June, 2006


Professor of Management Science and Information Systems

College of Business Administration

The University of Rhode Island

Kingston, RI  02881


Voice:  401-874-4247

Fax:     401-874-4312




1971    Ph.D.      University of Cincinnati   Quantitative Analysis/Finance

1967    M.B.A.    University of Cincinnati   Economics

1966    BSAsE    University of Cincinnati   Aerospace Engineering


Assistant Professor      1971

Associate Professor     1975

Professor                     1981

Prior Employment

1967-1971  University of Cincinnati, Instructor in Quantitative Analysis

1965-1967  General Electric Large Jet Engine Division, Evendale, Ohio, Advanced Combustion Lab


Best teacher award, URI Executive MBA Class 16 (2001).


University of Rhode Island Foundation, Instructional Technology Grant, $1500, 1997 (with Alan Humphrey). 


Instructional Excellence Award, College of Business Administration, University of  Rhode Island, 1996.


The National Science Foundation, University/Industry Cooperative Research Center in Robotics, Division of Industrial Science and Technological Innovation, $87,000, 1982-84. (with Frank S. Budnick)


CLUSTAN Research Fellow, Department of Computational Science, University of St. Andrews, Scotland, $14,000, 1979.


Taught eighteen different courses within four (out of four) specialization areas in the department:


Management Science:                          MGS101, MGS364, MGS365, MGS366, MSI309, MSI350, MBA520

Computing and Information Systems:  QBA207, QBA500, MIS600, MIS605, MSI310

Statistics:                                              MGS201, MGS202, MGS530, MGS601, MGS602

Operations Management                      MSI309.


Current courses all Web/distance-learning based at site  Syllabus, lecture notes, software, and other course materials completely electronic, viewable, and downloadable.  All courses include intensive use of class lists and e-mail as part of class contributions and interactions.


New experimental course introduced, Programming Concepts for Business (MIS388X), 1992.


First to teach MIS600, MIS605, and mass lecture version of QBA207.


Attended the Southeast Master Teacher Program at Georgia State University, a six-day program on instructional development, June, 1992. 


Attended six workshops on instructional development, Instructional Development Program, URI, Summer/Fall, 1992.


The QBA207 mass lecture course included a complete set of new lecture notes for overhead projectors.  Students acquire these notes before each lecture by electronically spooling them to line printers.  These lecture notes were subsequently used by three other instructors in the course.


The lecture-note approach in QBA207 is also used in MGS364, QBA500, MIS600, and MGS620.


Preparation of draft for Ph.D. core program and business Ph.D. program structure for MGS concentration (1977-79 version, with Dennis McLeavey).


Seventeen directed study courses, an M.B.A. internship, and two thesis committees for the M.S. in Industrial Engineering.  Recent emphasis on Web site development externships.


Extensive revisions to curriculum for departmental major, including new course descriptions, catalog descriptions, and other program changes (1972-73, 1980-81, 1995-96).



Refereed Articles

Mojena, R., "Ward's Clustering Algorithm," Encyclopedia of Statistical Sciences, Wiley: New York, V. 9, 1988, pp. 529-532.  (Invited article.)


Booth, G. G. and Mojena, R., "Switching Model for the Housing Decision," Omega, The International Journal Of Management Science, V. 6, No. 1, 1978, pp. 99-100.


Mojena, R., "Hierarchical Grouping Methods and Stopping Rules:  An Evaluation," The Computer Journal, V. 20, No. 4, 1977, pp. 359-363.


Mojena, R., Vollmann, T. E., and Okamoto, Y., "On Predicting Computational Time of a Branch and Bound Algorithm for the Assignment of Facilities," Decision Sciences, V. 7, No. 4, 1976, pp. 856-67.


Mojena, R., Booth, G. G., and Bowman, J. P., "A Deterministic Model for the Housing Decision," Omega, The International Journal of Management Science, V. 4, No. 1, 1976, pp. 85-91.


Kernan, J. B. and Mojena, R., "Information Utilization and Personality," Journal of Communication, V. 23:3, 1973, pp. 315-27.


Personal Note


The work in cluster analysis has been cited and extended in many publications, including SAS USER MANUALS, and resulted in sabbatical support for one year in Scotland from CLUSTAN, to develop software based on my published stopping rules.  A search for “mojena cluster” in Google Scholar shows hundreds of results.




Mojena, R., Turbo Pascal, Belmont:  Wadsworth Publishing Company, 1992, 821 pages (with 418-page INSTRUCTOR'S MANUAL and program diskettes).


Mojena, R. and Ageloff, R., FORTRAN 77, Belmont: Wadsworth Publishing Company, 1990, 599 pages (with 424-page INSTRUCTOR'S MANUAL and program diskettes).


Budnick, F. S., McLeavey, D. W., and Mojena, R., Principles of Operations Research For Management, Homewood: Richard D. Irwin, Inc., 1988, 988 pages (with 325-page INSTRUCTOR'S MANUAL).


Ageloff, R. and Mojena, R., Essentials of Structured BASIC, Belmont: Wadsworth Publishing Company, 1987, 209 pages (with 188-page INSTRUCTOR'S MANUAL, computerized test bank and program diskette).


Ageloff, R. and Mojena, R., Applied Structured BASIC, Belmont:  Wadsworth Publishing Company, 1985, 550 pages (with 475-page INSTRUCTOR'S MANUAL, computerized test bank and program diskettes).


Ageloff, R. and Mojena, R., Applied Structured WATFIV, Belmont:  Wadsworth Publishing Company, 1984, 619 pages.


