"I entered academia on a tenure track at the University of California at Berkeley, while continuing to consult on projects. That led to consulting work for the asset management business of a major bank, which was trying to solve some investment problems for their own portfolios and for clients. I was coming at it from a slightly different angle, as a social scientist rather than just a pure finance guy. And we had some success. I think my different perspective helped me and my team develop ideas that had some traction. So I kept consulting while I was on the faculty at U.C. Berkeley. I had been consulting for Morgan Stanley for several years when the bank offered me the full-time position I have now."