José M. Marín is Professor of Excellence at Carlos III University of Madrid. He has served as President of the Spanish Finance Association (AEFIN), member of the Group of Economic Advisers (GEA) of the European Security Markets Authority (ESMA), and member of the Expert Committee for the “Reform for the Sustainability of the Spanish Pension System”. Currently, Dr. Marín serves as member of the Consulting Board of the Spanish Independent Authority for Fiscal Responsibility (AIREF). He has published top international journals, such as the Journal of Finance, Journal of Financial Economics, Review of Economic Studies, Journal of Monetary Economics, Journal of Portfolio Management, Economic Theory, etc. He has worked as consultant and expert witness for several institutions, such as the European Central Bank (ECB), the European Investment Bank (EIB), ENDESA, UNION FENOSA GAS, ABENGOA, GC ONO, VODAFONE, GRUPO URALITA, etc. He has also served as senior consultant for Quantitative Financial Strategies, Inc. (QFS), and its affiliate Grossman Asset Management, LP.