Professor of Accounting Brett Trueman had a penchant for Wall Street at an early age and so it’s no surprise that he chose to pursue a career that involved finance and accounting. He plots his road to UCLA.
Q: With your early interest in Wall Street, did you always plan to work in areas related to business?
When I began my studies at Columbia, I was really into math and science and expected to major in aerospace engineering. But, I switched to industrial engineering once it became clear to me that my passion lay in business. Ultimately, I moved to the business school at Columbia and earned my MBA.
Q: No tugs from the private sector?
As I neared the completion of the MBA program, I applied for positions as a securities analyst. At the time it seemed like an ideal job for me, as it combined my interest in Wall Street with the desire to do analytical research. I got an offer to work as an analyst at Bank of New York. At first, I thought that it would be a great job. But, I came to realize that working in a corporation wasn’t for me. I like the idea of teaching, doing research, and having the freedom to choose my own research projects. So, I chose to get a Ph.D. in finance.
Q: You earned all of your degrees at Columbia? Why not stay in New York?
I grew up in The Bronx and was tired of the daily struggles associated with living in New York. The not-so-great weather, the crowds, and the very frenetic pace were all reasons to leave the city.
Graduating with a Ph.D. in finance, I was looking for a strong finance department. UCLA had, and still has, a very highly-ranked finance faculty. The choice was an easy one.
Q: You moved to Berkeley in the ’80s. What brought you back to UCLA?
Over time my interests migrated from finance to accounting, where my research is now focused. The accounting group at UCLA is quite strong. This made it very attractive to return here.
Q: Aside from teaching, are you involved with the university in any other capacity?
I currently serve on the university’s Council on Academic Personnel (CAP). This is a campus-wide committee that reviews cases for tenure and promotion. You learn a lot about the great research being done all across UCLA and get a chance to discuss things with a room full of very smart people.
Q: What keeps you here?
The faculty at UCLA is the prime reason. Most of my friends are here and I love Los Angeles. I am heavily involved in my synagogue (Beth Chayim Chadashim — the world’s first synagogue with an outreach to the LGBT community). I served as president and treasurer and headed a capital campaign that raised $3.5 million for a new building. I’m thrilled that I have had the opportunity to apply my business knowledge to help the organization thrive.
Q: And what is it about teaching that excites you?
For MBA students, it’s great to know that what I teach will be immediately useful to them. Accounting is something all students need to know, regardless of the career path they choose. For Ph.D. students, I feel good knowing that I am helping them develop the strong research skills that are necessary for them to have a successful academic career. It is extremely satisfying when a graduating Ph.D. student lands a position at a top university.
Q: Most gratifying moments?
When students say, “I am using what you taught me in class.”
Q: Can you tell us a little about your current research projects?
One of the projects that I am currently working on with a few of my colleagues involves the development of a measure of firm-level investor sentiment. Our empirical analysis suggests that a firm’s overnight stock returns provide an indication of whether investors are overly optimistic or overly pessimistic about the firm’s prospects.
Q: Any interesting factoid about you that many people might not know?
Both my husband’s mother and my mother came from Eastern Europe. In 2013 we went on a maternal roots trip to Poland and Hungary to visit the towns where they were born. While we couldn’t confirm specific street addresses, and suspect that their homes may have been destroyed in the war, there was a feeling of joy to be standing in their home towns.
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