NationMaster - Encyclopedia: Myron Scholes

Myron S. Scholes (born July 1, 1941) is one of the authors of the famous Black-Scholes equation. In 1997 he was awarded The Bank of Sweden Prize in Economic Sciences for "a new method to determine the value of derivatives." July 1 is the 182nd day of the year (183rd in leap years) in the Gregorian Calendar, with 183 days remaining. ... For the movie, see 1941 (film) 1941 (MCMXLI) was a common year starting on Wednesday (link will take you to calendar). ... The Black-Scholes model, often simply called Black-Scholes, is a model of the varying price over time of financial instruments, and in particular stocks. ... 1997 (MCMXCVII) is a common year starting on Wednesday of the Gregorian calendar. ... The Bank of Sweden Prize in Economic Sciences (Swe. ... A derivative is a financial contract whose payoffs over a period of time are derived from the performance of assets, interest rates, exchange rates, or indices. ...

He was born in Timmins, Ontario, Canada. Timmins, with a population of 43,686 (2001), is a city in northeastern Ontario, Canada on the Mattagami River. ...

He earned a Bachelor's degree in Economics from McMaster University, Canada in 1962. At the University of Chicago, he earned an MBA in 1964 and a Ph.D. in 1969. He co-founded the ill-fated Long-Term Capital Management in 1994. He is currently a professor at Stanford University and has also been on the faculty at the MIT Sloan School of Management. A bachelors degree is usually an undergraduate academic degree awarded for a course or major that generally lasts three or four years. ... McMaster University is a medium-sized research-intensive university located in Hamilton, Ontario, Canada, with an enrollment of 16,771 full-time and 3,599 part-time students (as of 2004). ... 1962 (MCMLXII) was a common year starting on Monday (link will take you to calendar). ... The University of Chicago is a private co-educational university located in Chicago, Illinois, founded in 1890, doors opened in 1892. ... Master of Business Administration (MBA) is a tertiary degree in business management. ... For the Nintendo 64 emulator, see 1964 (Emulator). ... Doctor of Philosophy, or Ph. ... 1969 (MCMLXIX) was a common year starting on Wednesday For other uses, see Number 1969. ... Long-Term Capital Management (LTCM) was a hedge fund company founded in 1994 by John Meriwether (the former vice-chairman and head of bond trading at Salomon Brothers). ... 1994 (MCMXCIV) was a common year starting on Saturday of the Gregorian calendar, and was designated the International year of the Family. ... For other meanings of Stanford, see Stanford (disambiguation). ... The MIT Sloan School of Management is one of the five schools of the Massachusetts Institute of Technology, located in Cambridge, Massachusetts, USA. The Sloan School is one of the worlds leading business schools, conducting research and teaching in finance, entrepreneurship, marketing, strategic management, economics, organizational behavior, operations management...

In 2005, Scholes was implicated in the case of Long-Term Capital Holdings v. United States, where he attempted to invest funds from his company, Long-Term Capital Holdings, in an illegal tax shelter in order to avoid having to pay taxes on profits from company investments. It was found that Scholes and his partners were not eligible for $106 million in tax deductions they had claimed. Additionally, they were fined more than $40 million by the IRS.

External links

Nobel e-Museum - Autobiography of Myron S. Scholes
A Tax Shelter, Deconstructed
Federal judge rejects tax shelter used by Nobel winners

Categories: 1941 births | Canadian economists | Nobel Prize in Economics winners | Economist stubs

Results from FactBites:

Myron Scholes, double alumnus and former faculty member, shares 1997 Nobel Prize in economics (1054 words)
	Myron Scholes, who shares the 1997 Nobel Memorial Prize in Economic Sciences, is a double alumnus of the University of Chicago, having earned both his M.B.A. (1964) and Ph.D. (1970) degrees from the University’s Graduate School of Business, where he was later a faculty member for 10 years.
	Scholes is the 69th Nobel laureate to have studied or taught at the University of Chicago.
	Scholes is being honored for having developed a pioneering formula for the valuation of stock options, an important mechanism for managing risk in financial markets.

Myron Scholes at AllExperts (338 words)
	Myron S. Scholes (born July 1, 1941 in Timmins, Ontario, Canada) is one of the authors of the famous Black-Scholes equation.
	In 1997 he was awarded the Nobel Memorial Prize in Economics for "a new method to determine the value of derivatives." The model provides the fundamental conceptual framework for valuing options, such as calls or puts, and is referred to as the Black-Scholes model, which has become the standard in financial markets globally.
	In 2005, Scholes was implicated in the case of Long-Term Capital Holdings v.

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