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Steve is the Franco Modigliani Professor of Finance and Economics at MIT. Steve invented arbitrage pricing theory (APT) and has made major contributions to the theory of valuing options and other derivative securities. His research explores financial markets, corporate finance, investments, valuation and the economics of uncertainty. Steve is a co-founder of Roll and Ross Asset Management Corp., a quantitative financial management firm with over $3 billion in assets. He is also currently a member of the board of directors of Freddie Mac and a trustee of CalTech. | 