Professional knowledge of teachers has been the topic of many research papers in the field of teacher education published in recent years. Less attention, however, is given to professional knowledge of teacher educators, the focus of this paper. The paper examines the issue by discussing some of the literature on the subject and by asking novice teachers and teacher educators about the characteristics of good teacher educators, the professional knowledge of teacher educators, and the difference between the professional knowledge of teacher educators and teachers. Furthermore, experienced teacher educators were asked to choose artifacts as evidence to be included in a presentation portfolio of their professional competence. Findings indicate that even though there is much overlapping in the professional knowledge of the two groups of professionals, there are also distinct differences of importance to the current discussion on education for and standards of teacher educators. (Contains 42 references.) (Author/SM)