| Curriculum Vitae |
CURRICULUM VITAE
Timothy Falcon Crack
timcrack@alum.mit.edu
TEL: +0064(0)3.479.8310; FAX +0064(0)3.479.8193
PERSONAL:
Name: Timothy Crack Citizenship: United Kingdom and New Zealand
timcrack@alum.mit.edu Immigration Status: No Current US Status
EDUCATION/QUALIFICATIONS:
· IMC (Investment Management Certificate), Run by UK Society of Investment Professionals (UKSIP). Financial Services Authority (FSA) Version. November 2001.
· IMRO-Registered (Investment Management Regulatory Organization) and FSA-Approved Person at Barclays Global Investors London 2001-October 2003.
· PhD (Financial Economics), MIT, Sloan School of Management, 1996.
Doctoral Thesis: Three Essays on Market Microstructure.
Committee: Paul Asquith (chair), Stewart Myers, Kevin Rock, Jushan Bai.
· MCom [two-year program of courses plus thesis] (Finance), Otago University, NZ, 1993.
· PGDipCom [two-year program of courses plus thesis] (Accounting), Otago University, NZ, 1990.
· Certificate of Proficiency (Commerce-Accounting), Otago University, NZ, 1988–1989.
· BSc HONS 1st Class [a four-year advanced bachelors degree] (Math/Stats), Otago University, NZ, 1986.
RESEARCH INTERESTS:
Empirical Capital Markets, Derivatives, Econometrics, Trading Strategies, Fixed Income Theory, Market Microstructure.
Compared to US Finance PhD graduates, I am at the 92nd percentile for quality publications. As at August 31, 2009, I have published (or forthcoming) 8 papers in the top 19 Finance journals ranked by Zivney and Bertin (“Publish or Perish,” JF 47(1), 1992). Looking at Table III of their paper allows me to compare myself to my peers: 13 years out from my PhD (i.e., mid-2009), only 51 out of 617 PhDs have done this well; this puts me at the 92 percentile by this measure (up from 90th percentile five years ago).
PUBLICATIONS/FORTHCOMING:
Papers in Refereed Journals:
· “Valuing Real Options using Implied Binomial Trees and Commodity Futures Options,” Journal of Futures Markets, March 2007, vol. 27 no. 3, pp203–226 (co-authored with Tom Arnold and Adam Schwartz).
· Implied Binomial Trees in Excel without VBA, The Journal of Financial Education, Fall 2006, 32(3) 37–54 (co-authored with Tom Arnold and Adam Schwartz).
· The Academic Job Market in Finance: A Rookie’s Guide, Invited Paper for Special Edition of Financial Decisions, Vol. 17, No. 2, September 2005 (co-authored with Alex Butler).
· Noise Reduction: The Case of Short Selling against the Box. Journal of Business, Vol. 78, No. 4, (July) 2005, pp1307-1335 (co-authored with Alex Butler, Tom Arnold, and Yan Zhang).
· Using the WACC to Value Real Options, The Financial Analysts Journal. Nov/Dec 2004. Vol.60, No. 6; pp78–82.
· Impact: What Influences Finance Research? Journal of Business, Vol. 76 No. 2, (April) 2003, pp343-361 (co-authored with Alex Butler, Tom Arnold, and Ayca Altintig).
· Common Misunderstandings Concerning Duration and Convexity, Journal of Applied Finance, Vol. 11, No. 1, (October), 2001, pp82–92 (co-authored with Sanjay K. Nawalkha).
· Interest Rate Sensitivities of Bond Risk Measures, The Financial Analysts Journal, Vol. 56 No. 1, (Jan/Feb) 2000, pp34–43 (co-authored with Sanjay K. Nawalkha).
· A Classic Case of Data Snooping for Classroom Discussion, The Journal of Financial Education, Vol. 25 (Fall) 1999, pp92–97.
· Robust Structure without Predictability: The "Compass Rose" Pattern of the Stock Market, Journal of Finance, Vol. 51 No. 2, (June) 1996, pp751–762 (co-authored with Olivier Ledoit).
