Keith Black,

PhD, CFA®, CAIA,

CAIA Association

Keith Black has more than 20 years of financial market experience, serving approximately half of that time as an academic and half as a trader and consultant to institutional investors. Currently, he serves as managing director of curriculum and exams for the CAIA Association. Previously he worked at Ennis Knupp + Associates, where he advised foundations, endowments, and pension funds on their asset allocation and manager selection strategies in hedge funds, commodities, and managed futures. Before that, he worked in commodities derivatives trading at First Chicago Capital Markets, stock options research and Chicago Board Options Exchange market-making for Hull Trading Company, and building quantitative stock selection models for mutual funds and hedge funds for Chicago Investment Analytics. He served previously as an assistant professor and senior lecturer at the Illinois Institute of Technology's Stuart school, where he taught courses in both traditional and alternative investments. He contributes regularly to the CFA Digest, and has published in a number of journals, including the Journal of Trading, Journal of Investing, Journal of Alternative Investments, and the Journal of Derivatives and Hedge Funds. He is the author of the book Managing a Hedge Fund, and a contributor to the second of edition of the CAIA Level I and Level II textbooks. Mr. Black was named to Institutional Investor magazine's list of "Rising Stars of Hedge Funds" in 2010. He earned a BA from Whittier College, an MBA from Carnegie Mellon University, and a PhD from the Illinois Institute of Technology.