J. Clay Singleton, Ph.D., C.F.A., is professor of finance in the Crummer Graduate School of Business at Rollins College. He was previously vice president of asset allocation consulting and training for Ibbotson Associates and senior vice president in charge of the Chartered Financial Analyst(r) program at the CFA Institute. Prior to his investment career Dr. Singleton was dean at the University of North Texas and taught at the University of Nebraska, the University of Virginia, and the College of William and Mary. He has won numerous awards for his teaching and published articles in academic a...