When Seemingly Infallible Arbitrage Strategies Fail

A principal of Jacobs Levy Equity Management. He was formerly senior managing director of a quantitative equity management affiliate of the Prudential Asset Management Company. Before that, he was on the finance faculty of the University of Pennsylvania's Wharton School. Mr. Jacobs received a B.A. from Columbia College and an M.S. in operations research and computer science from Columbia University's School of Engineering and Applied Science, an M.S.I.A. from Carnegie-Mellon University's Graduate School of Industrial Administration, and an M.A. in applied economics and the Ph.D. in finance from the Wharton School. He is author of