# Professor Menachem Brenner's research on volatility is cited

1 Faculty News September 21, 2015 ![Investor Wired logo](/sites/default/files/styles/246w/public/assets/images/investorwired.jpg?itok=eAeFMNLn)>

Excerpt from [Investor Wired](http://www.investorwired.com/potentially-risky-stocks-on-radar-organovo-holdings-inc-nysemktonvo-triangle-petroleum-corporation-nysemkttplm-bill-barrett-corporation-nysebbg/1756912) -- "The idea of a volatility index, and financial instruments based on such an index, was first developed and described by Prof. [Menachem Brenner](http://www.stern.nyu.edu/faculty/bio/menachem-brenner) and Prof. Dan Galai in 1986. Professors Brenner and Galai published their research in the academic article 'New Financial Instruments for Hedging Changes in Volatility,' which appeared in the July/August 1989 issue of Financial Analysts Journal."

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