proprietary trading, he is currently a portfolio manager heading the event-
driven investing group at Caxton Associates, a global, multistrategy hedge
fund.
Kent Danielis the Helen and John L. Kellogg Professor of Finance at the
Kellogg School of Management at Northwestern University. Prior to join-
ing Kellogg, Daniel taught at the University of Chicago and at the Univer-
sity of British Columbia. Professor Daniel has published widely. His work
has examined tests of asset pricing models, in particular tests of models at-
tempting to explain cross-sectional predictability of asset returns and the
magnitude and predictability of the equity premium. He has done both the-
oretical and empirical studies on psychology-based asset pricing theories.
His papers have twice won the Smith-Breeden Award for the best paper
published in the Journal of Finance. He is a Research Associate of the Na-
tional Bureau of Economic Research. He is an Associate Editor of the Jour-
nal of Finance. He received his Ph.D. in Finance from UCLA in 1992.
François Degeorgeis a professor of finance at the University of Lugano,
Switzerland. He received his Ph.D. from Harvard University. He taught fi-
nance at HEC Paris from 1993 to 2003. His research focuses on corporate
finance, and has been published in the Journal of Business, the Journal of
Finance, the Journal of Financial Economics, and the Journal of Risk and
Uncertainty. He has received the following awards: Merton Miller Prize
(2000); Inquire Europe First Prize (1998 and 2003); the HEC Foundation
Prize in 1994; and in 1993 he was nominated for the Smith Breeden Prize.
Kenneth A. Frootis André R. Jakurski Professor of Business Administra-
tion at Harvard University’s Graduate School of Business Administration.
He teaches courses in Capital Markets, International Finance, and Risk
Management. Professor Froot received his B.A. from Stanford University
and his Ph.D. from the University of California at Berkeley. He spent the
1988–89 academic year as an Olin Fellow at the National Bureau of Eco-
nomic Research, where he is Research Associate and Chair of the NBER’s
Insurance Group. His research on a wide range of topics in finance, risk
management, and international economics has been published in many
journals and books. He is editor of the Journal of International Financial
Management and Accounting, associate editor of the Journal of Interna-
tional Economics, and of The Financing of Catastrophe Risk, Foreign Di-
rect Investment, and The Transition in Eastern Europe, Vols. 1 and 2. He is
a member of the American Finance Association, the American Economics
Association, and the Behavioral Finance Working Group, and served as a
term member of the Council on Foreign Relations.
J. B. Heatonis a litigation partner with Bartlit Beck Herman Palenchar
& Scott LLP in Chicago. He earned a B.A. in Liberal Arts & Sciences at the
University of Illinois in 1990 and earned J.D., M.B.A., and Ph.D. (finance)
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