Hubert Horan
Hubert Horan Aviation Consulting

Over his long career Hubert Horan has worked on many of the most critical issues in the field of transportation economics, including the impact of regulation and mergers on industry efficiency and consumer welfare. His early career focused on railroads and urban transport, and then shifted to aviation in the early 1980s. He recently emerged as one of the leading experts on the economics of Uber.

Horan was directly involved with all of the major changes aviation has seen including US deregulation, European liberalization, domestic and cross-border mergers, low-cost carrier development and bankruptcy restructuring. In addition to extensive consulting work he held airline management positions with Northwest, America West, Swissair and Sabena. He is a leading expert on international airline alliances, having developed the original Northwest-KLM alliance that served as the template for all subsequent global joint ventures.

He has testified on merger and competitive issues before the United States Congress and the Department of Transportation. His 2010 Transportation Law Journal article “Double Marginalization and the Counter-Revolution Against Liberal Airline Competition” documents how the DOT abandoned its longstanding market-friendly, pro-consumer policies in order to drive a radical consolidation of international aviation into a permanent cartel.

This background allowed Horan to become the leading independent expert on Uber and the urban car service industry. His 2019 American Affairs Journal article “Uber’s Path of Destruction” provides a comprehensive overview of why Uber cannot earn sustainable profits under competitive market conditions. His 2017 Transportation Law Journal article “Will the Growth of Uber Increase Economic Welfare?” provides greater detail on Uber’s lack of competitive economics, and how Uber manufactured narratives about its powerful technological innovations, its inevitable worldwide dominance of the taxi industry and why it warranted the third highest corporate value of any transportation company in world history.

Mr. Horan graduated from Wesleyan University with a B.A. degree and Honors in Economics, and from Yale University’s School of Management with an MPPM (MBA) degree. He is currently based in Phoenix, Arizona.

Conferences:

Fall 2019 - October 23

Past Conference Speakers

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Abrams, David - Abrams Capital, LLC

Ackman, William A. - Pershing Square Capital

Adams, John - Emeritus Professor of Geography, University College London

Aitken, James - Aitken Advisors, LLP

Akre, Chuck - Akre Capital Management

Alexander, Seth - MIT Investment Management Company

Anderson, Keith - Anderson Global Macro, LLC, Chairman and Chief Investment Officer

Arnott, Rob - Research Affiliates, Chairman

Aronson, Theodore - Aronson+Johnson+Ortiz

Aronstein, Michael C. - Preservation Group, LLC

Asness, Ph.D., Clifford S. - AQR Capital Management, LLC, Managing and Founding Principal

Avery, Dennis T. - Author

Ayer, James - Tiedemann/Ayer

B
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Banerji, Anirvan - Economic Cycle Research Institute

Bass, Kyle - Hayman Capital Management, Managing Member

Bassman, Harley - Simplify Asset Management

Battleson, Wendy - Art Strategy Partners

Beach, Bryan - Stansberry Research

Ben-Ur, David - Corbin Capital Partners

Berg, Gilchrist - Water Street Capital

Bernstein, William - Efficient Frontier Advisors

Bessent, Scott - Key Square Group

Bianco, James - Bianco Research, LLC

Black, Conrad

Bobrow, Barry - Wachovia Corp.

Bogle, John C - The Vanguard Group, Inc.

Boland, John - Remnant Partners

Bonderman, David - TPG Capital

Bregman, Steven - Horizon Kinetics, President, Co-Founder

Bronstein, Keith - TradeLink, LLC

Brosens, Frank - Taconic Capital Partners

Burbank, John - Passport Capital, LLC

Burn, Christopher - Coxe Advisors, LLC

Byrd, Frank - Fielder Capital Group, LLC

Byrne, John J. (Jack) - White Mountains Insurance Group

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Cannell, J. Carlo - Cannell Capital Management

Cantor, Mitch - Mountain Lake Investment Management

Casares, Wences - Xapo

Chancellor, Edward - Financial Historian

Chanos, James S. - Kynikos Associates, L.P., Founder and Managing Partner

Chiappinelli, Peter - Grantham, Mayo, Van Otterloo & Co.

Chilton, Jr., Richard L. - Chilton Investment Co.

