Marshall E. Blume, PhD, a co-founder of Prudent Management Associates, was during his career Chairman of the Department of Finance at the Wharton School of the University of Pennsylvania and was the Director of the Rodney L. White Center for Financial Research at Wharton. He advised corporations such as AT&T, Dresser, and Exxon Mobil on investment strategies. He was a member of the Shadow Financial Regulatory Committee, the Financial Economist Roundtable, and the Academic Advisory Board of Standard & Poor’s. He also served on the board of the Measey Foundation and was the managing editor of the Journal of Finance and the chairman of the Economic Advisory Board of the National Association of Securities Dealers. Dr. Blume was widely recognized for his work on investment strategies, measurement of risk and pricing of financial assets.