Ageloff, R. and Mojena, R., Applied FORTRAN 77, Belmont:  Wadsworth Publishing Company, 1981, 550 pages (with 400-page INSTRUCTOR'S MANUAL).


Ageloff, R. and Mojena, R., Applied BASIC Programming, Belmont:  Wadsworth Publishing Company, 1980, 444 pages (with 308-page INSTRUCTOR'S MANUAL).


Ageloff, R. and Mojena, R., Fundamentals of FORTRAN for Management, Belmont: Wadsworth Publishing Company, 1979, 443 pages (with 170-page INSTRUCTOR'S MANUAL).


Budnick, F. S., Mojena, R., and Vollmann, T. E., Principles of Operations Research for Management, Homewood: Richard D. Irwin, Inc., 1977, 756 pages (with 325-page INSTRUCTOR'S MANUAL).



Personal Notes


The 1980 BASIC book was translated into Spanish and published in 1985 by McGraw-Hill Book Company.


The operations research book was published in Taiwan in 1979.


The 1990 FORTRAN book includes a separate International Student Edition.


The publishers estimate new and used book sales of better than one million copies, with known usage by more than 500 colleges in the US and abroad, including UC Berkeley, Columbia, Carnegie-Mellon, Case-Western Reserve, Georgia Tech, Illinois, Indiana, London School of Economics, McGill, Minnesota, MIT, Rochester, Texas at Austin, Tulane, USC, UCLA, Wharton, Wisconsin, and Yale.






Extensive materials and research results published at stock market timing Web site: 

·         Actual return performance since 1990 beats S&P500 with about half the risk, about double the risk-adjusted return.

·         Over one million visits.

·         Citations: Google mojena market timing.

·         Stock market timing advice also published in The Barrington Group, Dick Davis Digest, The Internet Financial Connection, and Hot Stocks.


Six reports to the NSF relating to the URI Robotics Center, 1983-84 (with F. S. Budnick).


"Procedure RULES: Tests for a Significant Number of Clusters," in CLUSTAN USER MANUAL, D. Wishart, Supplement to Third Edition, Program Library Unit, Edinburgh University, 1982, pp. 14-17.


Mojena, R, and Wishart, D (1980) “Stopping rules for Ward's clustering method,” COMPSTAT 1980 Proceedings, Physica-Verlag, pp. 426-432.


Eight articles in published proceedings of professional societies.


Twenty-three papers read, discussed, and sessions chaired at conferences of professional societies.


Five tutorials on cluster analysis to meetings of professional societies and universities.


Five grant proposals to IBM, US Maritime Administration, Rhode Island Port Authority and Economic Development Corporation, and the NSF.



Served on 20 departmental committees, chairing six.


Extensive revisions to curriculum in 1972-73, 1980-81, 1995-96.


University College Advisor, 1995-2000.


Presentation CBA Breakfast Series, “Return, Risk, and Market Timing:  The 5% Solution,” URI Providence Center, 1998.


URI Welcome Day computer laboratory demonstrations, 1995-98.


Served on 29 college committees, chairing five.


Presentation "Confessions of a Closet Stock Market Timer," CBA Luncheon Seminar Series, 1992.


Presentation "Instructional Development," CBA Faculty Retreat, 1992.


Presentation "A Stock Market Timing Model," CBA Advisory Associates Program, 1992.


Presentation on robotics to Business Advisory Council, Alton Jones Campus, 1982.


Worked on Ph.D. core proposal, 1978-79.


Presentation on financial modeling to Business Alumni College, 1974.


Workshop Alumni Day, “Take a Ride on CBA’s Information Superhighway,” 1998.


Applied Math Ph.D. Committee, 1982-83.


Ad Hoc Committee on Statistics, Budget Task Force, 1975.


Curricular Affairs Committee, 1972-75.


Developed and currently maintain stock market timing Web site ( 


Consulting Economist for HispanTelligence, Hispanic Business, Inc., 2001.


Consultant to Applied Science Associates on a model that optimally evacuates personnel from offshore drilling platforms for PEMEX, 2001.


Contributing editor to other stock market Web sites and publications, including The Internet Financial Connection, Hot Stocks, and Dick Davis Digest.


Editor and publisher of the financial newsletter The SMART Letter, 1992-96.


Various public presentations on stock market timing to alumni groups, Association for Computing Machinery (Investment Interest Group, Boston Chapter), and The American Association of Individual Investors (Rhode Island Chapter).


Participated in the session "So You Want to be a Writer," Borland International Developers Conference, Monterey, 1992.


Beta-tested Turbo Pascal, Revision 6 and Borland Pascal, Revision 7, 1990-1992.


Consultant on a networked PC system for Jardon Chiropractic Clinic, West Warwick, 1990.


Refereed seven papers for journals (Decision Sciences, Management Science) and professional societies (DSI), 1978-84.


Reviewed two grant proposals for the NSF, 1983.


Developed clustering computer programs in the commercial system CLUSTAN, Release 2.1, 1980.


Presented "Forecasting and Modeling on Computers," Data Processing Management Association, Groton, 1977.


Conducted three executive development seminars on "Statistical Forecasting for Production Planning and Inventory Control," in Hartford and Toronto for Penton Learning, Inc., 1975-76.


Director of the Northeast Region of the American Institute for Decision Sciences, 1972-75.


Consultant to Bostitch Division of Textron, Inc., 1972, on an online forecasting system for sixteen product lines.