David Trainer

David Trainer

Formal First Name

David Trainer is Founder and CEO of New Constructs, an independent research technology firm that provides unrivaled insights into the fundamentals and valuation of private and public businesses. Trainer is a prominent Wall Street veteran and corporate finance expert specializing in reversing accounting aberrations on the underlying economics of business performance and stock valuation. Prior to founding New Constructs in 2002, he spent over 6 years as a stock analyst on Wall Street. He joined Credit Suisse First Boston where he created an economic-based earnings model and brand for CSFB equity research. Trainer makes regular appearances in television and print, where he shares his insights on macroeconomic news, market trends, and individual stock insights. He also does leading-edge research on mutual funds and exchange-traded funds.

Professional Experience

Academic History



  • At Credit Suisse First Boston, he created an economic-based earnings model and brand for CSFB equity research.

  • He spearheaded the effort to apply consistent economic earnings analysis across all industries globally.

  • In 1997, he developed and managed the Value Dynamics Framework project, a separate business for CSFB across three continents.

  • In 1999, he applied value-based analysis to consumer finance, asset management, and broker-dealer firms.


  • In 2000, he covered the Customer Relationship Management Software industry at Epoch Partners, a firm acquired by Goldman Sachs in 2001.

  • At Epoch, he developed a proprietary framework that quantified the ROI of Customer Relationship Management Software products.

  • Prior to Wall Street, Mr. Trainer was an executive compensation consultant with Arthur Andersen.