1. Roger G. Ibbotson is professor in the practice of finance at the Yale School
of Management, New Haven, Connecticut, and chairman and CIO of Zebra Capital Management,
LLC, Milford, Connecticut.
2. Zhiwu Chen is professor of finance at the Yale School of Management, New
Haven, Connecticut.
3. Daniel Y.-J. Kim is research director at Zebra Capital Management, LLC,
Milford, Connecticut.
4. Wendy Y. Hu is senior quantitative researcher at Permal Asset Management,
Inc., New York City.