shareholder. Dennis was also involved in such media M&A as the sale of MTV to Viacom by Warner Communications and of Liberty Media predecessor Tele-Communications’ cable systems, then the largest in the U.S., also to AT&T.

Dennis received a Bachelor of Science in Economics from the Wharton School of the University of Pennsylvania. Today, he continues his investment research, particularly in his areas of his expertise, for himself and his family, as well as acting as the Executive Director for King’s Ransom Group.