Gregory S. Berns M.D.
Professor of Psychiatry and Behavioral Sciences, Emory University School of Medicine

Dr. Berns is one of the only board-certified psychiatrists in the United States who also has a Ph.D. in biomedical engineering. He is an Associate Professor of Psychiatry and Behavioral Sciences in the Emory University School of Medicine in Atlanta, GA. He graduated cum laude in physics from Princeton University, received a Ph.D. in biomedical engineering from the University of California, Davis and a M.D. from the University of California, San Diego. Dr. Berns specializes in the use of brain imaging technologies to understand human motivation and decision making. His latest interest is in neuroeconomics and neuropolitics. He has received numerous grants from the National Institute of Health and has published over 30 peer-reviewed original research articles, in such journals as Science, Nature, and Neuron and is the author of Satisfaction (Henry Holt, 2005). Dr. Berns' research is frequently the subject of popular media coverage, including articles in the New York Times, Wall Street Journal, Money, Oprah, Forbes, The Financial Times, The New Scientist, Wired, Washington Post, Chicago Tribune, International Herald Tribune, and Los Angeles Times. He speaks frequently on CNN and NPR, and has been profiled on ABC's Primetime.

Laurence Gonzales
Author

Laurence Gonzales won the 2001 and 2002 National Magazine Awards from the American Society of Magazine Editors for National Geographic Adventure Magazine. Since 1970, his essays have appeared in such periodicals as Harper's, Rolling Stone, Men's Journal, National Geographic Adventure, Smithsonian Air and Space, Chicago Magazine, San Francisco Magazine, and many others. He has published a dozen books, including two award-winning collections of essays, three novels, and the book-length essay, One Zero Charlie, published by Simon & Schuster.

His latest book Deep Survival (www.deepsurvival.com) is available now in paperback from W.W. Norton & Company, and around the world in English, Chinese, Korean, Japanese, Italian, and Spanish.

Richard L. Peterson M.D.
Managing Partner, Market Psychology Consulting, San Francisco, California, USA

Richard Peterson is Co-founder and Managing Partner of Market Psychology Consulting, where he is currently engaged in trading algorithm development and investor coaching. He received a B.S. in Electrical Engineering and a M.D. from the University of Texas, followed by psychiatry residency training at San Mateo Medical Center and post-doctoral neuroscience research at Stanford University.

After completing his undergraduate studies, Richard designed stock and commodity index forecasting systems based on neural network statistical analysis for a small investing partnership. He traded futures and commodities for the partnership. He investigated the role of emotions in financial decision making during medical school and Stanford neuroimaging research. He founded Market Psychology Consulting during his psychiatry residency.

Richard has published scientific papers in economics, finance, psychology, and neuroscience journals. He is an associate editor of The Journal of Behavioral Finance. Richard is currently finishing a book for John Wiley to be (tentatively) entitled Inside the Trader’s Brain. He has authored investor psychological assessment tools and trading algorithms based on semantic news analysis. His primary professional interest is the role of emotion in investment decision making, and in particular, arbitrage of neural-based anomalies in the financial markets. His long-term fascination with market anomalies grew out of his early investing (since age 12) and futures trading activities, and it continues with the development of psychology-based trading algorithms.

Robert M. Sapolsky
Professor of Biology and Neurology, Stanford University

Dr. Sapolsky is a MacArthur "Genius" Fellow, a professor of biology and neurology at Stanford University, and a research associate with the Institute of Primate Research at the National Museum of Kenya. He lectures widely on topics as diverse as stress and stress-related diseases, baboons, the biology of our individuality, the biology of religious belief, the biology of memory, schizophrenia, depression, aggression, and Alzheimer’s disease. His new collection of essays is entitled Monkeyluv and Other Essays on Our Lives As Animals. Previous books include Why Zebras Don't Get Ulcers and A Primate's Memoir. [Dr. Sapolsky's appearance is made by special arrangement with Steven Barclay Agency www.barclayagency.com]

Elke U. Weber
Professor of Psychology, Columbia Business School

Professor Weber is the Jerome A. Chazen Professor of International Business at Columbia Business School and Professor of Psychology at Columbia University. Previously she has held academic positions in both the United States and Europe. She spent a year at the Center for Advanced Studies in the Behavioral Sciences at Stanford and half a year at the Wissenschaftskolleg in Berlin. She is an expert on behavioral models of decision making under risk and uncertainty. She has been investigating psychologically appropriate ways to measure individual and cultural differences in risk taking, specifically in risky financial situations and environmental decision making and policy. Weber is past president of the Society for Mathematical Psychology and the Society for Judgment and Decision Making and has served on three advisory committees of the National Academy of Sciences in Washington, DC. At Columbia, she founded and co-directs the Center for the Decision Sciences (CDS), which fosters and facilitates cross-disciplinary research and graduate training in the basic and applied decision sciences, and the Center for Research on Environmental Decisions (CRED), which investigates ways of facilitating human adaptation to climate change and climate variability.

