Peter Demirali, RIP

Peter Demirali, deceased
David Kotok
November 2, 2012

Petrit (Peter) M. Demirali (January 30, 1960 – October 30, 2012)

Everyone at Cumberland Advisors, along with colleagues, clients, consultants, and friends, mourns the loss of Peter Demirali. His sudden death is a shock. He is sorely missed.

It certainly gives a person pause. One week he is 52, robust, friendly, big hearted, skilled, professional, vigorous, and full of life. The next week, he is gone.

Peter joined the firm over a decade ago. He was a Managing Director, Portfolio Manager, Investment Advisor, and good friend. Through his life, Peter respected his family, honored his commitments made in the business world, exhibited the highest qualities of ethics and evidenced his own character by looking out for his fellow man. Peter was a champion of those who were downtrodden.  Peter was their advocate.

In his professional relationships, Peter excelled. Many who knew him, worked with him, traded with him, and strategized with him.  They saw his centering and calming influence. He had a sense of humor and used it in building relationships. He was able to relax, kick back, go fishing, talk about a good wine over a meal or share humor with a good joke.

For this writer, Peter’s death is a deep personal and professional loss. The memories of Peter and his son Ben at our annual fishing gathering in Maine will stay with me and our colleagues for many years to come. Those memories will be cherished.

Cumberland Advisors will proceed as it has in the past to service our clients, grow our firm, and advance our notion of an investment advisor who is oriented towards each separate account’s purpose. The depth of this activity and its professional application of Peter’s skills will be continued. The staff that he supervised and his other Cumberland colleagues will help honor and respect his memory.

For me personally, this is now the third time I have lost a partner. First, a family member and a founding partner, Shep Goldberg, departed us in his time of retirement. Shep and I founded Cumberland in 1973. Over a decade ago, we lost Suzanne Greenberg who fell victim to breast cancer and died at the age of 53. Peter Demirali suddenly and tragically left us at age 52.

Three times we have been tested.  Three times we affirm the resilience of a firm that puts families, relationships, and personal affiliations in the fore of its business activity and with personal caring.

We mourn the loss of Peter; we honor him; we respect him.

May he rest in peace.

David R. Kotok, Chairman and Chief Investment Officer