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Wizards of Finance to Lecture at Pomona College

Two internationally renowned “Wizards of Finance” will explain the world of finance and investing in two lectures at Pomona College in late April. Both talks are open to the public and free of charge.

“Quantitative Investing and Asset Allocation”

On Thursday, April 24, economist Dr. Robert Litterman will explain “Quantitative Investing and Asset Allocation,” the real world of equity investing. Currently part of Goldman Sachs senior management team and Director of Quantitative Resources, he manages the Quantitative Equities group, the Quantitative Strategies Group, the Global investment Strategies team and the PACE group, which develops and markets portfolio management and risk analysis tools.

Litterman is the co-developer, along with the late Fischer Black, of the famous Black-Litterman Global Asset Allocation Model, a key tool in Goldman Sachs Asset Management’s asset allocation process and used in most asset management operations around the world. He is also the lead author of Modern Investment Management: An Equilibrium Approach (2003).

Prior to joining Goldman Sachs in 1986 and becoming a Partner in 1994, Litterman was an assistant vice president in the Research Department of the Federal Reserve Bank in Minneapolis.

Litterman’s talk will be held 4:15-6 p.m., including a Q&A session, in the Pomona College Hahn Building (420 N. Harvard Ave., Claremont).

“The Role of Risk Transfer and Liquidity”
On Wednesday, April 30, Nobel laureate Dr. Myron Scholes, chairman of Platinum Grove Asset Management and the Frank E. Buck Professor of Finance Emeritus at the Stanford University Graduate School of Business, will explain “The Role of Risk Transfer and Liquidity.”

Scholes is famous for helping to resolve one of the greatest financial puzzles ever: how to price options. He co-developed the Black-Scholes options pricing model, with Robert Merton and Fischer Black, which is considered by some the greatest discovery in finance. In 1997, he won the Nobel Prize in economics for “a new method to determine the value of derivatives.” The model is now the standard in global financial markets.

Scholes is currently the chairman of the hedge fund Platinum Grove Asset Management L.P., which manages about $4.5 billion. He was also a limited partner in another famous hedge fund known as Long-Term Capital Management (LTCM).

Scholes’ talk will be held 4:15-6 p.m., including a Q&A session, in the Pomona College Rose Hills Theatre, located in the Smith Campus Center (170 East 6th Street, Claremont).

The lectures are being offered in association with the Pomona College class Quantitative Investment Management (Econ 158) taught by Prof. Ludwig Chincarini. For more information about either event, call (909) 621-8881 or e-mail Ludwig.Chincarini@pomona.edu.

Pomona College is one of the nation’s premier liberal arts institutions, offering a comprehensive program in the arts, humanities, social sciences and natural sciences. Its hallmarks include small classes, close relationships between students and faculty, and a range of opportunities for student research.