The Long View

Latest Episodes:

JL Collins: The Case for Simplicity Apr 05, 2022

Show notes

Our guest on the podcast today is author and blogger JL Collins. He blogs about financial and other matters at JLCollinsnh.com. Collins' first book, The Simple Path to Wealth: Your Road Map to Financial Independence and a Rich, Free Life was published in 2016 and has been an international best-seller. His latest book is How I Lost Money in Real Estate Before It Was Fashionable. That one came out in 2021.

Background

Bio

JLCollinsnh.com

The Simple Path to Wealth: Your Road Map to Financial Independence and a Rich, Free Life

How I Lost Money in Real Estate Before It Was Fashionable: A Cautionary Tale

Investing

"Stocks--Part XV: Target Retirement Funds, the Simplest Path to Wealth of All," by JL Collins, jlcollinsnh.com, Dec. 18, 2012.

“Stocks—Part XIII: The 4% Rule, Withdrawal Rates and How Much Can I Spend Anyway?" by JL Collins, jlcollinsnh.com, Dec. 7, 2012.

"The Alfred Hitchcock Path to FI," by JL Collins, jlcollinsnh.com, May 5, 2021.

"The Trinity Study and Portfolio Success Rates," by Wade Pfau, Forbes, Jan. 16, 2018.

"Stocks—Part XXVII: Why I Don't Like Dollar Cost Averaging," by JL Collins, jlcollinsnh.com, Nov. 12, 2014.

Real Estate

"Truly Passive Real Estate Investing," by JL Collins, jlcollinsnh.com, Nov. 28, 2018.

"Why Your House Is a Terrible Investment," by JL Collins, jlcollinsnh.com, May 29, 2013.

Other

The Psychology of Money, by Morgan Housel

Why Does the Stock Market Go Up? Everything You Should Have Been Taught About Investing in School, But Weren't, by Brian Feroldi

Quit Like a Millionaire: No Gimmicks, Luck, or Trust Fund Required, by Kristy Shen and Bryce Leung

Rich & Regular blog

Cashing Out: Win the Wealth Game by Walking Away, by Julien and Kiersten

Taking Stock: A Hospice Doctor's Advice on Financial Independence, Building Wealth, and Living a Regret-Free Life, by Jordan Grumet

Earn & Invest podcast

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Dan Otter and Scott Dauenhauer: Why Retirement Savings Options for Educators Are So Bad Mar 29, 2022

Show notes

Our guests on the podcast today are Dan Otter and Scott Dauenhauer. Together they run the website 403bwise, which is geared toward providing education and advocacy on retirement planning for educators. Dan started 403bwise in 2000 with John Moore as a means of shedding light on the often opaque landscape of retirement plans for K-12 educators. Scott is a certified financial planner and principal and owner of Meridian Wealth Management. He got interested in the 403(b) space after researching retirement plan options available to his wife, who is a teacher. They've each written books about 403(b)s and retirement planning for K-12 educators. Dan's is called Teach and Retire Rich, while Scott's book is called Wild West: Providing Fiduciary Advice to Public School Employees. They also host a podcast called Teach and Retire Rich, and they recently released a short podcast series called Learned by Being Burned: Teachers in the K-12 403(b).

Background

403bwise.org

Dan Otter

Teach and Retire Rich, by Dan Otter

Scott Dauenhauer

Wild West: Providing Fiduciary Advice to Public School Employees, by Scott Dauenhauer

Teach and Retire Rich podcast

Learned by Being Burned podcast

The Ins and Outs of 403(b)s

“401(k) and 403(b) Plans: Knowing the Difference,” investopedia.com, March 19, 2021.

“Many Teacher Pension Plans Get Failing Grade,” by Kaitlin Mulhere, money.com, Aug. 31, 2021.

“How 403bwise.org Provides Financial Education to K-12 Employees,” by Dan Otter, investmentnews.com, April 9, 2021.

What Is a 457 plan?

“457(b)s: The Solution to Bad K-12 403(b) Plans?” by Dan Otter, investmentnews.com, July 29, 2021.

“Project Aims to Grade 14,000 School Districts’ 403(b) Plans,” by Emile Hallez, investmentnews.com, Jan. 4, 2022.

“The Two Faces of 403(b) Index Funds,” by Scott Dauenhauer, 403b.substack.com, Oct. 7, 2021.

