Martin J. Gruber
{{Short description|American professor of financial economics, focusing on investments.}}
{{Use dmy dates|date=December 2023}}
{{Infobox economist
| name = Martin J. Gruber
| birth_date = {{birth year and age |1937}}
| nationality = American
| institution = New York University Stern School of Business
| field = Finance
| education = Massachusetts Institute of Technology (BS)
Columbia University (MBA, PhD)
| website = {{URL |https://pages.stern.nyu.edu/mgruber/}}
}}
Martin Jay Gruber is professor emeritus of finance and scholar in residence at the Stern School of Business, New York University, where he was previously Nomura professor of finance (1987-2010) and chair of the finance department (1989-1997).{{cite web |url=https://www.stern.nyu.edu/faculty/bio/martin-gruber |website=NYU Stern School of Business|access-date=December 16, 2023|title=NYU Stern bio for Martin Gruber}}
He was elected president of the American Finance Association{{Cite web|url=https://afajof.org/past-presidents/|website=American Finance Association|title=Past Presidents}} in 1995. He is director emeritus of the National Bureau of Economic Research,{{Cite web|url=https://www.nber.org/about-nber/leadership-governance|title=Leadership & Governance|website=National Bureau of Economic Research}} where he was on the investment committee.
His research studies mutual funds, pension funds, and expectations in the process of security price formation. He has been honored for his research by several academic and industry organizations{{Cite web|url=https://afajof.org/fellows/|title=Fellows|website=American Finance Association}}{{Cite web|url=https://www.fma.org/fellow-program|title=Fellows Program|website=Financial Management Association}}{{Cite web|url=https://www.q-group.org/Fellows-of-the-Q-Group|title=Q Group - Fellows of the Q Group|website=Institute for Quantitative Research in Finance (Q-Group)}}{{cite journal |title=James R Vertin Award research winners |url=https://rpc.cfainstitute.org/en/research-foundation/vertin-award |website=CFA Institute}}
With Edwin Elton, he wrote Modern Portfolio Theory and Investment Analysis (Wiley), now in its 9th edition,{{Cite web|url=https://www.wiley.com/en-us/Modern+Portfolio+Theory+and+Investment+Analysis%2C+9th+Edition-p-9781118469941|title=Modern Portfolio Theory and Investment Analysis, 9th Edition | Wiley|website=Wiley.com}} a standard textbook in the field of modern portfolio theory.
Early life and education
He graduated from MIT with an SB in chemical engineering, and received an MBA in production management and a PhD in finance and economics from Columbia University.
Career
He joined the Stern School of Business as assistant professor of finance in 1965, and spent his academic career there except for a two year visiting position at the International Institute of Management, Berlin.
He was chairman of the board of directors of the Japan Equity Fund,{{cite press release |title=The Japan Equity Fund, Inc. Announces Approval of Aberdeen as Investment Manager and Election of New Chairman of the Board of Directors |url=https://www.prnewswire.com/news-releases/the-japan-equity-fund-inc-announces-approval-of-aberdeen-as-investment-manager-and-election-of-new-chairman-of-the-board-of-directors-227282871.html |website=PR Newswire |access-date=17 December 2023}} chairman of the board of trustees of CREF and later TIAA-CREF,{{cite web |title=Prospectus of TIAA-CREF Institutional Mutual Funds |url=https://www.sec.gov/Archives/edgar/data/1084380/000093041305000755/c35258_497.htm |website=Securities and Exchange Commission EDGAR |date=4 February 2005|access-date=18 December 2023}} and a director at DWS Scudder,{{cite web |title=DWS Tax Free Trust Form N-CSR |url=https://www.sec.gov/Archives/edgar/data/711600/000008805307000886/ar053107tft_itaf.htm |website=Securities and Exchange Commission EDGAR |date=31 May 2007|access-date=December 18, 2023}} the Singapore Equity Fund,{{cite web |title=Aberdeen Singapore Fund, Inc. Announces Resignation Of Martin Gruber As Class II Director |url=https://www.ariva.de/news/aberdeen-singapore-fund-inc-announces-resignation-of-6087086 |access-date=17 December 2023}} TIAA, and the S.G. Cowen Mutual Funds.{{cite web|title=S.G Cowen Mutual Funds Form 497|url=https://www.sec.gov/Archives/edgar/data/1049831/0001047469-99-002210.txt|website=Securities and Exchange Commission EDGAR|date=26 January 1999|access-date=26 December 2023}}
Among other editorships, he was editor of the Journal of Finance from 1983-1988.{{cite web |title=Current and past editors |url=https://afajof.org/editors/ |website=Journal of Finance |access-date=19 December 2023}}
Publications
He has written seven books and over 100 articles in scholarly journals, several with his longtime coauthor Edwin Elton.
His pre-1996 articles are collected in a book published by MIT Press, "Investments" in two volumes.{{cite web |title=Author page for Martin J. Gruber |url=https://mitpress.mit.edu/author/martin-j-gruber-3808/ |website=MIT Press |access-date=19 December 2023}} His post-1996 articles are collected in a book published by World Scientific, "Investments and portfolio performance".{{cite book |title="Investments and portfolio performance" |url=https://www.worldscientific.com/worldscibooks/10.1142/8034#t=aboutBook | date=2010 | doi=10.1142/8034 |access-date=19 December 2023 | last1=Elton | first1=Edwin J. | last2=Gruber | first2=Martin J. | isbn=978-981-4335-39-3 | s2cid=153846007 }}
Honors
- Docteur "honoris causa", University of Liege, Belgium
- Fellow of the American Finance Association
- Fellow of the Financial Management Association
- Fellow of the Institute for Quantitative Research in Finance
- James Vertin Award of the CFA Institute, 2004. The Vertin Award recognizes individuals producing a corpus of research that is valuable to investment professionals
Personal life
He is the father of Jonathan Gruber, professor of health economics at MIT.{{cite web |title=NBER Form 990 |url=https://projects.propublica.org/nonprofits/organizations/131641075/202020419349300047/full |website=ProPublica |date=9 May 2013 |access-date=18 December 2023}}
References
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Category:American financial economists
Category:New York University Stern School of Business faculty
Category:Massachusetts Institute of Technology alumni
Category:Columbia University alumni