G. Kevin Spellman

G. Kevin Spellman

  • Professor of Practice, Finance
  • David O. Nicholas Director, Investment Management


PhD, Accounting and Finance (Field of Study: Behavioral Finance), Durham University (UK)
MS, Finance, University of Wisconsin-Madison
BS, Finance, University of Wisconsin-La Crosse
Chartered Financial Analyst

Areas of Expertise

Dr. Spellman's recent academic pursuits have been in investments, including security analysis through portfolio management. His research focuses on issues related to behavioral finance, investment strategy, quantitative investments, and asset pricing. Dr. Spellman has developed a model to explain over- and under-reaction in different performance settings. He has taught various courses in financial management, investments, CFA review, and forensic accounting, and he has directed/led/taught in student investment programs at the University of Wisconsin-Milwaukee, IE Business School (in Madrid), University of Wisconsin-Madison, and The Ohio State University. He has also helped start programs and been a board member of student funds at University of Wisconsin-La Crosse and Dayton University, and he has taught at Durham University (UK).

Professional Activities

Dr. Spellman has been involved in professional money management since 1994. He has worked at various firms on the buy-side and sell-side of Wall Street. His experience crosses most asset classes (domestic equity, international equity, private equity, real estate, business valuation, etc.), investment styles (contrarian, value, growth, momentum), and types of analysis (quantitative, fundamental, economic/strategic, behavioral). He has been an analyst, portfolio manager, and director of research. He continues to consult for various sell-side and buy-side investment firms in the area of behavioral finance, asset pricing, strategy, and quantitative investments. He is a member of the CFA Institute, has been a member of various CFA societies, and was a board member of the CFA Society of Madison.

Curriculum Vitae