Books, Book Chapters, Book Contributions, and other Contributions:
· Forthcoming: Arnold, Tom, Timothy Falcon Crack, and Adam Schwartz, 2010 “Inferring Risk-Averse Probability Distributions from Options Prices Using Implied Binomial Trees.” A chapter in: G.N. Gregoriou and R. Pascalau (Eds.), Financial Econometrics Handbook. Chapman-Hall-CRC/Taylor and Francis: London, UK.
· Both “The Academic Job Market in Finance: A Rookie's Guide” and “The Academic Job Market in Finance: A Rookie's Guide – 2007 Supplement” (coauthored with Alex Butler) are published online at the Financial Management Association’s FMA Online web page: http://www.fma.org/FMAOnline/Fall2007/Fall2007.htm in October 2007 (these are now archived at http://www.fma.org/FMAOnline/Archive/JobMarketGuide.pdf and http://www.fma.org/FMAOnline/Archive/JobMarketGuide2.pdf, respectively).
· “Valuing Real Options Using Implied Binomial Trees and Commodity Futures Options,” appearing in referred conference proceedings of 10th Annual New Zealand Finance Colloquium, Dunedin, New Zealand, January 26–27, 2006. ISSN: 1175-8074.
· Co-author with Sanjay Nawalkha of part of Chapter 2 in the book Interest Rate Risk Modeling: The Fixed Income Valuation Course, April 2005, published by Wiley and written by Sanjay K. Nawalkha, Gloria M. Soto, Natalia K. Beliaeva.
· Basic Black-Scholes: Option Pricing and Trading, 1st Edition January 2004. ISBN: 0970055226 (see www.amazon.com). Revised 2nd Edition April 2009. ISBN: 0970055242 (see www.amazon.com). Cited in Haug’s “Option Pricing Formulas” (2007).
· E-book version of “Heard on the Street: Quantitative Questions from Wall Street Job Interviews” 11th Edition, February 2008 Parent ISBN: 0970055269 (see www.powells.com).
· Heard on the Street: Quantitative Questions from Wall Street Job Interviews (MBA guide book with 50,000 copies sold in 25 countries). 12th Edition, July 2009 ISBN: 0970055277 (see www.amazon.com).
· I have contributed more than 10% of the questions and answers in the book Logic Problems for Money Minds, published in 2003 by Harriman House in the UK. Second edition published 2006. ISBN: 1897597967.
· Robust Structure without Predictability: The "Compass Rose" Pattern of the Stock Market, (co-authored with Olivier Ledoit) reprinted in Forecasting Financial Markets (The International Library of Critical Writings in Economics, #146). Edited by Terence C. Mills, June 2002, Edward Elgar, UK. A collection of 52 seminal papers from 1934 to 2000. 1248 pages, ISBN 1840644974. We appear as Chapter 26 of Volume 2.
· I have contributed Black-Scholes option pricing code for HP17B and HP19B handheld financial calculators that has been reproduced in a British computing journal: Hutchins, Tony, 2003, Black-Scholes takes over the HP12C, Handheld and Portable Computer Club DataFile, Vol. 22 No. 3 (June/July), pp13–21.
WORK IN PROGRESS AND CURRENT INTERESTS:
Working Papers (complete or nearly so):
· Inferring Risk-Averse Probability Distributions From Option Prices using Implied Binomial Trees (with Tom Arnold and Adam Schwartz). To be resubmitted soon.
· Price Momentum Strategies in New Zealand (with Sam Trethewey) (To be resubmitted soon)
· A Practical Guide to GMM with Applications to Option Pricing (with Tom Arnold).
· Using Central Limit Theorems for Dependent Data (with Olivier Ledoit). (Under Review) .
· Pacific Rim FX exposure of US MNCs (with Lifan Zhang, former MBus Student). (To be resubmitted soon)
· Value beats Growth on the Bombay Stock Exchange (with Satneet Sabharwal former MBus Student). (To be resubmitted soon).
· Real Option Valuation using NPV (with Tom Arnold) (to be resubmitted soon)
· A Practical Guide to GMM (with Tom Arnold). A cut-down version of second paper above.
