Myron S. Scholes

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Myron S. Scholes, 2009

Myron Samuel Scholes (born July 1, 1941 in Timmins , Ontario ) is a Canadian economist .

Scholes first studied economics at McMaster University in Hamilton , where he received a bachelor's degree in 1962 . At the University of Chicago concluded it in 1964 with the Master of Business Administration and was later with a five years dissertation under Merton Miller doctorate . He is currently a professor at Stanford , but has also worked at Princeton University and the MIT Sloan School of Management .

Together with Fischer Black and Robert C. Merton , he developed the Black-Scholes model for evaluating financial options . Scholes was awarded the Nobel Prize in Economics for this model in 1997 ; Black had died in 1995 and was therefore unable to receive the award.

Scholes was on the board of directors of the hedge fund Long-Term Capital Management (LTCM), which collapsed in September 1998 due to massive speculation after losses of 4.6 billion US dollars and caused a crisis in the financial markets.

In 2005, Scholes was convicted of $ 40 million in tax evasion related to unjustified write-downs at LTCM.

Today Scholes is on the board of directors of Platinum Grove Asset Management, a hedge fund he founded with his former LTCM partner Chi-fu Huang . The company had $ 4.8 billion under management through August 2008 and had an average annual return through 2007 of 9.4%. In the first half of October 2008 alone, the fund lost 29 percent of its value.

In 2010 Scholes was elected to the American Academy of Arts and Sciences . Since July 2014 he has been Chief Investment Officer of the Janus Capital Group .

Scholes is also represented on numerous boards, such as that of the Chicago Mercantile Exchange and that of the Dimensional Fund Advisors .

Web links

Commons : Myron Scholes  - collection of pictures, videos and audio files

References

  1. ↑ ftd.de: Nobel Prize Winner with Negative Returns ( Memento from July 30, 2012 in the web archive archive.today ) (November 12, 2008)
  2. ^ Nobel laureate Myron Scholes goes to the investment company Janus Capital , in: Handelsblatt , No. 133 of July 15, 2014, p. 46.
personal data
SURNAME Scholes, Myron S.
ALTERNATIVE NAMES Scholes, Myron Samuel (full name)
BRIEF DESCRIPTION Canadian economist, fund manager
DATE OF BIRTH July 1, 1941
PLACE OF BIRTH Timmins , Ontario , Canada