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RESEARCHERS at Yale appear to have solved a big problem for mutual fund rating systems. In doing so, the research team may have also found a better way to pick winning stock funds.
--- The New York Times


The Kalman filter: could it be the Holy Grail?
--- Financial Advisor Magazine
Who We Are
Matthew Spiegel is currently a Professor of Finance at the Yale School of Management. In 1987 he received his Ph.D. in economics from Princeton University. He then taught at Columbia University's Graduate School of Business and subsequently joined the faculty at U.C. Berkeley's Haas School of Business. Professor Spiegel has authored a number of influential papers within finance. His most notable contributions include work in the areas real estate, the pricing of illiquid assets, and the forecasting mutual fund performance. The latter work has been cited in newspapers, magazines, and television news shows.

As a result Professor Spiegel's scholarly he has been asked to sit on the program committees for a number of major conferences including the Winter Finance Conference, the Western Finance Meetings and the annual meeting of the American Finance Association. Among his other editorial assignments, he has been a director of the Western Finance Association, associate editor of the Review of Financial Studies and currently co-edits the Journal of Financial Markets. While at the Haas School of Business we was a member of the California State Commissioner's Advisory Committee on Securities Regulation and Capital Formation for the Department of Corporations. At the time the commission's work focused on the regulations governing new stock offerings by California firms.

Hong Zhang joined INSEAD as an Assistant Professor of Finance in 2004. His research focuses on asset pricing, investment, behavioral finance, and mutual fund performance. Professor Zhang received his PhD in Finance from the Yale School of Management in 2004. Prior to studying finance, he studied physics at New York University and Fudan University, and prior to that won a national gold medal at 8th Chinese Physics Olympics.

Mike Tankersley is currently a fee-only registered investment advisor for Investment Management Advisors, Inc. performing investment management and financial planning for clients and institutions. He also administers the trading and operations for Alpha Investment Opportunities.

Mr. Tankersley earned his BSE in Industrial Engineering from the University of Alabama in Huntsville, and his MBA with concentration in finance from The University of Colorado. Mr. Tankersley has over 18 years experience in investment advisory and financial planning. He is a Certified Financial Planner and member of NAPFA, National Association of Personal Financial Planners.


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