George Constantinides is the Leo Melamed Professor of Finance at the University of Chicago. Professor Constaninides studies the causes of the historically observed premium of equity returns over bond returns, the value premium, and the size premium; the pricing and hedging of fixed-income securities, options, futures, and other derivatives; the effects of transaction costs and taxes on the pricing and hedging of derivatives; and portfolio management. He has published numerous papers in distinguished academic periodicals. Subjects he has covered include "Mispricing of S&P 500 Index Options," written with J. C. Jackwerth and S. Perrakis in the Review of Financial Studies; "Rational Asset Prices," in the Journal of Finance; and "Junior Can't Borrow: A New Perspective on the Equity Premium Puzzle," written with J. B. Donaldson and R. Mehra in the Quarterly Journal of Economics.
A former president of the American Finance Association and of the Society for Financial Studies, Professor Constantinides is a research associate at the National Bureau of Economic Research. He serves as a director and trustee of the Dimensional Fund Advisors' family of funds and trusts. He earned a bachelor's degree from Oxford University and MBA and DBA degrees from Indiana University. He joined the Chicago Booth faculty in 1979, having previously taught at Carnegie Mellon University. He also visited Harvard University as a Marvin Bower Fellow.
Martin Fridson is "perhaps the most well-known figure in the high yield world," according to Investment Dealers’ Digest. Over a 25-year span with brokerage firms including Salomon Brothers, Morgan Stanley, and Merrill Lynch, he became known for his innovative work in credit analysis and investment strategy. Fridson received his B.A. cum laude in history from Harvard College and his M.B.A. from Harvard Business School. He has served as president of the Fixed Income Analysts Society, governor of the Association for Investment Management and Research (now CFA Institute), and director of the New York Society of Security Analysts. In 2000, The Green Magazine called Fridson’s Financial Statement Analysis "one of the most useful investment books ever." The Financial Management Association International named Fridson the Financial Executive of the Year in 2002. In 2000, he became the youngest person ever inducted into the Fixed Income Analysts Society Hall of Fame. The Boston Globe said his 2006 book, Unwarranted Intrusions: The Case against Government Intervention in the Marketplace, should be short-listed for best business book of the decade. Joseph Salerno of Pace University said that the book contains more economic insight and sense than all the articles published in 2006 in the American Economic Review. Fridson’s "How Research from the High-Yield Market Can Enhance Equity Analysis" was the most frequently visited conference proceedings paper on the Chartered Financial Analysts Institute website in 2010.
Fridson’s monthly commentary on financial markets is available at www.forbes.com.