403bCompare.com

NEA DirectInvest

Next Gen Personal Finance

“Bringing Personal Finance to the Classroom for Generation Z,” by Ann Carrns, nytimes.com, March 18, 2022.

New York State Deferred Compensation Plan

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Eric Schoenstein: The Case for Quality Stocks Mar 22, 2022

Show notes

Our guest today is Eric Schoenstein. Eric is a managing director at Jensen Investment Management, where he serves as the firm’s chief investment officer and is a portfolio manager of several Jensen strategies, including its flagship Quality Growth strategy. That strategy is a concentrated portfolio of 25-30 stocks of growing businesses that Jensen’s team believes boast durable competitive advantages. Prior to joining Jensen in 2002, Eric was a senior manager at Arthur Andersen. He earned his bachelor’s in business administration from Oregon State University. He is also a trustee and the board chair for the Oregon State University Foundation Board of Trustees.

Background

Bio

Jensen Quality Growth

Quality and Growth

"15 Cheap Growth Stocks Amid the Volatility," by Dave Sekera, Morningstar.com, Feb. 28, 2022.

"The Best Way To Capture Quality Growth," by Helen Fowler, ETF.com, Dec. 4, 2013.

"The What, Why, and How of Quality," by Ben Johnson, Morningstar.com, March 30, 2016.

“A Closer Look at Quality: The Fuzziest of Factors,” by Ben Johnson, Morningstar.com, Feb. 13, 2019.

Risk Management

“Risk Management--U.S. Equity Investing,” by Eric H. Schoenstein.

“Interview With Eric Schoenstein of Jensen Investment Management,” Motley Fool, June 3, 2016.

“Jensen Quality Growth Invests Patiently--and Very Successfully,” by Reshma Kapadia, Barron’s, Jan. 21, 2017.

“Q&A: Jensen Investment on Bracing for Volatility,” by Coryanne Hicks, U.S. News & World Report, Jan. 13, 2021.

Stocks

“Jensen Quality Growth Fund: Stock Investing With a High Hurdle for Entry,” by Steve Schaefer, Forbes, July 23, 2013

“Jensen Fund Managers Asks One Really Important Question When Deciding to Invest,” by John Sullivan, ThinkAdvisor.com, June 24, 2012.

“How Microsoft, PepsiCo and Other Solid Plays Helped This Fund Manager Ride Out a Bumpy Decade,” Barbara Kollmeyer, MarketWatch, Jan. 29, 2020.

“Microsoft Results Point to New Growth Chapter,” by Daisuke Wakabayashi, Reuters, Oct. 29, 2007.

“Apple Services to Drive Next Leg of Growth, Says Schoenstein,” Bloomberg Technology, March 27, 2018.

“Why One Of 2016's Best Large-Cap Funds Finally Bought Apple Shares,” Steve Schaefer, Forbes, April 11, 2016.

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Terry Odean: Who's on the Other Side of the Trade? Mar 15, 2022

Show notes

Our guest on the podcast today is Terrance Odean. Dr. Odean is the Rudd Family Foundation Professor of Finance at the Haas School of Business at the University of California, Berkeley. Individual investor trading has been a key area of research throughout his academic career. In 2016, Dr. Odean received the James R. Vertin Award from the CFA Institute for research notable for its relevance and enduring value to investment professionals. He has been an editor and an associate editor of numerous academic finance journals, including The Review of Financial Studies, The Journal of Finance, and The Journal of Behavioral Finance. As an undergraduate student at UC Berkeley, Dr. Odean studied judgment and decision-making with a 2002 Nobel Laureate in Economics, Daniel Kahneman.

Background

Bio

The Review of Financial Studies

The Journal of Finance

The Journal of Behavioral Finance

Free Trading and Robinhood

“Online Investors: Do the Slow Die First?” by Brad Barber and Terrance Odean, faculty.haas.berkeley.edu, 2002.

“The Behavior of Individual Investors,” by Brad Barber and Terrance Odean, umass.edu, September 2011.

“Attention Induced Trading and Returns: Evidence From Robinhood Users,” by Brad Barber, Xing Huang, Terrance Odean, and Christopher Schwarz, paper.ssrn.com, Oct. 12, 2021.

“Trading Is Hazardous to Your Wealth: The Common Stock Investment Performance of Individual Investors,” by Brad Barber and Terrance Odean, faculty.haas.berkeley.edu, April 2000.

