JOHN C. EDMUNDS is Chairman of the finance faculty at Babson College and Faculty Advisor to the Cutler Investment Manage-ment Center and the Babson College Fund. He is also on the faculty of the Arthur D. Little School of Management. Edmunds has taught previously at Harvard, Northeastern, and Boston Universi-ty and has consulted with the Harvard Institute for International Development, the Rockefeller Foundation, Stanford Research, and numerous private corporations. Edmunds holds a DBA in international business from the Harvard Business School, an MBA in finance and quantitative methods from Boston University, an MA in economics from Northeastern Uni-versity, and an AB in economics from Harvard College.