Chu, Charlene - Autonomous Research

Cochrane, John H. - The University of Chicago Booth School of Business

Cohen, Martin - Cohen & Steers Capital Management

Cohodes, Marc - former managing partner of Copper River Management

Cole, Christopher - Artemis Capital Management

Cooperman, Leon - Omega Advisors, Inc.

Costantini, Giulia - Art Strategy Partners

Coxe, Don - Coxe Advisors, LLC

Curnutt, Dean - Macro Risk Advisors

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D'Alessandro, David - CMDTY Capital Management, LP

Daniels, Francis - Anibok Investment Research Chambers

Deden, Anthony - Edelweiss Holdings, Ltd., Chairman on the Executive Committee

Derman, Emanuel - Columbia University & Prisma Capital Partners

Diamond, Bob - Atlas Merchant Capital, Founder and CEO

Dias, Anne - Aragon Global Holdings

Dimon, Jamie - JPMorgan Chase & Co.

Divecha, Arjun - Grantham, Mayo, Van Otterloo & Co.

Dizard, John - The Financial Times

Doppstadt, Eric - Ford Foundation

Doyle, Mark - Sterling Grace Municpal

Druckenmiller, Stanley - Duquesne Family Office, LLC

Dudley, William - Federal Reserve Bank of New York

Duffy, Kevin - Bearing Asset Management

Dunbar, Nicholas - Risk Magazine

E
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Egan, Sean - Egan-Jones Rating Co.

Einhorn, David - Greenlight Capital, Inc.

Eisman, Steven - FrontPoint Partners

El-Erian, Mohamed - Harvard Management Co.

Ely, Bert - Ely & Company, Inc.

Erickson, Monica - DoubleLine Capital, L.P.

Eveillard, Jean-Marie - Arnhold & S. Bleichroeder Advisors, LLC - First Eagle Funds

F
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Falls, Amy - Rockefeller University

Farrell, Michael - Annaly Mortgage Management

Farrell, Bob - former head of research at Merrill Lynch

Feldman, Robert C. - Weil, Gotshal & Manges

Ferrari, Ph.D., Leonard A. - Naval Posgraduate School

Fidalgo, Miguel - Triarii Capital Management, LP

Fieler, Sean - Equinox Partners, LP

Fisher, Peter R. - Tuck School of Business at Dartmouth

Flatt, Bruce - Brookfield Asset Management, Inc.

Fleckenstein, William - Fleckenstein Capital, Inc.

Flowers, J. Christopher - J.C. Flowers & Co.

Frey, Felix - Options Consulting Group, LLC

Fridson, CFA, Martin - Lehmann Livian Fridson Advisors LLC, CIO

Friedman, Joshua - Canyon Partners, LLC

Friend, Robert - Recon Capital, LLC

Fronk, Rudi P. - Seabridge Gold, Inc.

Fuss, Daniel - Loomis, Sayles & Co.

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Galbraith, Steve - Herring Creek Capital Management, Managing Member

Gallagher, Thomas - ISI Group, Inc.

Gayner, Thomas - Markel Corp.

Gelernter, David - Yale University

Goehring, Leigh R. - Chilton Investment Co.

Goldstone, Larry - Thornburg Mortgage

Grant, James - Grant's Interest Rate Observer

Grantham, Jeremy - Grantham, Mayo, Van Otterloo & Co.

Gray, Jonathan - Blackstone Group

Greenberg, Maurice - C.V. Starr and Company

Greenig, Ph.D., Douglas - Greenwich Capital Markets

Greenspan, Alan - Greenspan Associates

Greenwald, Bruce - Columbia Business School

Grice, Dylan - Calderwood Capital

Gross, Bill - Janus Capital

Gundlach, Jeffrey E. - Doubleline, Chief Executive Officer & Chief Investment Officer

Gutfreund, John H. - Gutfreund & Company

H
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Hague, Ian - Firebird Management

Hale, Jr., Martin - Hale Capital Partners

Hall, Andrew - Phibro, Inc.

Hamburger, John - Restaurant Finance Monitor

Hanke, Steve H. - professor The Johns Hopkins University

Harkins, Michael - Levy, Harkins & Co.