“All That Glitters: The Effect of Attention and News on the Buying Behavior of Individual and Institutional Investors,” by Brad Barber and Terrance Odean, academic.oup.com, April 2008.

“Robbin’ Who?” by William Ehart, humbledollar.com, May 11, 2021.

“Systematic Noise,” by Brad Barber, Terrance Odean, papers.ssrn.com, May 2006.

Gender Differences in Investing

“Boys Will Be Boys: Gender, Overconfidence, and Common Stock Investment,” by Brad Barber and Terrance Odean, papers.ssrn.com, November 1998.

“Seeing Is Believing: Female Leaders’ Presence Narrows the Gender Gap in Girls’ Aspirations and Advancement in Education,” by Lori Beaman, Esther Duflo, Rohini Pande, and Petia Topalova, gap.hks.harvard.edu, February 2012.

“What Accounts for the Gender Equality Among Pharmacists?” by Claudia Goldin, premarket.org, Oct. 7, 2021.

Behavioral Finance

Daniel Kahneman

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Andrew Miller: ‘No Index Is Truly Passive’ Mar 08, 2022

Show notes

Our guest this week is Andrew Miller. Andrew is a partner at Creative Planning where he advises clients on financial planning and investment issues. Prior to joining Creative Planning in 2020, Andrew was a partner at Miller Financial Management, where he focused on portfolio construction, financial and tax planning, as well as investment management. He's active on social media--you can find him on Twitter @millerak42--and has authored research on various financial-planning and investing topics that you can find online. Andrew is a CFA charterholder and also is a certified financial planner. He received his bachelor's degree in finance from Indiana University.

Background

Bio

General

“Alpha, Beta, and Now ... Gamma,” by David Blanchett and Paul Kaplan, Morningstar.com, Aug. 28, 2013.

Asset Allocation and Portfolio Construction

“Alternative Investments--A Field Manual,” by Andrew Miller, alphaarchitect.com, Oct. 3, 2019.

“Who’s Afraid of a Big Bad Bear? Many Investors Shouldn’t Be That Concerned,” by Andrew Miller, alphaarchitect.com, March 2, 2018.

Investing

What Is Home Country Bias?

“Investors Have Fewer Reasons Than Ever for Home Bias,” by Ben Johnson, Morningstar.com, June 7, 2019.

“The Illiquidity Discount?” by Cliff Asness, aqr.com, Dec. 19, 2019.

“Rebalance Your Portfolio? You Are a Market Timer and Here’s What to Consider,” by Andrew Miller, alphaarchitect.com, March 23, 2017.

“Large-Cap Price-to-Book Investing: What Is Dead May Never Die,” by Andrew Miller, alphaarchitect.com, June 25, 2019.

“Upside-Down Markets: Profits, Inflation and Equity Valuation in Fiscal Policy Regimes,” by Jesse Livermore, osam.com, September 2020.

What Is FRED?

Retirement

“Using Trend-Following Managed Futures to Increase Expected Withdrawal Rates,” by Andrew Miller,

Papers.ssrn.com, Oct. 7, 2017.

“Using Flexible Spending to Achieve Financial Goals,” by Andrew Miller, alphaarchitect.com, March 5, 2019.

“Should Retirees Still Follow the 4% Rule?” The Long View podcast, Morningstar.com, Dec. 23, 2021.

“The State of Retirement Income: Safe Withdrawal Rates,” by Christine Benz, Jeffrey Ptak, and John Rekenthaler, Morningstar.com, Nov. 11, 2021.

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Clark Howard: Financial Well-Being Starts With Being a Smart Consumer Mar 01, 2022

Show notes

Our guest on the podcast today is consumer advocate and personal finance expert Clark Howard. Clark has been hosting the nationally syndicated radio show and podcast The Clark Howard Show since 1989. He's also the author of 10 books, three of which have been New York Times best-sellers. He also sponsors the Consumer Action Center, which is a free resource for advice on money and consumer issues. He received his B.A. in urban government from American University, and his MBA from Central Michigan University.

Background

Bio

Clark.com

The Clark Howard Podcast

Books by Clark Howard

Home Ownership, Debt, and Investing

“Should I Pay Off Debt, Save Money or Invest?” by Christopher Smith, clark.com, Feb. 18, 2021.

“How to Pay Off Debt and Save Money on a Fixed Income,” by clark.com staff, clark.com, Nov. 25, 2020.