· The Impact of Stock Price Discreteness on the Estimation of ARCH Models. Inactive project.
Cited Unpublished Papers:
· Tinkering with Ticks: Choosing Minimum Price Variation for US Equity Markets (scooped by Ahn and Cao and Choe, 1996).
Books in Progress:
· An inactive project on capital budgeting/financial management for undergraduates.
· A tentative project on quantitative active equity mathematics.
EMPLOYMENT:
· Otago University, P.O. Box 56, Dunedin New Zealand. Professor (Chair in Finance), Department of Finance and Quantitative Analysis, April 1, 2004–Present. Head of Department (HOD) July 1, 2005–Nov 17, 2006. Acting HOD Dec 1, 2006–Feb 5, 2007 and many other short periods.
· Taught BSNS101 (two weeks S2 2007 456 Students; two weeks S2 2008 436 Students; two weeks S2 2009 454 Students); FINC2XX Second Year honours Finance Seminar (S2 2004, 7 students; S2 2005 7 students; S2 2006 8 students; S2 2007 3 students and class met only once), FINC305 International Financial Management, (S2 2004, 121 Students), FINC302 Applied Investments, (S1 2005 147 Students; S1 2006 165 Students; S1 2007 121 Students; S1 2008 119 Students; S1 2009 107 Students). FINC460 Real Options (3 Weeks, S1 2007 10 Students).
· Otago University, P.O. Box 56, Dunedin New Zealand. Visiting Scholar. Department of Finance and Quantitative Analysis, November 2002 to March 31, 2004 (writing my second book, performing academic research, and supervising one MBus student).
· Barclays Global Investors Limited, Murray House, 1 Royal Mint Court, London EC3N 4HH, England. January 29, 2001 to October 3, 2003.
· October 2002 to October 3, 2003. Principal, Equity Research, on Sabbatical.
· June 2001 to September 2002 inclusive. Principal, Head of Active Equity Research (UK/Europe). Quantitative Active Equity Strategies for UK and Europe. Head of four-person research team.
· January 2001 to May 2001 inclusive. Principal, Equity Researcher. Quantitative Active Equity Strategies for UK and Europe. Member of six-person research team.
· Barclays Global Investors (BGI) is the largest institutional asset manager in the world. Assets under management were roughly USD750bn in early 2002. My team’s research drove the UK and European long-only and long-short hedge fund products (approx USD20bn under management). The UK and European funds outperformed their index benchmarks by approx 350, and 500 bips per annum respectively during my time there. The UK Long-Short Hedge Fund product outperformed three-month LIBID by approximately 500 bips per annum.
· At BGI I gained experience with: quantitative active equity strategies (finding sources of “alpha,” testing strategies to exploit them, and implementing them in a transactions-cost-effective manner); understanding the trade-off between returns, risk, and transactions costs; optimization; cross-sectional stock selection in a market-neutral and industry-neutral context; performance attribution; managerial skills in a multinational corporation; BARRA risk models UK/Europe; Bloomberg terminals; speaking with clients and consultants; interacting with portfolio managers on a daily basis; recruitment.
· Indiana University, Bloomington, IN, USA, Assistant Professor of Finance, August 26,1996–December 31, 2000. Empirical Finance (Doctoral course, Spring 1998, Spring 1999, Spring 2000, 3 sections); Derivatives Pricing (MBA course, Spring 1999, Spring 2000, 4 sections); Derivative Securities and Corporate Risk Management, (Undergraduate course, Fall 1996–Fall 2000, 12 sections); Nuclear Financial Economics: Advanced Study of Derivatives Pricing, Hedging, Marketing and Risk Management, (Undergraduate course, Fall 1997).
· Indiana’s undergraduate finance program was consistently ranked in the top 10 in the US (and usually in the top five) by US World and News Report. The MBA program was consistently ranked at about #20 in the US. There are approximately 750 MBA-granting schools in the US.
