Sheridan Titman

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Sheridan Titman
Born (1954-05-23) May 23, 1954 (age 63)
Denver, Colorado
Nationality United States
Institution McCombs School of Business
Field Financial economics, including energy finance, investment banking, and real estate finance
Alma mater Carnegie Mellon University
University of Colorado
Awards Smith Breeden Prize, 1997
Batterymarch Fellowship, 1985
Information at IDEAS / RePEc

Sheridan Dean Titman is a professor of finance at the University of Texas at Austin, where he holds the McAllister Centennial Chair in Financial Services at the McCombs School of Business.[1] He received a B.S. degree from the University of Colorado and an M.S. and Ph.D. from Carnegie Mellon University.

Career[edit]

Titman previously taught at UCLA, where he was the chair for the department of finance. Between 1992 and 1994, he was one of the founding professors of the School of Business and Management at the Hong Kong University of Science and Technology. From 1994 to 1997, he served as the John J. Collins, S.J. Chair in Finance at Boston College. From 1988–89, Titman worked in Washington D.C. as the special assistant to the Treasury Assistant Secretary for Economic Policy.

Titman's academic publications include articles on asset pricing, corporate finance, and real estate. Sheridan won the Smith-Breeden Prize for the best finance research paper published in the Journal of Finance, the GSAM best paper award for the Review of Finance and was a recipient of the Batterymarch Fellowship.[citation needed]

Titman served on the editorial boards of the Journal of Finance and the Review of Financial Studies. He co-authored three finance textbooks, Financial Markets and Corporate Strategy,[2] Valuation: The Art and Science of Corporate Investment Decisions, and Financial Management: Principles and Applications.[citation needed] In 2012 he succeeded Raghuram Rajan as the President of the American Finance Association and served as the President of the Western Finance Association. He has also served as Director of the Asia Pacific Finance Association and the Financial Management Association.[citation needed]

Momentum investing[edit]

Titman's most well known research has been on Momentum investing.[3] Momentum investing is an investment strategy that aims to capitalize on the continuance of existing trends in the market.[4]

In 1993, Narasimhan Jegadeesh and Titman published Returns to Buying Winners and Selling Losers: Implications for Stock Market Efficiency.[5] A study economist Robert Shiller called a bombshell.[6]

Follow up research on Titman's momentum paper has been done in academia and private organizations such as Cliff Asness's AQR Capital Management.[7] Investment managers such as Paul Woolly have criticized Momentum Investing, claiming it leads to asset bubbles.[8]

Select awards and honors[edit]

Selected bibliography[edit]

Books[edit]

Articles[edit]

See also[edit]

References[edit]

  1. ^ "Gerstein Fisher Academic Partners". Gersteinfisher.com. Retrieved 2014-05-05. 
  2. ^ "Amazon listing for Financial Markets and Corporate Strategy". Amazon.com. Retrieved 2014-05-05. 
  3. ^ Shiller, Robert J. (2015-08-27). "Rising Anxiety That Stocks Are Overpriced". The New York Times. ISSN 0362-4331. Retrieved 2016-08-10. 
  4. ^ "Momentum Investing Definition". 2007-06-26. Retrieved 2016-08-10. 
  5. ^ Jegadeesh, Narasimhan; Titman, Sheridan (1993-03-01). "Returns to Buying Winners and Selling Losers: Implications for Stock Market Efficiency". The Journal of Finance. 48 (1): 65–91. doi:10.1111/j.1540-6261.1993.tb04702.x. ISSN 1540-6261. 
  6. ^ Shiller, Robert J. (2015-08-27). "Rising Anxiety That Stocks Are Overpriced". The New York Times. ISSN 0362-4331. Retrieved 2016-08-10. 
  7. ^ Asness, Clifford S.; Frazzini, Andrea; Israel, Ronen; Moskowitz, Tobias J. (2014-05-09). "Fact, Fiction and Momentum Investing". Rochester, NY: Social Science Research Network. SSRN 2435323Freely accessible. 
  8. ^ Authers, John (2014-03-09). "Why are markets inefficient and what can be done about it?". Financial Times. ISSN 0307-1766. Retrieved 2016-08-10. 

External links[edit]