“Key Rules for First-Time Homebuyers and Investors in Real Estate,” by Clark Howard, clark.com, March 22, 2017.

“Clark Howard Has Advice if You’re Looking to Buy a Home Amid the Pandemic,” by Sarah Thompson, wokv.com, Sept. 29, 2020.

“86% of Renters Can’t Afford to Buy a Home: Here’s How You Can Prepare,” by Charis Brown, clark.com, April 17, 2017.

“Should I Buy a House in This Crazy Real Estate Market?” by Craig Johnson, clark.com, Feb. 21, 2022.

“Clark Howard’s Special Rule for Refinancing Your Mortgage,” by Nick Cole, clark.com, Aug. 28, 2020.

“How Old Is Too Old to Take Out a Mortgage?” by Craig Johnson, clark.com, Nov. 1, 2021.

“When Is It OK to Have a Mortgage in Retirement?” by Clark Howard, clark.com, March 22, 2017.

“Should I Pay Off My Mortgage Before I Retire?” by Wes Moss, clark.com, Feb. 20, 2019.

“What Is a Reverse Mortgage and Is It Right For Me?” by clark.com staff, clark.com, June 19, 2020.

Cars

“3 Things to Know Before You Lease a Car,” by John Cress, clark.com, July 20, 2020.

“New vs. Used Cars: Which Should You Buy?” by Dallas Cox, clark.com, Jan. 24, 2022.

“New Report: These 2022 Vehicles Are the Best for the Money,” by Craig Johnson, clark.com, Jan. 21, 2022.

“Are You Following Clark’s Maximum Auto Loan Length Rule?” by clark.com staff, clark.com, April 27, 2021.

Saving Money

“Free Budget Worksheet: The Clark Method to Create a Monthly Budget,” by clark.com staff, clark.com, Feb. 18, 2021.

“How to Save and Invest the Clark Howard Way,” by Christopher Smith, clark.com, Jan. 25, 2021.

“15 Financial New Year’s Resolutions for 2022,” by clark.com staff, clark.com, Dec. 17, 2021.

“8 Spending Habits People Are Changing After Coronavirus,” by Craig Johnson, clark.com, June 19, 2020.

Investing and Retirement

“How to Start Investing and Saving for Retirement,” by clark.com staff, clark.com, May 20, 2021.

“How Retirees Can Combat Inflation,” by Christopher Smith, clark.com, Dec. 1, 2021.

“What Is an Annuity, and Why Does Clark Think They Stink?” by Christopher Smith and Clark Howard, ajc.com, May 27, 2021.

“Why Clark Howard Is Obsessed With Roth for Retirement Savings,” by Christopher Smith, clark.com, Feb. 23, 2022.

Finding an Advisor

“How to Find and Choose a Financial Advisor,” by Christopher Smith, clark.com, March 25, 2021.

“How Much Does a Financial Advisor Cost?” by Christopher Smith, clark.com, Feb. 24, 2021.

Travel

“Follow Clark Howard’s #1 Rule to Travel Cheap,” by clark.com staff, clark.com, Jan. 28, 2022.

“How to Plan a Trip: Clark’s Best Travel Tips to Save Money,” by clark.com staff, clark.com, June 10, 2021.

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Lori Lucas: Despite Pandemic, Retirement Confidence Soars Feb 22, 2022

Show notes

Our guest on the podcast today is Lori Lucas, the president and CEO of the Employee Benefits Research Institute, or EBRI. EBRI aims to provide unbiased research and data on retirement, healthcare, and other employee benefits. Prior to joining EBRI, Lori was an executive vice president and practice leader at Callan. She has also served as director of Retirement Research at Hewitt associates, vice president at Ibbotson associates, pension fund consultant at J.H. Ellwood & Associates, and as an analyst and product development leader at Morningstar. Lori received a Bachelor of Arts from Indiana University and earned a master’s from the University of Illinois. Additionally, she is a Chartered Financial Analyst.

Background

Bio

Employee Benefits Research Institute

Retirement Confidence and Financial Wellness

EBRI’s Retirement Confidence Survey

“2021 Retirement Confidence Survey: A Closer Look at Black and Hispanic Americans,” by Craig Copeland and Lisa Greenwald, ebri.org, June 10, 2021.

EBRI 2021 Workplace Wellness Survey

“Why Do People Spend the Way They Do in Retirement? Findings From EBRI’s Spending in Retirement Survey,” by Lori Lucas, ebri.org, Jan. 14, 2021.