Hartnett, Michael - BofA Merrill Lynch Global Research

Haskell, John - Explorador Capital Management

Hathaway, John - Tocqueville Asset Management

Hendry, Hugh - Eclectica Asset Management, CIO and Founder

Hess, Lisa W. - SkyTop Capital Management

Hill, Karl - Country Bank Co.

Hill, Charles L. - Thomson Financial

Hoisington, Van R. - Hoisington Investment Management

Horan, Hubert - Hubert Horan Aviation Consulting

Hughes, John - Quantum Capital Management, LLC

Hunt, Lacy - Hoisington Investment Management Co.

Hyman, Ed - Evercore ISI

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Isaac, Paul J. - Arbiter Partners Capital Management

J
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Jacobs, Sy - JAM Partners, LP

Jakurski, André - JGP Global Gestao de Recursos

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Kasriel, Paul L. - The Northern Trust Company

Katz, Michael - Glenrock Global Partners

Kelly, Mitchell - Anaconda Capital Management

Kelton, Stephanie - Stony Brook University

King, Mervyn - former governor of the Bank of England

Klarman, Seth - The Baupost Group, L.L.C., President and CEO

Klody, CFA, Mathew T. - MCN Capital Management, LLC, Managing Partner

Knapp, Robert - Ironsides Partners

Kovner, Bruce - Caxton Alternative Management

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La Nasa, III, Joseph - Serengeti Asset Management, Managing Partner

Lampert, Eddie - ESL Investments, Inc.

Landis, Kevin - Firsthand Capital Management

Langone, Ken - Invemed Associates

Lassonde, Pierre - Franco-Nevada Corp., Chairman

Lawler, M.D., Ph.D., Joseph - JFL Capital Management, LLC

Lawrence, Bryan R. - Oakcliff Capital, L.P.

Leder, Michelle - Footnoted.com

Lehrman, Lewis E. - L.E. Lehrman & Co.

Leibowitz, Martin - Morgan Stanley, Managing Director

Levenson, Carol - Gimme Credit Publications

Levenson, Thomas - Massachusetts Institute of Technology, author of

Lewis, Hunter - Author

Lewitt, Michael - Harch Capital Management

Lipper, Steve - Royce & Associates

Lipton, Martin - Wachtell, Lipton, Rosen & Katz

Litinsky, James H. - JHL Capital Group LLC

Lonski, John - Moody's Investors Service

Lukacs, John - Author

Lusman, Joel - Lusman Capital Management

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Marks, CFA, Howard S. - Oaktree Capital Management, LP, Co-Chairman

Martin, R. Brad - RBM Venture Company

Maxey, Henry - Ruffer LLP

Mayer, Martin - Author,

McEwen, Robert - Goldcorp, Inc.

McKenna, Francine - MarketWatch

McQuarrie, Edward - Leavey School of Business at Santa Clara University

Mikhailovich, Simon A. - Tocqueville Bullion Reserve

Mikuni, Akio - Mikuni & Co., Ltd.

Miller, William - Legg Mason Fund Adviser

Miller, Steven - Standard and Poor's

Millstein, Jim - Millstein & Co.

Mindich, Eric - Eton Park Capital Management

Mindich, Jeremy - Scopia Capital, LLC

Minerd, Scott - Guggenheim Partners

Moffett, Craig - MoffettNathanson, LLC, Partner and Senior Research Analyst

Montier, James - GMO

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Napier, Russell - Orlock Advisors

Ney, Keith - Carmignac

Novogratz, Michael - Galaxy Investment Partners

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O'Connor, Jerry - O'Connor Capital Partners

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Pan, Vivian - Hamlin Capital Management

Partnoy, Frank - University of San Diego

Paulson, John - Paulson & Co., Inc.

Peabody, Charles - Ventana Capital

Pellegrini, Paolo - PSQR Management, LLC

Pickens, T. Boone - BP Capital

Porter, Alex - Porter Felleman, Inc.

Price, Michael - MFP Investors

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Rasmussen, Dan - Verdad Advisers

Rasteh, James - Coast Capital, LLC

Redleaf, Andy - Whitebox Advisors, LLC

Reik, Trey - Bristol Investment Partners, CIO

Richardson, Kennedy - Fidelity Investments

Rickards, James - JAC Capital Advisors, Partner

Robertson, Julian - Tiger Management Corp.