· My teaching was ranked 5th out of 362, 5th out of 381, and 9th out of 326 for 1997, 1998 and 1999, respectively at the Kelley School of Business at Indiana University (undergraduate ratings, based on average of 8 evaluation questions—further details available upon request).
· MIT, Sloan School, Cambridge, MA, USA, Teaching Assistant in Finance, 1992–June 1996. Proseminar in Financial Engineering, Proseminar in Financial Management, Harvard Case Course in Financial Management, Empirical Methods in Finance, Investments, International Financial Management.
· Otago University, Dunedin NZ, Assistant Lecturer in Finance, 1990–August 1991. Investment Analysis and Portfolio Management, Honours Course in Corporate Finance.
· Otago University, Dunedin NZ, Teaching Fellow in Accounting and Finance, 1987–1989. Principles of Corporate Finance, Financial Accounting, Management Accounting and Finance.
· Otago University, Dunedin NZ, Teaching Assistant, 1985–1986. Intermediate Algebra, Calculus, Mathematical Methods, Quantitative Methods, Computational Methods, and Statistics.
AWARDS AND HONOURS:
· Teaching Award as one of the “Top Twenty Teachers at Otago University for 2007” (one of only ten in the School of Business to receive the award). Nomination by students; overseen by Otago University Students Association. October 2007. There were 1,145 full time equivalent teaching staff at Otago University in 2007 (Source: 2008 Annual Report of the University). There were approximately 150 full time teaching staff in the School of Business.
· Presented BGI-sponsored best paper awards at EFA Conference, Barcelona, August 2001.
· Southwestern Finance Association, New Orleans, Feb/March 2001 Distinguished Paper Award (Noise Reduction: The Case of Short Selling Against the Box).
· Doctoral Student Association PhD Teaching Award, Awarded April 2000.
· Nominated for Sauvain Undergraduate Teaching Award, 1999–2000.
· Nominated for University-wide Distinguished Teaching award, Fall 1999.
· Nominated for Sauvain Undergraduate Teaching Award, 1998–1999.
· Indiana University Teaching Excellence Recognition Award (TERA), 1998–1999.
· Indiana University Alpha Kappa Psi Professional Business Fraternity Undergraduate Teaching Excellence Award (Class of 1997). Awarded October 1998.
· Nominated for Sauvain Undergraduate Teaching Award 1997–1998.
· Indiana University Teaching Excellence Recognition Award (TERA), 1997–1998 (with highest teaching ratings in 25-member Indiana University Finance Department).
· Indiana University Teaching Excellence Recognition Award (TERA), Fall 1996.
· Awarded Full MIT Doctoral Fellowship with Stipend, 1992–1995.
· Invited to spend a “day on the floor” at the NYSE, May 24, 1994.
· Trust Bank Otago Travelling Scholarship in Commerce, New Zealand, 1991.
· Nominated for Commerce Division Outstanding Teaching Award, Otago University, 1991.
· Offered Fulbright Travel Grant (I refused because of visa implications), 1991.
· Forsyth Barr Ltd Prize in Business Finance, Otago University, 1989.
· Beverly Senior Scholarship in Mathematics, Otago University, 1985.
· Gopi Jain Memorial Prize in Statistics, Otago University, 1985.
· R.J.T. Bell Prize in Mathematics, Otago University, 1984.
· BNZ Senior Math. Competition (Canterbury Math. Assoc.), 6th placing in New Zealand, 1982.
· Australian Mathematics Competition, Senior Division, Certificate of Distinction, 1982.
· Dux/Valedictorian, King High School (550 students), Dunedin New Zealand, 1982.
RESEARCH GRANTS
· December 2004. NZD 5,000 contestable research grant from Otago Dept. of Finance and Quantitative Analysis (jointly with Alexander and Penckwitt) to setup parallel computer cluster.
ACADEMIC PRESENTATIONS:
· “Valuing Real Options Using Implied Binomial Trees and Commodity Futures Options,” 10th Annual New Zealand Finance Colloquium, Dunedin, New Zealand, January 26–27, 2006.
· Presenter, “Fire and Forget” Research Publications seminar, Otago Univ., August 11, 2005.
