A. These are just some of the contributions
William F.

marx maintained

Stanislaw and the other CERA partners
sold their interest in the company in 2004 and Stanislaw thereafter
voluntarily and amicably separated from CERA.
"Insights from a Pioneer in Portfolio Theory and Practice: A Talk with
Nobel Laureate William F.

thought trinity

Stanislaw is
one of several people to have been awarded an Honorary Doctorate and
Professorship from Gubkin Russian State University of Oil and Gas. Dr.

economics theory




With annual sales of $40 billion, Dow serves customers in 175
countries and a wide range of markets that are vital to human progress: food,
transportation , health and medicine, personal and home care, and building and
construction, among others. Sharpe also
reminisces about winning the 1990 Nobel Prize in Economic Sciences.

theory fellow


and global energy industry leadership on future trends in the global energy
market, and will assist in shaping responses to those developments for
Deloitte's clients, focusing on sustainable emerging technologies and
innovation . Learn more at http://www. Each of the
member firms is a separate and independent legal entity operating under the
names "Deloitte", "Deloitte + Touche", "Deloitte Touche Tohmatsu" or other
related names .
Sharpe talks about these topics and more in an exclusive interview in the
Journal of Investment Consulting, Volume 7, Number 2, Winter/Spring 2005, just
released by the Investment Management Consultants Association (IMCA(R)).D.

IMCA is the principal professional association of the investment
consulting industry, ensuring quality service to the public by developing and
encouraging the highest of standards, broadening the public's understanding of
investment management consulting, and promoting professional education and
practice standards for investment consultants.

Sites about the neo-Ricardian economist.

sraffa intellectual

"Joe's knowledge, insight and experience in
domestic and global energy issues will enrich the services and perspectives we
provide in bringing value to our clients."
"We are delighted to welcome Joe Stanislaw as Independent Senior Advisor
to our energy practice ," said Gregory Aliff, vice chairman and national
managing partner, Energy + Resources, Deloitte + Touche USA LLP. "He is one of
the most respected global thought leaders in the energy industry, particularly
in his understanding of energy markets and the geopolitical impacts on this
industry . Stanislaw is a
co-author, with Daniel Yergin, of The Commanding Heights: The Battle for the
World Economy.5 cents per share, payable
April 29, 2005, to shareholders of record on March 31, 2005.

economist papers

A .S. Sharpe's noted theories, their applicability in today's markets, and
areas of financial economics that need further exploration.


resurrect pierro

We are excited to bring Joe's unique perspective, vast experience
and capabilities to our exceptional team of energy industry specialists and to
our clients, here and around the world. In Oil
and Gas, Deloitte provides services to upstream, midstream and downstream
companies, service and drilling companies and integrated multinational oil and
gas majors. Our dedicated practice of more than 1,400
professionals in the United States is unique among professional services firms
in that it brings together practitioners from our four businesses -- Audit,
Tax , Consulting, and Financial Advisory -- both in the U.
This is the 374th consecutive cash dividend issued by Dow. Creator of the Sharpe ratio for investment performance analysis.

value bibliography

HOUSTON, WASHINGTON and LONDON, Deloitte + Touche
USA LLP today announced that Joseph A."
"I look forward to working with Deloitte's Energy + Resources industry
practice," Stanislaw said. activity until 1997 when he was named president and
later named chief executive officer. in Economics
from the University of Edinburgh, and was awarded an M.S. and throughout our
global practice, to provide comprehensive solutions to complex industry
issues.deloitte. In the US, services are provided by the subsidiaries of Deloitte +
Touche USA LLP (Deloitte + Touche LLP, Deloitte Consulting LLP, Deloitte
Financial Advisory Services LLP, Deloitte Tax LLP and their subsidiaries), and
not by Deloitte + Touche USA LLP.
Dow is a leader in science and technology, providing innovative chemical,
plastic and agricultural products and services to many essential consumer
markets.D.

thought maintained

He was a senior
economist at the OECD International Energy Agency in Paris.
He received a B. Power and Utilities companies . Since 1912,
Dow has paid its shareholders cash dividends every quarter and has either
maintained or increased the quarterly dividend amount throughout that time.
For further information, visit http://www.