Rocha, Bruno - Dynamo Capital, LP

Rogers, James - Author

Rohatyn, Felix - Lazard, Ltd.

Rollert, Jeffery - ALM Advisors

Rosenberg, Joe - Loews Corporation, Chief Investment Strategist

Rosenberg, David - Gluskin Sheff + Associates

Rosenwald, James - Rosenwald Capital Management

Rowe, Frederick - Greenbrier Partners, Ltd.

Royce, Charles - Royce & Associates

S
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Sandor, Ph.D., Richard - Environmental Financial Products

Sarma, Karthik - SRS Investment Management

Saul, Bob - GMO Renewable Resources, Director Domestic Forestry Investments

Scaramucci, Anthony - SkyBridge Capital

Schiff, David - Schiff's Insurance Observer

Schwarzman, Stephen A. - Blackstone Group, Chairman and CEO

Senor, Dan - Elliott Management

Shelton, Judy

Sherman, David - Cohanzick Management

Shilling, Ph.D., A. Gary - A. Gary Shilling & Co.

Simon, Jr., William E. - William E. Simon & Sons

Singer, Paul E. - Elliott Management Corp.

Smith, Randy - Alden Global Capital

Souza, Cristiano - Dynamo Capital, LP

Sprayregen, James - Kirkland & Ellis, LLP

Stahl, Murray - Horizon Asset Management, Inc.

Stephens, Bret - The Wall Street Journal

Stevenson-Yang, Anne - J Capital Research

Stinchcombe, Kai - True Link Financial

Stockman, David A. - Former Director of the Office of Management and Budget, 1981-85

Succo, John - Alpha Investments of New York

Suria, Ravi - Duquesne Capital Mangement

Sussman, Donald - Paloma Partners

Swensen, David - CIO, Yale University

Sylla, Richard - Professor Emeritus of Economics at the Stern School of Business

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Taleb, Nassim Nicholas - Empirica, LLC

Tarrant, Jeffrey - Protege Partners

Thiel, Peter - Clarium Capital

Thompson, Cullen - Bienville Capital Management

Thomson, Will - Massif Capital, LLC

Thorn, Jon - India Capital Management

Tisch, James - Loews Corporation

Trennert, Jason DeSena - Strategas Research Partners, LLC

V
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Volcker, Paul A. - Chariman Federal Reserve 1979 - 1987

Volent, Paula - Bowdoin College

W
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Wachenheim, III, Ed - Greenhaven Associates

Wadhwaney, Amit - Third Avenue Management

Walsh, Timothy M. - Division of Investments, State of New Jersey, Director

Walter, Carl E. - Author

Warsh, Kevin - Hoover Institution

Weinstein, Boaz - Saba Capital Management

Weiss, Adam - Scout Capital

Werner, Mark - Pierpont Securities, LLC

Whitman, Martin J. - Third Avenue Management

Whitney, Meredith - Meredith Whitney Advisory Group, LLC

Wien, Byron - The Blackstone Group

Wilkins, Mike - Kingsford Capital Mgmt, LLC

Winters, David - Franklin Mutual Advisers, LLC

Wolf, Martin - Financial Times

Wright, Logan - Rhodium Group

X
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Xiaosheng, Chen - SYWG Research & Consulting, Co.

Y
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Yoo, Simon - Green Visor Capital Management Company, LLC

Yusko, Mark W. - Morgan Creek Capital Management, CEO and Chief Investment Officer

Z
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Zell, Sam - Equity Group Investments

Zelman, Ivy - Zelman & Associates

Zervos, David - Jefferies & Company

Upcoming Conferences

October 19, 2021 - New York

Past Conferences & Presentations

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Past Speakers

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Past Conference Books

Lost in Math: How Beauty Leads Physics Astray
By Savine Hossenfelder

Floored!: How a Misguided Fed Experiment Deepened and Prolonged the Great Recession
By George Selgin