Michael Mauboussin
Senior Vice President, Chief Investment Strategist

Michael Mauboussin joined Legg Mason Capital Management as Chief Investment Strategist in 2004. Prior to joining Legg Mason, Michael was a Managing Director and Chief U.S. Investment Strategist at Credit Suisse First Boston. Michael joined CSFB in 1992 as a packaged food industry analyst. He is a former president of the Consumer Analyst Group of New York and was repeatedly named to Institutional Investor’s All-America Research Team and the Wall Street Journal All-Star survey in the food industry group.

Michael is the author of More Than You Know: Finding Financial Wisdom in Unconventional Places (Columbia University Press, 2006), and co-author of Expectations Investing: Reading Stock Prices for Better Returns (Harvard Business School Press, 2001). He has also been an adjunct professor of finance at Columbia Business School since 1993. BusinessWeek's Guide to the Best Business Schools (2001) highlighted Michael as one of the school's "Outstanding Faculty," a distinction received by only seven professors. In 2004, SmartMoney magazine named Michael as one of its Power 30, a list of "the most influential people on Wall Street".

Michael is on the Board of Trustees at the Santa Fe Institute, a leading center for multi-disciplinary research in complex systems theory. He received a B.A. in government from Georgetown University.

Bill Miller, CFA
Chairman, Chief Investment Officer, and Portfolio Manager

Bill Miller is one of today’s most renowned professional money managers. He is Chairman and Chief Investment Officer of Legg Mason Capital Management and leads a team that manages $61.4 billion of assets as of 6/30/06.

Bill Miller currently manages the Value Trust and Opportunity Trust mutual funds. Legg Mason Value Trust is the only mutual fund to outperform the S&P 500 in each of the past 15 calendar years¹. Over the years, Bill Miller and his team have received numerous accolades for their management record and distinct style, which focuses on a detailed understanding of businesses and their intrinsic value.

His unique investment management philosophy and approach to undervalued stocks has also made him the subject of profiles in numerous books, as well as publications, including The New York Times, Barron’s, BusinessWeek, Kiplinger’s, Money, The Wall Street Journal, Fortune, and SmartMoney.

He was ranked among the top 30 most influential people in investing when he was named a member of the "Power 30" by SmartMoney. He was also named by Money magazine as "The Greatest Money Manager of the 1990’s" and named Morningstar’s 1998 "Domestic Equity Manager of the Year." In 1999, he was selected as the "Fund Manager of the Decade" by Morningstar.com. Also in 1999, Barron’s named him to its All-Century Investment Team and BusinessWeek called him one of the "Heroes of Value Investing."

Bill assumed overall responsibility for the equity funds management area of Legg Mason Capital Management in late 1990. Prior to this time, he co-managed (with Ernie Kiehne) the Legg Mason Value Trust from its inception in 1982. He was the Director of Research of Legg Mason from October 1981 through June 1985. He earned his economics degree from Washington and Lee University where he graduated with honors in 1972. Subsequent to graduation, he served as a military intelligence officer overseas and then pursued graduate studies in Philosophy in the Ph.D. program at The Johns Hopkins University. Prior to joining Legg Mason in 1981, he served as treasurer of the J.E. Baker Company, a major manufacturer of products for the steel and cement industries. Bill received his CFA designation in 1986.

Bill currently serves as Chairman on the Board of Trustees of the Santa Fe Institute, one of the world’s leading scientific research laboratories, which conducts multi-disciplinary research in complex systems theory.

¹ Past performance does not guarantee future results. The Value Trust’s inception date is April 16, 1982. The fund’s 1-, 5-, 10- and 15-year average annual total returns for the period ended 6/30/06 were 2.70%, 2.58%, 13.40%, and 15.03%, respectively. The S&P 500’s 1-, 5-, 10- and 15-year average annual total returns for the period ending 6/30/06 were 8.63%, 2.49%, 8.32% and 10.73%, respectively. The investment return and principal value of the fund will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. Calculations assume reinvestment of dividends and capital gain distributions. Performance would have been lower if fees had not been waived in various periods. The S&P 500 is an unmanaged index of common stock prices that is generally considered representative of the U.S. stock market. This fund is distributed by Legg Mason Investor Services, LLC, Member NASD.