Executive Vice-President & Macro-economist

Lew Spellman. PhD is a Professor Emeritus at the McCombs School of Business at the University of Texas at Austin. He was a professor of financial markets and institutions from 1971 to his retirement in 2019. Professor Spellman holds degrees of BBA and MBA from the University of Michigan, and MA and PhD in economics from Stanford University.

Professor Spellman’s academic courses consist of analyzing current economic and monetary policy developments as they relate to financial market pricing. His academic articles have appeared in the Journal of Finance, Journal of Financialand Quantitative Analysis, Journal of Money Credit and Banking and the Journal of Banking and Finance, among others.  He holds several U.S. patents relating to inflation adjusting financial instruments, including the U.S Treasury’s inflation adjusting bond, known as the Treasury TIPS.

Professor Spellman’s prior experience outside of academia has included serving as Assistant to the Chairman of the President’s Council of Economic Advisors, Economist with the Federal Reserve Board, and Chairman of Real Rate Financial.  He lives in Austin and enjoys traveling worldwide.



Beck Capital Management is an SEC-registered investment manager serving high net-worth individuals, family offices, endowments, trusts, corporations and pension plan sponsors. We design custom portfolios that seek each client’s target rate of return, commensurate with the tolerance for volatility. We have a fiduciary duty to our clients and are fee-based.  We are different from other investment management firms in many significant ways. Learn more.

Our predecessor firm was founded in 1997, specializing in investment management and tax planning for high net-worth individuals. Over time, we have grown our capabilities in original research and portfolio management. Our three investment committee professionals have over 75 years of combined finance and investment experience. Our macro-economist holds a PhD from Stanford University and has worked at the President’s Council of Economic Advisors and the Federal Reserve. Learn more

We start with a macro-economic “30,000 foot view” that incorporates industry-sector developments, secular trends, money flows, monetary policies and news events.  We then follow with a rigorous, repeatable, data-based research process designed to uncover the best managed business within their respective industry groups.  Further, we believe that simply avoiding the weakest sectors of the market adds meaningfully to performance. Learn more