Trump, the Blue-Collar President
By Anthony Scaramucci

Finance and Philosophy: Why We’re Always Surprised
By Alex J. Pollock

John Law: A Scottish Adventurer of the Eighteenth Century
By James Buchan

More Past Conference Books >

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Stack Trace

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	at coldfusion.server.j2ee.sql.JRunStatement.execute(JRunStatement.java:359)
	at coldfusion.sql.Executive.executeQuery(Executive.java:1537)
	at coldfusion.sql.Executive.executeQuery(Executive.java:1287)
	at coldfusion.sql.Executive.executeQuery(Executive.java:1217)
	at coldfusion.sql.SqlImpl.execute(SqlImpl.java:406)
	at coldfusion.tagext.sql.QueryTag.executeQuery(QueryTag.java:1181)
	at coldfusion.tagext.sql.QueryTag.startQueryExecution(QueryTag.java:815)
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	at coldfusion.runtime.CfJspPage.invoke(CfJspPage.java:254)
	at coldfusion.filter.CFVariablesScopeFilter.invoke(CFVariablesScopeFilter.java:56)
	at coldfusion.tagext.lang.ModuleTag.doStartTag(ModuleTag.java:332)
	at coldfusion.runtime.CfJspPage._emptyTcfTag(CfJspPage.java:3707)
	at cfcartoon2ecfm991852267.runPage(E:\inetpub\wwwroot\grants2013\contentBlocks\cartoon.cfm:10)
	at coldfusion.runtime.CfJspPage.invoke(CfJspPage.java:254)
	at coldfusion.tagext.lang.IncludeTag.handlePageInvoke(IncludeTag.java:737)
	at coldfusion.tagext.lang.IncludeTag.doStartTag(IncludeTag.java:573)
	at coldfusion.runtime.CfJspPage._emptyTcfTag(CfJspPage.java:3707)
	at cfsidebar2ecfm1968803614.runPage(E:\inetpub\wwwroot\grants2013\includes\sidebar.cfm:158)
	at coldfusion.runtime.CfJspPage.invoke(CfJspPage.java:254)
	at coldfusion.tagext.lang.IncludeTag.handlePageInvoke(IncludeTag.java:737)
	at coldfusion.tagext.lang.IncludeTag.doStartTag(IncludeTag.java:573)
	at coldfusion.runtime.CfJspPage._emptyTcfTag(CfJspPage.java:3707)
	at cfbio2ecfm114172326.runPage(E:\inetpub\wwwroot\grants2013\conferences\bio.cfm:171)
	at coldfusion.runtime.CfJspPage.invoke(CfJspPage.java:254)
	at coldfusion.tagext.lang.IncludeTag.handlePageInvoke(IncludeTag.java:737)
	at coldfusion.tagext.lang.IncludeTag.doStartTag(IncludeTag.java:573)
	at coldfusion.runtime.CfJspPage._emptyTcfTag(CfJspPage.java:3707)
	at cfinc_campaignTemplate2ecfm954938142.runPage(E:\inetpub\wwwroot\grants2013\includes\inc_campaignTemplate.cfm:7)
	at coldfusion.runtime.CfJspPage.invoke(CfJspPage.java:254)
	at coldfusion.tagext.lang.IncludeTag.handlePageInvoke(IncludeTag.java:737)
	at coldfusion.tagext.lang.IncludeTag.doStartTag(IncludeTag.java:573)
	at coldfusion.runtime.CfJspPage._emptyTcfTag(CfJspPage.java:3707)
	at cf4042ecfm923406845._factor5(e:\inetpub\wwwroot\grants2013\404.cfm:288)
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	at coldfusion.runtime.CfJspPage.invoke(CfJspPage.java:254)
	at coldfusion.tagext.lang.IncludeTag.handlePageInvoke(IncludeTag.java:737)
	at coldfusion.tagext.lang.IncludeTag.doStartTag(IncludeTag.java:573)
	at coldfusion.filter.CfincludeFilter.invoke(CfincludeFilter.java:65)
	at coldfusion.filter.IpFilter.invoke(IpFilter.java:45)
	at coldfusion.filter.ApplicationFilter.invoke(ApplicationFilter.java:505)
	at coldfusion.filter.RequestMonitorFilter.invoke(RequestMonitorFilter.java:43)
	at coldfusion.filter.MonitoringFilter.invoke(MonitoringFilter.java:40)
	at coldfusion.filter.PathFilter.invoke(PathFilter.java:153)
	at coldfusion.filter.ExceptionFilter.invoke(ExceptionFilter.java:94)
