About Us
Walnut Oak Press produces reference materials for professionals. We specialize in precomputing difficult mathematical and statistical values and presenting the information in an easy to use format designed to provide superior solutions to everyday professional challenges.
We also research and publish educational materials helping readers develop their professional skills and knowledge for the growing data intensive economy.
Our solutions are aimed at financial analysts and economists, attorneys, financial planners, development officers, applied actuaries, accountants, and similar professionals.
About the Authors
G. Michael Phillips, Ph.D.
G. Michael Phillips began his consulting career as an econometrician and statistician in 1976. Mike’s current consulting focus is on data-intensive complex litigation, statistical sampling, and financial and economic modeling. Mike has provided consulting or expert services on over 1000 engagements and has testified in numerous federal and state courts. An award-winning scholar, he has authored or coauthored more than a dozen books and scholarly monographs, more than a dozen U.S. Patents, over five dozen published academic papers and chapters, and has delivered about 100 conference presentations and addresses throughout the world. Besides his affiliation with PFC, Mike is Professor of Finance, Financial Planning, and Insurance at the David Nazarian College of Business and Economics, California State University, Northridge, where he is also the Director of the Center for Financial Planning and Investment. He also serves as Chief Scientist for the Center for Computationally Advanced Statistical Techniques in Pasadena, CA, and is an advisor to MacroGrowth Advisors and Walnut Oak Capital.
Mike serves on the board of Foothill Academy of Vocal Arts, the University Corporation of CSU Northridge, and Volunteers of America, Los Angeles.
Mike received his B.S. in Mathematics and Economics from Illinois State University and his Ph.D. in Economics from the University of California, San Diego.
Mike is a co-author of books in the Mortality Factors for Valuation series, Beta Estimates for Valuation & Cost of Capital series, and the Sample Size Illustrations, Confidence Intervals, & Margins of Error series published by Walnut Oak Press.
David Fractor, Ph.D.
David Fractor is an expert consultant and a professor of Economics and Finance. For nearly 30 years David has served as a consultant for over 700 deposition and 300 trials and arbitrations, focusing on individual claim of loss relating to earnings and benefits, household services, or future medical needs as well as employment matters and personal injury/wrongful death assignments. He has substantial experience in asbestos-related litigation.
David has served as a professor of Economics and Finance for more than 20 years and is currently a faculty member at California State University, Northridge where he regularly teaches courses in Labor Economics and Law & Economics.
David received his B.A. in Economics from UCLA and his M.S. and Ph.D. degrees in Economics from the University of Oregon.
David is a co-author of books in the Mortality Factors for Valuation series published by Walnut Oak Press.
Dennis Halcoussis, Ph.D.
Dennis Halcoussis works as a consultant and expert on a variety of cases for Phillips, Fractor & Company, LLC, where he applies econometrics and other statistical theory to estimate losses in civil cases. He has served as a professor of econometrics at both the undergaduate and MBA level for 26 years and is currently a full-time faculty member at California State University, Northridge. Dennis received a Ph.D. in Economics from the University of Pennsylvania.
Dennis is a co-author of books in the Mortality Factors for Valuation series and the Sample Size Illustrations, Confidence Intervals, & Margins of Error series published by Walnut Oak Press and is also the author of an econometrics textbook, Understanding Econometrics.
James T. Chong, Ph.D.
James Chong brings industry and academic experience to his research in the econometrics of investment assets, and has extensive academic publications. His current research emphasizes how proper portfolio construction can better manage risk exposures in corporate and personal portfolios. James works with MacroRisk Analytics as a Research Economist, and, since 2003, has worked as a Professor of Finance at California State University, Northridge.
James received his undergraduate qualification in Accounting from Nanyang Technological University, an M.S. in Finance from Lancaster University, an M.S. in Financial Mathematics from The University of Chicago, and his Ph.D. in Finance from the ICMA Centre, The University of Reading.
James is a co-author of the Beta Estimates for Valuation & Cost of Capital series published by Walnut Oak Press.
William P. Jennings, Ph.D.
Since 1989, William P. Jennings has been a Professor of Finance at California State University, Northridge. From 2006 to 2012, he served as Dean of the David Nazarian College of Business and Economics at the University and from 2012 served as Foundation President and Interim Vice President for University Advancement at California State University, Northridge until his return to the classroom in fall, 2013. Currently, he is also Chief Invesment Strategist at MacroRisk Analytics and c4cast.com, Inc., which he co-founded in 1999.
Bill also has 25 years of experience as an economic consultant. Throughout his career, Jennings has been published in numerous scholarly journals such as Investments & Wealth Monitor, American Journal of Business Education, Journal of Wealth Management, Journal of Legal Economics, and Journal of Risk and Insurance. Jennings graduated from California State University, Hayward (now East Bay) with a B.A. in Economics before receiving both an M.A. and Ph.D. in Economics from University of California, Los Angeles.
Bill is a co-author of the Beta Estimates for Valuation & Cost of Capital series published by Walnut Oak Press.
Edward T. Garcia, M.S.
Edward T. Garcia has over a decade of experience consulting in personal injury, wrongful death, class action wage and hour, medical malpractice, employment-related issues, business litigation, business valuation, lost profits, pension valuation, and stockbroker negligence matters. Ed’s consulting has been focused on loss of earnings, loss of earning capacity, loss of fringe benefit analyses, loss of household services, and life care plan valuation and has valued hundreds of cases in these matters. In addition to consulting, Ed is an Adjunct Professor of Economics and Finance at Azusa Pacific University.
Ed has testified as an expert in depositions, binding arbitrations and trials in the State of California, Superior Court and Federal Court.
Ed received his B.S. in Business Administration with an emphasis on Corporate Finance from the University of Southern California, Marshall School of Business. He received his M.S. in Economics with an Economic Analysis Option in the Field of Money and Banking from the California State Polytechnic University, Pomona.
He is a co-author of books in the Mortality Factors for Valuation series published by Walnut Oak Press.
George Arzumanyan, CFA
George Arzumanyan has been a research associate at Phillips, Fractor & Company, LLC since 2013 where he provides expert witness support services in areas of statistics, finance and economics. He also performs investment research and analysis using macroeconomic information. Additionally, George is a portfolio manager for Walnut Oak Capital LLC. George graduated summa cum laude from California State University, Northridge with a Bachelor’s Degree in Business Administration with an emphasis on Global Supply Chain Management and Systems and Operations Management. He also minored in Finance and Marketing.
George is a co-author of the Beta Estimates for Valuation & Cost of Capital series and the Sample Size Illustrations, Confidence Intervals, & Margins of Error series published by Walnut Oak Press.
Laurel J. Fish
Laurel J. Fish works as a staff economist for Phillips, Fractor & Company, LLC and is pursuing graduate studies in Economics at California State Polytechnic University, Pomona. Laurel graduated magna cum laude from California State University, Northridge with Bachelor's Degrees in Economics and Business Administration with the Business Honors Program. She also minored in Mathematics with an emphasis in Statistics.
Laurel is a co-author of books in the Mortality Factors for Valuation series published by Walnut Oak Press.