· “Implied Binomial Trees” presented to FINC409 (Advanced Derivatives) May 5, and May 12, 2005.
· Presenter, “What I did with my Math Degree” Otago Univ. Department of Math and Stats, course MATH160 special guest presenter: May 17, 2004, July 27, 2005, July 18, 2006.
· Presenter: "A Practical Guide to GMM with Applications to Option Pricing," FMA meetings, October 26, 2000, Seattle, WA.
· Presenter: Six Lectures on the Mathematics of Advanced Financial Derivatives Pricing, Indiana University Mathematics Department Math/Finance Seminar, Oct 13, 1999–Nov 16, 1999.
· Discussant: Wayne Ferson and Cam Harvey's "Conditioning Variables and the Cross Section of Stock Returns," AFA Conference, New York, January 03, 1999.
· Co-Presenter Brown-Bag Lunch Seminar: "An Investigation of Strike Price Bias," (with Tom Arnold), Indiana Univeristy December 11, 1998.
· Presenter: "Why Use Barrier Options?" Indiana University Mathematics Department Math/Finance Seminar, November 11, 1998.
· Co-Presenter Brown-Bag Lunch Seminar: "Does Peakedness Matter?" (with Tom Arnold), Indiana University September 04, 1998.
· Special guest speaker at panel discussion on "Publishing as a Doctoral Student" at Indiana University—October 1997.
· Discussant: Oliver Hansch's "Cross-listing Effects: Evidence from the Time Series Behavior of Dealer Inventories" at Indiana University's fifth biennial symposium (Implications of Market Microstructure for Investors, Firms, and Markets)—August 1997.
· Presenter: "The Impact of Stock Price Discreteness on the Estimation of ARCH Models," MIT, Dartmouth, Indiana University, University of Washington (Seattle), The Ohio State University, University of Illinois (Urbana-Champaign)—all from Jan to Mar 1996.
· Coauthor Tom Arnold presented Generalized Option Pricing Paper (Now called Pricing Real Options in the Real World) at University of Georgia (Feb 2000) and SWFA San Antonio TX March 17, 2000.
CONFERENCE ACTIVITIES:
· Attended 10th Annual New Zealand Finance Colloquium, Dunedin, New Zealand, January 26–27, 2006.
· Attended SIRIF Behavioral Finance Conference, Edinburgh, Scotland, Sept 3-4, 2001.
· Attended EFA Conference, Barcelona, Spain, August 22-25, 2001.
· Attended FMA Conference, Seattle, October 2000.
· Attended AFA Conference, Boston, January 2000.
· Attended AFA Conference, New York, January 1999.
· Constructed multiple sessions and chose chair and discussants for October 1998 FMA meetings.
· Attended FMA Conference, Chicago, October 1998.
· Attended Indiana University's fifth biennial symposium (Implications of Market Microstructure for Investors, Firms, and Markets) Bloomington, August 1997.
· Attended AFA Conference, San Francisco, January 1996
· Attended AFA Conference, Boston, January 1994
· Attended NBER seminars in Cambridge MA, 1992–1996
COMMITTEES AND OTHER SERVICE:
· Co-presented (with Prof. Robin Grieves) an introductory talk on Finance at the Tertiary Open Day at Otago Museum, April 7, 2007, May 6, 2008. Approximately 150 high school students in attendance.
· Served as an external referee on a tenure/promotion case (assistant to associate professor) at University of South Carolina. September 2007.
· Head of Department, Otago Univ. Dept Finance and Quant. Analysis, July 1, 2005-Nov 17, 2006. Acting HOD Dec 1, 2006–Feb 5, 2007. Acting HOD at other times also.
· Director of Student Research, Otago Univ. Dept Finance and Quant. Analysis, July 1, 2005-Present.
· Head of Policy Committee, Otago Univ. Dept Finance and Quant. Analysis, Semester 2 2005
· Ex-Officio Member of Senate, Otago University, July 1, 2005-Present.
· Member of School of Business Divisional Postgraduate Advisors Committee, Semester 1 2005, Semester 2, 2005.