interpretation bibliography

"
Stanislaw was one of three founders of CERA in 1983 and served as managing
director for all non-U.S. Stanislaw was a Research Fellow of Clare Hall and lecturer in
Economics at Cambridge University, where he was also a member of the Energy
Research Group in the University's Cavendish Laboratory. MIDLAND, Mich.

fellow economist

Dow Declares Quarterly Dividend of 33.5 Cents per Share

Editor-in -Chief Edward Baker, CEO of Alliance
Capital Limited, and the JEAB, an editorial board of prominent investment
consultants and scholars, solicit and publish original articles and research
on investment management, capital markets, fiduciary practice, and ethics.

piero marx


As an energy industry leader, advisor , strategist and commentator with
over 30 years of industry experience, Stanislaw will advise Deloitte 's U.

tries marx

Stanislaw is
founder of the advisory firm The JAStanislaw Group, LLC, specializing in
strategic thinking and investment in energy and technology, and co-founder and
former president and chief executive officer of Cambridge Energy Research
Associates (CERA)."
"Deloitte is fortunate to have the opportunity to leverage the insights
and experience of Joe Stanislaw", said Peter Newman, Global Leader, Oil + Gas,
Deloitte Touche Tohmatsu. Sharpe, Ph. Dr.

piero marx


Stanislaw is an adjunct professor in the Nicholas School of the
Environment and Earth Sciences at Duke University, where he is a Member of the
Board of Advisors for the Nicholas Institute for Environmental Policy
Solutions.
Deloitte + Touche USA LLP is the US member firm of Deloitte Touche
Tohmatsu.com .

sraffa economist

value economics

S.
"I am pleased to welcome Joe Stanislaw," said James H. "His extensive international knowledge and forward
thinking will be of great benefit to our clients around the world. Services are provided by the member firms or their subsidiaries
or affiliates and not by the Deloitte Touche Tohmatsu Verein. DENVER , Architect of the capital asset pricing
model. A
father of modern portfolio theory.

cambridge economics

Joseph A . Stanislaw to Serve as Independent Senior Advisor to the Energy + Resources Practice of Deloitte + Touche USA LLP

We are the independent auditors to 70 percent of the Fortune 1000
U.com/us/energy . References to "Dow" or the
"Company" mean The Dow Chemical Company and its consolidated subsidiaries
unless otherwise expressly noted.

marx trinity

Stanislaw has taken a position as
Independent Senior Advisor to its Energy + Resources practice.," focuses on the development of some
of Dr.

maintained papers

Committed to the principles of sustainable
development, Dow and its 43,000 employees seek to balance economic,
environmental and social responsibilities. Sharpe, Ph.

bibliography insights

dow.

Journal of Investment Consulting Interviews Nobel Laureate William Sharpe Ph.D.

IMCA awards the prestigious
Certified Investment Management Analyst (CIMA (R)) designation to qualified
consultants worldwide.

theory intellectual

Quigley, CEO,
Deloitte + Touche USA LLP. "Deloitte leadership clearly understands the
growing importance of energy, technology and the environment on the world
stage, and I am excited about taking an active advisory role with a major
global professional services provider in addressing the challenges faced by
the industry in a rapidly changing world. Now in the second edition, the book has been translated into 13
languages and made into a six-hour documentary on PBS., cum laude, from Harvard College, a Ph. from the University
of Cambridge when he was elected a Research Fellow of Clare Hall.

About Deloitte's Energy + Resources Practice
Deloitte's Energy + Resources practice serves more than 250 clients across
all segments of the industry -- Oil and Gas, Power Generation, and Regulated
Utilities -- including 95 percent of the Fortune 1000 energy companies.

neo piero

As
a Swiss Verein (association), neither Deloitte Touche Tohmatsu nor any of its
member firms has any liability for each other's acts or omissions.

insights interpretation



About Deloitte
Deloitte refers to one or more of Deloitte Touche Tohmatsu, a Swiss
Verein, its member firms and their respective subsidiaries and affiliates., The Dow Chemical Company
(NYSE: DOW), today declared a dividend of 33.
Published twice a year, the Journal of Investment Consulting is the
scholarly publication of IMCA.

value sraffian

D.


, has made to the world of financial economics.

piero fellow

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