Myron Scholes, PhD
Myron Scholes is Chief Investment Strategist at Janus Henderson Investors. In this role, he leads the firm’s evolving asset allocation product development efforts and partners with the investment team, contributing macro insights and quantitative analysis specific to hedging, risk management, and disciplined portfolio construction. Among his many accomplishments, Myron is the Frank E. Buck Professor of Finance, Emeritus, at the Stanford Graduate School of Business, where he teaches courses including “Managing Under Uncertainty” and “The Evolution of Finance.” He is a member of the Econometric Society and in 1990 served as president of the American Finance Association. Myron is widely known for his seminal work in options pricing, capital market equilibrium, tax policies, and the financial services industry. He is a Nobel Laureate in Economic Sciences and co-originator of the Black-Scholes options pricing model, for which he was awarded the Nobel Prize in 1997. He is a director of Dimensional Fund Advisors mutual funds and several other private companies and has served as an advisor to the Guangdong Provincial Government.
Myron holds a PhD from the University of Chicago. He has honourary doctorate degrees from the University of Paris, France; McMaster University, Canada; Louvain University, Belgium; and Wilfred Laurier University, Canada. He has honorary professorships from Nanjing University, Nanjing Audit University, and Xiamen University in China. He was awarded the Innovator of the Year Award from the Chicago Mercantile Exchange and the Lifetime Achievement Award from the Derivatives Association. Additionally, he is a member of the American Academy of Arts and Sciences. Myron has consulted widely with many financial institutions, corporations, and exchanges, and has lectured for many academic groups and other organisations around the world. He has 53 years of financial industry experience.
Myron Scholes on Time: Trust and constraints
Trust is a key factor in investment management, and the cost of monitoring and constraining the investment managers is high.
Myron Scholes on Time: Special episode – decarbonization
In this special episode, Myron unveils a new approach to environmentally friendly portfolio construction and offers general insights about the role of innovation in finance.
Myron Scholes on Time: Efficiency in stock and option markets
In this episode, Myron, in conversation with Phil Maymin, compares and contrasts the market efficiency of stocks and options.
Myron Scholes on Time: Conundrums of risk management
In this episode, Myron tackles some of the toughest conundrums in risk management: when to de-risk, when to re-risk, and how to think about risk in a real, multi-period world.
Myron Scholes on Time: Understanding and building trust
A discussion on the importance of building trust in the investment management industry, and how data mining, clustering, and reverse engineering of models could create pitfalls.
Myron Scholes on Time: Time diversification
A discussion on time diversification and its importance in effecting investment outcomes.