· Sponsoring (with my research funds) part of the cost of the Finance and Quantitative Analysis “Research Cluster” (a new parallel computing cluster being established at Otago). My current role is limited to financial support and common sense advice. I will be a user once it is operational.
· Recruitment and Admissions Committee, Otago Univ. Dept Finance and Quant. Analysis, Semester 2 2004, Semester 1 2005, Semester 2 2005.
· Acting HOD, Otago Univ. Dept Finance and Quant. Analysis, on occasion during Semester 2 2004 and Semester 1, 2005.
· Kelley School of Business Undergraduate Policy Committee—Fall 1999, Spring 2000, Fall 2000.
· Kelley School of Business Undergraduate Policy Committee Career Education Subcommittee Spring 2000.
· Indiana University Finance Undergraduate Committee—Fall 1996, Spring 1997, Fall 1998, Spring 1999, Fall 1999, Spring 2000, Fall 2000.
· Indiana University Finance Doctoral Committee—Fall 1997, Spring 1997, Spring 1998, Fall 1998, Spring 1999, Fall 1999, Spring 2000, Fall 2000.
· Met with Recruiters at IU Spring 1999, Fall 1999.
· Interviewed prospective Finance Department hires at AFA conference, New York January 1999.
· Interviewed prospective undergraduate Investment Banking students, December 1998.
· Interviewed prospective Finance Department hires at FMA conference, Chicago October 1998.
· Interviewed prospective Finance PhD students—Spring 1998.
· Volunteered to create and teach "Nuclear Financial Economics: Advanced Study of Derivatives Pricing, Hedging, Marketing and Risk Management" for Individualized Major Students with math/finance degrees—Fall 1997.
· Member of Finance Dept Subcommittee to evaluate feasibility of a Math-Finance program at Indiana University (Fall 1999).
· Active participant in Math Department Math-Finance seminar series, Spring 1998, Fall 1999.
· Participated in the Meeting on Trading Room Technology – Indiana University May 1998.
· Substantial advising of undergraduate students seeking Investment Banking Jobs.
· Organized meeting between undergraduate Investment banking students and investment bankers from HLHZ (Sept 22, 1999; Sept 27, 2000). Met with recruiter from Bear Sterns (Oct 17, 1999; Oct 16, 2000). Met recruiters from Lehman Brothers (November, 1999).
THESIS ADVISING:
· PhD thesis committee member for PhD student Murray Reynolds at Otago University. Thesis topic: corporate finance, bankruptcy prediction, corporate governance. Primary supervisor is Gurmeet Bhabra.
· PhD thesis committee member for PhD student Rasika Withanawasam at Otago University. Thesis topic: Market Microstructure. Primary supervisor is Peter Whigham.
· Internal Thesis Examiner: Mengjia Mo’s Otago MCom Thesis on Arithmetic Brownian Motion and Option Pricing. Mid-2007.
· Internal Thesis examiner: Helen Roberts’ Otago PhD Thesis on Executive Compensation and Corporate Governance. Early 2007.
· Masters thesis advisor for MBus student Chris Croft, Late 2007. Thesis topic: Feasibility of Domestic and Cross-Border Portable Alpha Strategies in NZ.
· Masters thesis advisor for MBus student Kelvin McKeown, Late 2006. Thesis topic: Dividend Policy in the US versus NZ.
· Masters thesis advisor for MBus student Satneet Sabharwal at Otago University. Thesis topic: Value and Growth strategies in India. Late 2004-Jan 31, 2005.
· Masters thesis advisor for MBus student Lifan Zhang at Otago University. Thesis topic: Pacific Rim FX exposure of US MNCs. September 2003-May, 2004.
· Sponsor and thesis advisor for IU Individualized Major Program (IMP) undergraduate student Devesh Shah in his "Financial Mathematics" degree, Spring 1997. Thesis title: Overview of Specialness in the US Government Bond Repurchase Market.
