Keith C. Brown, Ph.D., CFA
University Distinguished Teaching Professor & Fayez Sarofim Fellow
Keith Brown holds the positions of University Distinguished Teaching Professor and Fayez Sarofim Fellow at the McCombs School of Business at the University of Texas at Austin, where he specializes in teaching Investments, Portfolio Management and Security Analysis, Capital Markets, and Derivatives courses at the BBA and MBA levels. He is also a member of the University’s Academy of Distinguished Teachers. For eleven years, he served as President and Chief Executive Officer of The MBA Investment Fund LLC, a private complex of equity and fixed-income portfolios managed by graduate students at the University of Texas and also was the Director of the Department of Finance’s Hicks, Muse, Tate & Furst Center for Private Equity Finance.
Keith is the co-founder and Senior Partner of Fulcrum Financial Group, a portfolio management, investment advisory, and business valuation firm located in Austin, Texas and Las Vegas, Nevada. Keith currently is Advisor to the Board of Trustees of Teacher Retirement System of Texas and to the Board of Directors of University of Texas Investment Management Company. He also serves as Associate Editor for Journal of Behavioral Finance and Journal of Investment Management and formerly held the position of Research Director for the Research Foundation of the Association for Investment Management and Research.
For more information on Keith's research and professional background, please follow the link to view a biographical sketch and curriculum vitae.
Address: Office: CBA 6.256
Department of Finance,
McCombs School of Business For the Spring 2017 semester, my hours are:
The University of Texas at Austin M 2:00 - 3:30 pm; W 11:00 am - 12:30 pm;
Austin, Texas 78712-1179 or by appointment
Phone: (512) 471-6520
Fax: (512) 471-5073
Ph.D. (Financial Economics), Purdue University, 1981
CFA, Institute of Chartered Financial Analysts, 1988
M.S. (Economics), Purdue University, 1978
B.A. (Economics), San Diego State University, 1977
My research interests include topics ranging from empirical investigations of how markets react to the arrival of “uncertain” information to the design and implementation of financial risk management strategies to performance and contracting in the professional money management industry. For abstracts and downloads of my past and current projects, please select from the following links:
The following classes are part of my regular teaching rotation:
• The AIM Investment Center in the Department of Finance at the University of Texas also sponsors many educational and professional programs:
• For information about the Chartered Financial Analysts (CFA) program as well as research and advocacy efforts in the investment management industry, see:
CFA Institute (formerly AIMR)
• The main website for the Department of Finance at the University of Texas is:
• For a quick link to the Blackboard entry page at the University of Texas:
• Some of the documents stored on this website are saved in PDF format. They can be opened with an Adobe Acrobat Reader available at the following location:
• I hate to write off the 2017 season already, but it looks like it will be at least 2019 before the team is competitive again:
• Here are a few good books to help you pass those idle moments:
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Last Updated During the Week of: March 20, 2017