Myron Scholes, Canadian-American economist and academic, Nobel Prize laureate
Myron Samuel Scholes ( SHOHLZ; born July 1, 1941) is a Canadian-American financial economist. Scholes is the Frank E. Buck Professor of Finance, Emeritus, at the Stanford Graduate School of Business, Nobel Laureate in Economic Sciences, and co-originator of the Black–Scholes options pricing model. Scholes is currently the chairman of the Board of Economic Advisers of Stamos Capital Partners. Previously he served as the chairman of Platinum Grove Asset Management and on the Dimensional Fund Advisors board of directors, American Century Mutual Fund board of directors and the Cutwater Advisory Board. He was a principal and limited partner at Long-Term Capital Management and a managing director at Salomon Brothers. Other positions Scholes held include the Edward Eagle Brown Professor of Finance at the University of Chicago, senior research fellow at the Hoover Institution, director of the Center for Research in Security Prices, and professor of finance at MIT's Sloan School of Management. Scholes earned his PhD at the University of Chicago.
In 1997, Scholes – together with Robert C. Merton – was awarded the Nobel Memorial Prize in Economic Sciences for a method to determine the value of derivatives. The model provides a conceptual framework for valuing options, such as calls or puts, and is referred to as the Black–Scholes model.
1941Jul, 1
Myron Scholes
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Events on 1941
- 17Mar
Franklin D. Roosevelt
In Washington, D.C., the National Gallery of Art is officially opened by President Franklin D. Roosevelt. - 26Jul
French Indochina
World War II: In response to the Japanese occupation of French Indochina, US President Franklin D. Roosevelt orders the seizure of all Japanese assets in the United States. - 17Sep
Great Patriotic War
World War II: A decree of the Soviet State Committee of Defense, restoring Vsevobuch in the face of the Great Patriotic War, is issued. - 12Dec
Hungary
World War II: The United Kingdom declares war on Bulgaria. Hungary and Romania declare war on the United States. India declares war on Japan. - 14Dec
Thailand
World War II: Japan signs a treaty of alliance with Thailand.