JOHN D. STOWE, CFA, PHD, is Head of Curriculum Development at CFA Institute. Prior to joining CFA Institute, he was a professor of finance and associate dean at the University of Missouri-Columbia, where he taught investments and corporate finance. Stowe has won several teaching awards and has published frequently in academic and professional journals in finance. He is also coauthor of a college-level textbook in corporate finance. Stowe earned his BA from Centenary College and his PhD in economics from the University of Houston. He obtained his CFA charter in 1995 and began grading CFA examin...