IntroductionProfessor Bruce Corman Norbert Greenwald is Robert Heilbrunn Professor of Finance and Asset Management at Columbia Business School and Director of the Heilbrunn Center for Graham & Dodd Investing. He joined CBS in 1991.
His interests include value investing, economics of strategic behavior and globalization of markets and his courses are booked solid, the New York Times labelled him the guru to wall street's gurus. Warren Buffett sometimes walks in as a course guest and Greenwald's students describe his teaching as brilliant. Bruce Greenwald is a recipient of the Columbia University Presidential Teaching Award (1999-2000), Margaret Chandler Memorial Award for Commitment to Excellence in Teaching (1997 & 2000) and three time recepient of the Singhvi prize.
The course itself, which includes applied value investing and special situations investing, has it's own history, with Professors Benjamin Graham and David Dodd having taught value investment to students including Warren Buffett, Mario Gabelli, Leon Cooperman, Chuck Royce, Paul Sonkin and William von Muefflin.
"In the long run", says Professor Greenwald, "everything is a toaster". He refers to technological innovations, in the sense that every new breakthrough or innovation gradually becomes a commodity competing on the basis of price. He places more emphasis, an has written an article about it, on the effectiveness of human management and its direct relation to economic progress and disparity. What he conveys is that sustained growth comes through proper management, rather than breakthrough innovations.
Education
1967 B.S. - Electrical Engineering, M.I.T
1969 M.S. - Electrical Engineering, Princeton University
1969 M.P.A. - Public and International Affairs, Princeton University
1978 Ph.D. - Economics, M.I.T.
Books & Papers
Books written or co-authored by Professor Greenwald include:
- Adverse Selection in the Labor Market, Garland Press, 1980
- Towards a New Paradigm in Monetary Economics, UK, Cambridge University Press, 2003
- Value Investing: From Graham to Buffett and Beyond, New York: Wiley, 2001
- Competition Demystified: A Radically Simplified Approach to Business Strategy, New York, N.Y.: Portfolio, 2005
Another book, co-authored by Judd Kahn, is scheduled for a launch on March 3 2008 titled globalization: n. the irrational fear that someone in China will take your job
He has over 40 published papers, a lot of them dealing with imperfect information and financial markets. His current research focuses on globalized markets and international monetary policy. In July 2007, he co-authored a working paper for the National Bureau of Economic Research on 'the effects of devaluation in a financially fragile environment'.
Career: Professor Greenwald gained prominence when he was chosen as a staff economist on the Brady Task Force, which was set up to investigate the October 1987 stock market crash. Before that, he did stints with Bell Labs as a research economist and as an Assistant Professor at Harvard Business School. Update: According to this press release, Prof. Greenwald has agreed to join Arnhold and S. Bleichroeder Advisers, LLC (ASBA) as Director of Research for its Global Value Group.
References:
http://www0.gsb.columbia.edu/faculty/bgreenwald/index.html
http://www.amazon.com/s?&search-type=ss&index=books&field-author=Bruce%20Greenwald
http://www.nber.org/cgi-bin/author_papers.pl?author=bruce_greenwald
http://query.nytimes.com/search/query?&query=bruce+greenwald
http://www2.gsb.columbia.edu/hermes/winter2004/article_greenwald.cfm
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