	at coldfusion.filter.BrowserDebugFilter.invoke(BrowserDebugFilter.java:78)
	at coldfusion.filter.ClientScopePersistenceFilter.invoke(ClientScopePersistenceFilter.java:28)
	at coldfusion.filter.BrowserFilter.invoke(BrowserFilter.java:38)
	at coldfusion.filter.NoCacheFilter.invoke(NoCacheFilter.java:60)
	at coldfusion.filter.GlobalsFilter.invoke(GlobalsFilter.java:38)
	at coldfusion.filter.DatasourceFilter.invoke(DatasourceFilter.java:22)
	at coldfusion.filter.CachingFilter.invoke(CachingFilter.java:62)
	at coldfusion.CfmServlet.service(CfmServlet.java:223)
	at coldfusion.bootstrap.BootstrapServlet.service(BootstrapServlet.java:89)
	at org.apache.catalina.core.ApplicationFilterChain.internalDoFilter(ApplicationFilterChain.java:231)
	at org.apache.catalina.core.ApplicationFilterChain.doFilter(ApplicationFilterChain.java:166)
	at coldfusion.monitor.event.MonitoringServletFilter.doFilter(MonitoringServletFilter.java:42)
	at coldfusion.bootstrap.BootstrapFilter.doFilter(BootstrapFilter.java:46)
	at org.apache.catalina.core.ApplicationFilterChain.internalDoFilter(ApplicationFilterChain.java:193)
	at org.apache.catalina.core.ApplicationFilterChain.doFilter(ApplicationFilterChain.java:166)
	at org.apache.tomcat.websocket.server.WsFilter.doFilter(WsFilter.java:52)
	at org.apache.catalina.core.ApplicationFilterChain.internalDoFilter(ApplicationFilterChain.java:193)
	at org.apache.catalina.core.ApplicationFilterChain.doFilter(ApplicationFilterChain.java:166)
	at com.seefusion.Filter.doFilter(Filter.java:109)
	at org.apache.catalina.core.ApplicationFilterChain.internalDoFilter(ApplicationFilterChain.java:193)
	at org.apache.catalina.core.ApplicationFilterChain.doFilter(ApplicationFilterChain.java:166)
	at org.apache.catalina.core.StandardWrapperValve.invoke(StandardWrapperValve.java:199)
	at org.apache.catalina.core.StandardContextValve.invoke(StandardContextValve.java:96)
	at org.apache.catalina.authenticator.AuthenticatorBase.invoke(AuthenticatorBase.java:493)
	at org.apache.catalina.core.StandardHostValve.invoke(StandardHostValve.java:140)
	at org.apache.catalina.valves.ErrorReportValve.invoke(ErrorReportValve.java:81)
	at org.apache.catalina.valves.RemoteIpValve.invoke(RemoteIpValve.java:685)
	at org.apache.catalina.core.StandardEngineValve.invoke(StandardEngineValve.java:87)
	at com.seefusion.SeeFusionValve.invoke(SeeFusionValve.java:52)
	at org.apache.catalina.connector.CoyoteAdapter.service(CoyoteAdapter.java:355)
	at org.apache.coyote.ajp.AjpProcessor.service(AjpProcessor.java:510)
	at org.apache.coyote.AbstractProcessorLight.process(AbstractProcessorLight.java:66)
	at org.apache.coyote.AbstractProtocol$ConnectionHandler.process(AbstractProtocol.java:800)
	at org.apache.tomcat.util.net.NioEndpoint$SocketProcessor.doRun(NioEndpoint.java:1471)
	at org.apache.tomcat.util.net.SocketProcessorBase.run(SocketProcessorBase.java:49)
	at java.util.concurrent.ThreadPoolExecutor.runWorker(ThreadPoolExecutor.java:1149)
	at java.util.concurrent.ThreadPoolExecutor$Worker.run(ThreadPoolExecutor.java:624)
	at org.apache.tomcat.util.threads.TaskThread$WrappingRunnable.run(TaskThread.java:61)
	at java.lang.Thread.run(Thread.java:748)

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Upcoming Conferences

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Hubert Horan Aviation Consulting

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