Walter Torous

Professor Emeritus

Phone: (310) 825-2508


Walter Torous is founding director of the Ziman Center for Real Estate and Professor of Finance at UCLA Anderson.  He teaches managerial finance, real estate finance, and empirical methods in finance. Dr. Torous’ research interests include the pricing of financial instruments (options, future, risky debt, mortgages), the reorganization of financially distressed firms, as well as statistical issues in finance. 

Dr. Torous previously taught at the University of Michigan and the London Business School. His consulting clients include the U.S. Department of Housing and Urban Development, the Federal Home Loan Mortgage Corporation, and various thrifts, banks and other financial institutions. 


Ph.D. Economics, 1981, University of Pennsylvania
B.Math. Economics, 1976, University of Waterloo


Bankruptcy, Real Estate, Securities, Options Pricing, Future Markets, Mortgages
  • Clifford A. Ball, and Walter N. Torous. (December, 1999). The Stochastic Volatility of Short-Term Interest Rates: Some International Evidence. The Journal of Finance, 54, 6, pp. 2339-2359.
  • Michael J. Brennan, and Walter N. Torous. (July, 1999). Individual Decision Making and Investor Welfare. Economic Notes, 28, 2, pp. 119-143.