The Leadership Team behind
Forward Portfolio

Dr. Michael A. Sklarz is a distinguished real estate economist and is credited as one of the early founders of the automated valuation model (AVM) for real estate valuation. He was the founder of Collateral Analytics, a Honolulu‑based company that delivered advanced analytic tools and data-driven solutions to real estate professionals, investors, appraisers, and financial institutions. Collateral Analytics was acquired by Black Knight, Inc. in 2020, which was subsequently acquired by ICE, the Intercontinental Exchange, a financial services company, in 2023.

Dr. Sklarz is frequently cited in academic and industry research, with over 50 publications and nearly 500 citations, underscoring his influence in the field. His collaborations include publishing real estate market studies and valuation insights alongside notable academics.

‍

Dr. Norm Miller is an Emeritus Professor at the University of San Diego and the University of Cincinnati, and Vice-President of the Homer Hoyt Institute, a think tank of global urban economic scholars and industry research directors. He is a housing, finance and capital markets expert. He started the Journal of Sustainable Real Estate and served as the President of the American Real Estate Society.

With over four decades of academic, consulting, and litigation experience, Dr. Miller has contributed extensively to the fields of housing economics, mortgage risk, valuation methodologies - including automated valuation models (AVMs) and sustainable real estate practices. He co-authored the globally acclaimed graduate textbook Commercial Real Estate Analysis and Investment, now in its fourth edition.

Stefan Pampulov is a technology leader and entrepreneur with over three decades of experience in the financial technology sector. He has been building high performance teams, driving digital innovation and has launched a variety of digital products serving the financial technology industry, supporting direct to consumer adoption. Mr. Pampulov was a co-founder of Collateral Analytics where he focused on building derivative analytic products designed for the financial industry which were licensed by the largest banks in the United States. He has served on the Forbes Technology Committee and co-authored the book Back to the Future Portfolios which presents a forward-looking approach to stock selection and portfolio construction, combining analyst expectations, market-implied risk, and modern portfolio theory to help investors make more informed decisions.