The Wall Street Fund, symbol “WALLX” on NASDAQ, was launched on December 23, 1945. The Fund’s current principal portfolio manager is Robert P. Morse who has more than 30 years of investment experience and who has managed The Wall Street Fund for over 19 years. James L. Farrell, Jr., Ph.D., and Jian H. Wang also assist in managing the Fund. Mr. Morse, and the other officers and directors of The Wall Street Fund are significant shareholders in the Fund. The Fund’s Advisor and Distributor is Wall Street Management Corporation, a wholly owned subsidiary of Morse, Williams & Company, Inc.

Investment Objectives and Strategies

The Wall Street Fund’s primary investment objective is capital appreciation, through investments in a diversified portfolio of common stocks, which offer prospects of sustained growth in value. Current income from interest or dividends is a secondary objective. Large, medium and small capitalization growth stocks are selected, based on an analysis of a company’s growth prospects, financial ratios, past and expected future performance and the quality of corporate management. Our proprietary Alpha tools focus the investment process on good companies that are experiencing positive fundamental and sustainable changes that will benefit investors.

The Wall Street Fund Managers

Robert P. Morse – Chairman and President

r morseRobert P. Morse graduated from the Wharton School of the University of Pennsylvania (1967) and completed post-graduate studies in Advanced Currency Theory at Dowling College, Adelphi-Suffolk University (1970). He has over 30 years of investment experience with an extensive background in equity portfolio management in domestic and international markets. Prior to establishing his own investment management firm in 1981 he was a senior principal and portfolio manager of the investment counseling firm of William G. Campbell & Company. He also served as vice president and manager of the bond department of American Express W. H. Morton Company. Prior positions included: managing director of the American Express Eurobond operations in Paris; director of the American Express International Development Corporation in London; and advisor to the Zurich-based International Trust Division of Amex International Bank. He was also a principal of Hambrecht and Quist for seven years and an advisory director of Soundview Financial.

He served as an officer in the U.S. Navy and currently serves as trustee or director on various non-profit boards. Mr. Morse is married with three children.

James L. Farrell, Jr., Ph.D. – Executive Vice President

james farrellJames L. Farrell holds a Bachelor of Science degree in Economics from Notre Dame (1959), an M.B.A. degree in Finance from The Wharton School of the University of Pennsylvania (1962) and a Ph.D. degree in Finance and Economics from New York University (1972). A pioneer of the systematic approach to stock selection, based on the concept of “Alpha”, he has more than 30 years of experience as a security analyst, applied financial researcher and portfolio manager at major financial institutions. Beginning his career at College Retirement Equities Funds (CREF) and Citibank, N.A., in 1980 he founded MPT Associates, an investment counseling firm, to employ a strategy built around the “Alpha” approach to managing U. S. equities. He subsequently served in several investment management operations, most recently with Sumitomo Life Insurance Company.

Since 1976 he has served as chairman of the Institute for Quantitative Research in Finance (the “Q” Group), comprised of a wide variety of investors and Nobel laureates interested in expanding the science of investment management. He is a former outside Director of the Eastern Airlines Pilots Association. Jim Farrell has also served as an adjunct professor of finance at NYU and Columbia University and has written extensively on the investment process, including Portfolio Management, which is considered essential reading by many advanced business schools. He is married and has three children.

Jian H. Wang – Vice President and Treasurer

Jian wangJian H. Wang, a native of China, initially worked in sales for Siemens PC Division in Shanghai; he subsequently became an assistant to the director of the Mechanical Engineering Department of Tung-Ji University in Shanghai. He graduated from Long Island University (1991) and earned an MBA degree in Finance from New York Institute of Technology (1995). He has worked for two years in the options market, trading for various investors, and has been the head trader at Wall Street Management Corporation for over seven years.

Michael R. Linburn – Vice President, Secretary and Chief Compliance Officer

Michael R. Linburn holds a Bachelor of Science degree in Industrial Administration from Yale University (1954) and an M.B.A. degree from the Harvard Business School (1959). He spent 15 years in corporate finance with Shearson, Hammill & Co. Incorporated, where as a first vice president and voting stockholder he analyzed, structured and marketed debt and equity offerings. He later moved to Oppenheimer Properties, specializing in sale and leaseback transactions. From 1978 to 1992 he served as a senior marketing officer and consultant for several companies, including The Balcor Company, Angeles Corporation and The National Housing Partnership. His activities have included the analysis and marketing of limited partnership investments to individual and institutional clients of brokerage firms, and insurance companies. He is in charge of compliance and is active in new business development. He served as an officer in the United States Army and is married with three children.