· Sponsor and thesis advisor for IU IMP undergraduate student Reed Schwandt in his "Financial Mathematics" degree, Fall 1997, Spring 1998. Thesis title: Program Trading and Derivative Strategies in the Equity Markets
· Senior Thesis Adviser for IU undergraduate finance major Joshua Leavitt. Thesis topic: Initial Public Offerings: A Brief Study of Performance—Fall 1997/Spring 1998
· Senior Thesis Adviser for IU undergraduate finance major Matthew Tuchband. Thesis topic: The Effects of the Transition to the EURO on International Organizations and their Foreign Currency Risk Management Strategies—Fall 1997/Spring 1998.
· Supervised IU PhD Finance Student Miikka Tauren. Thesis Title: The Pricing of Credit Risk: Theory and Evidence (committee member). 1999.
· Supervised IU PhD Finance Student Craig Wisen. Thesis Title: The Bias Associated with New Mutual Fund Returns, Spring 2002 (co-supervisor).
· Supervised IU PhD Economics Student Jeff Gerlach. Thesis: Derivatives and Emerging Market Debt/Information, Institutions and Asset Returns, October 2001 (committee member).
· Constituent Member, Andrew Waisburd’s IU PhD committee, March 2000. Essays in Financial Market Automation.
REFEREE WORK:
· The Journal of Finance.
· The Journal of Business.
· Journal of Futures Markets.
· Financial Analysts Journal
· Quantitative Finance
· Pacific-Basin Finance Journal.
· International Journal of Theoretical and Applied Finance.
· Studies in Nonlinear Dynamics & Econometrics.
· Indiana University's fifth biennial symposium (Implications of Market Microstructure for Investors, Firms, and Markets)—August 1997.
· FMA conference—Chicago, October 1998.
· Indiana University's sixth biennial symposium (Crisis Events in Financial Intermediation and Securities Markets)—February 2000.
CONSULTING:
· Independent consultant to New York Stock Exchange, Summer (May–July) 1994
OTHER ACTIVITIES:
· Internet-Based Small Business. Book author and publisher. 1995–present. Sold approx 50,000 copies of MBA investment-banking guide and Black-Scholes Option Pricing book.
· Graphic artist: supplied an illustration for "Investments: A Global Perspective," co-authored by Jack Clark Francis and Roger Ibbotson, Prentice-Hall, 2002, ISBN 0138907404 (see page 459 for acknowledgement to my contribution).
· Edited draft copy of half of Chi-fu Huang's book “Theory of Financial Markets”— MIT May 1993.
COMPUTING & TECHNICAL SKILLS:
Rated on a scale of 1 (very rusty), 3 (regular user), 5 (expert);
· UNIX (3), DOS (3), VAX VMS (1), WINDOWS (3).
· Excel (4), Word (4), LATEX/TEX (5), Powerpoint (2), Outlook (3), HTML source code(3).
· SAS (4), MATLAB (4), FORTRAN (2), C (1), MATLAB MEX Files (2).
· Adobe PageMaker (2), Adobe Acrobat (including Adobe Distiller and Adobe Exchange) (4).
· BLOOMBERG (3), FACTSET (3), BARRA Risk Models (3), IBES (3).
· Hewlett Packard HP17B/HP19B Equation Solver Code (4).
· E-book creation using Adobe software (2), BlackBoard (2).
· Training Courses:
o Workshop on HODs managing people, HEDC, August 28, 2006.
o Leadership Development Program with Dr. John Adams six hours September, 2005
o Introduction to “Black Board” (for electronic communication of university courses), NZ, April 19, 2004.
o SAS Macros Course, Marlow, UK. March 1-2, 2001.
o UKSIP, Current Developments in UK Financial Reporting, London, UK. May 22, 2001.
o BARRA Risk Model decomposition. London, UK. August 7, 2002.
· Active and successful small trader in US equity and US equity options markets.
FOREIGN TRAVEL:
· New Zealand, to August 1991, and again from November 2003.
· United States, August 1991-December 2000, plus half-dozen other trips there.
· United Kingdom, December 2000-November 2002, plus two other trips there.
· Plus: three months in France, two months in Scotland, two days in Spain.
REFERENCES:
Available upon request.