Keith C. Brown, a Chartered Financial Analyst (CFA), is the Jack S. Josey Professor, University Distinguished Teaching Professor, and Fayez Sarofim Fellow at the McCombs School of Business at the University of Texas at Austin, where he teaches Investments, Portfolio Management and Security Analysis, Capital Markets, and Derivatives courses at the BBA and MBA levels. He is president and CEO of The MBA Investment Fund, LLC, a private capital appreciation fund managed by UT graduate students, and the former director of the department's Hicks, Muse, Tate & Furst Center for Private Equity Finance. Professor Brown is cofounder and senior partner of Fulcrum Financial Group, a portfolio management and investment advisory firm located in Austin, Texas, and Las Vegas, Nevada. He serves as an advisor to the boards of the Teacher Retirement System of Texas and the University of Texas Investment Management Company. He is an associate editor for the JOURNAL OF INVESTMENT MANAGEMENT and the JOURNAL OF BEHAVIORAL FINANCE. He received his B.A. from San Diego State University and his M.S. and Ph.D. from Purdue University.