The IAFE/SunGard Financial Engineer of the Year Award recognizes individual contributions to the advancement of financial engineering technology. As the ninth recipient of the award since its inception in 1993, Dr. Lo joins a prestigious list of previous winners.
Dr. Lo was selected for this award for his advancement of investment management theory and financial econometrics. His work regarding the non-random nature of financial markets represents a dramatic new way for practitioners and theorists to view the capital markets.
Dr. Lo is the Harris & Harris group professor at the MIT Sloan School of Management and the director of MIT’s Laboratory for Financial Engineering. He said, "This is really a singular honor, and I’m grateful to the IAFE and SunGard for including me in such illustrious company, especially since my research has benefited so much from the work of previous winners of this award."
Jim Ashton, chief executive officer of SunGard Trading and Risk Systems, said, "Dr. Lo’s significant work in revealing the pitfalls of data-snooping biases opened the door for him to displace entrenched theories in finance. We present this award to Dr. Lo in order to honor his lifetime of achievements in this field."
Tanya Styblo Beder, chairman of the IAFE, added, "Dr. Lo's work in the foundations of technical analysis and his empirical studies of the stock market are tremendously valuable to investors and investment managers."