Martin J. Gruber is a Professor Emeritus and Scholar in Residence at the Leonard N. Stern School of Business of New York University formerly a Professor of Finance for 45 years. A past president of the American Finance Association, Professor Gruber was named a distinguished scholar by the Eastern Finance Association, and received the Graham and Dodd Award for research in investments. His research interests include portfolio theory and management, mutual fund structure and performance, and pension funds.