Donald E. Farrar, Ph.D.

Donald E. Farrar, Ph.D. has over 30 years experience in the areas of economics, finance, capital markets and financial institutions in the United States and abroad. He has held faculty positions at a number of leading U.S. Universities and at Koc University in Istanbul, Turkey. He served as Director of the U. S. Securities and Exchange Commission's Institutional Investor Study, whose 8-volume Report originated the concept of a National Securities Market System in the United States and was later embodied in the 1975 Securities Acts Amendments. Don also served for 13 years as Executive Vice President and Director of Benham Management Corporation, a mutual fund management company in Northern California, and for the six preceding years as an independent director of Benham managed funds. In addition, he served as a director of Mattel, Inc., the Mattel Foundation, the Permanent Portfolio Fund and various Benham managed funds, including Capital Preservation Fund International (Luxembourg), for which he was Chief Operating Officer. He has served as a consultant to many organizations and has testified before federal regulatory agencies, state legislative bodies and on five occasions before Committees or Subcommittees of the U. S. Congress. His international consulting assignments have included: studies of capital markets in India, lectures on securities valuation and portfolio management in Croatia, lectures and consultation on the valuation of fixed income securities in Polish pension portfolios, the feasibility of establishing a mutual fund industry in Indonesia and both technical and policy issues faced by the Government of Moldova in its attempt to move from a centrally directed to a market economy. He is the author of The Investment Decision Under Uncertainty, and a co-author of Managerial Economics, Foundations of Modern Economics Series, Institutional Investor Study Report of the Securities and Exchange Commission, and Readings in Investments. Don has an A.B. in Economics from Harvard College and an A.M. and Ph.D. in Economics from Harvard University.