“These Retirees Are More Likely to Be ‘Comfortable’ or ‘Affluent,’ Study Finds,” by Kate Dore, cnbc.com, Aug. 4, 2021.

“Retirement Confidence Survey Highlights Overwhelming Participant Support for Auto Portability,” Retirement Clearinghouse, prnewswire.com, April 22, 2021.

“Racial Inequities and Retirement Income: Contributing Factors and Possible Solutions,” by Lori Lucas, lifeandretirement.aig.com, December 2021.

The Financial Alliance for Racial Equity “FARE” Coalition

“Brigitte Madrian: ‘Inertia Can Actually Be a Helpful Thing,’” The Long View podcast, Morningstar.com, April 22, 2020.

“Emergency-Fund-Focused-Employers: Goals, Motivations, and Challenges,” by Lori Lucas, ebri.org, Feb. 13, 2020.

“Talking About My Generation: Comparing the Financial Wellness of Baby Boomers, Gen Xers and Millennials,” by Lori Lucas, ebri.org, Jan. 13, 2022.

The Retirement System

“Senators Look at Ways to Make Retirement Saving Easier,” by Susan Rupe, insurancenews.net, May 13, 2021.

“The Rising Retirement Perils of 401(k) ‘Leakage’,” by Anne Tergesen, wjs.com, April 2, 2017.

“401(k) Plan Leakage and the Bipartisan Budget Act of 2018,” by Lori Lucas, lifehealth.com, Feb. 26, 2018.

“Participants Still Support Automatic Portability of 401(k)s: Survey,” by Alan Goforth, benefitspro.com, April 27, 2021.

“Andrew Biggs: Create a Thrift Savings Plan for the Masses,” The Long View podcast, Morningstar.com, May 25, 2021.

Illinois Secure Choice

OregonSaves

CalSavers

Healthcare

“What Leads to Greater Satisfaction With High-Deductible Health Plan Coverage?” ebri.org, Feb. 17, 2022.

2021 Consumer Engagement in Health Care Survey

“Projected Savings Medicare Beneficiaries Need for Health Expenses Spike in 2021,” by Paul Fronstin and Jack VanDerhei, ebri.org, Jan. 20, 2022.

“Why Patients Aren’t Cost-Conscious Consumers of Health Care,” by Lori Lucas, ebri.org, Sept. 9, 2021.

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Jill Schlesinger: 'What Are You Going to Do With Your Life?' Feb 15, 2022

Show notes

Our guest on the podcast today is Jill Schlesinger. Jill is a business analyst for CBS News and comments on the economy, investing, and personal finance for CBS television and radio programs. She also hosts the popular "Jill on Money" podcast and writes the nationally syndicated "Jill on Money" column for Tribune Media Services. Jill's first book, The Dumb Things Smart People Do With Their Money was published in 2019. She has received numerous awards over her career, including an Emmy Award for her work on CBS Sunday Morning. Jill is a certified financial planner and spent 14 years as the co-owner of and chief investment officer for an independent investment advisory firm. She began her career as a self-employed options trader on the Commodities Exchange of New York following her graduation from Brown University.

Background

Bio

Jill on Money

The Dumb Things Smart People Do With Their Money: Thirteen Ways to Right Your Financial Wrongs, by Jill Schlesinger

Current Market

“Coronavirus: Emergency Reserves,” Jill on Money podcast, jillonmoney.com.

“Jill on Money: ‘New Normal’ Raises Financial Questions,” by Jill Schlesinger, mercurynews.com, Aug. 24, 2020.

“CBS News Business Analyst Jill Schlesinger Discusses Inflation and the Housing Market,” by Grace Segers, cbsnews.com, June 4, 2021.

“How to Fight Inflation,” by Jill Schlesinger, jillonmoney.com.

“Fall Housing: From Boiling Over to Just Hot,” by Jill Schlesinger, jillonmoney.com.

“Inflation on Hot Housing,” Jill on Money podcast, jillonmoney.com, Jan. 13, 2022.

“Real Estate Conundrum: No Houses,” by Jill Schlesinger, jillonmoney.com.

Retirement

“How to Avoid the Retirement Freak-Out,” by Jill Schlesinger, nextave.org, Feb. 14, 2019.

“At 67, Is My 80/20 Portfolio Too Risky?” Jill on Money podcast, jillonmoney.com, Nov. 23, 2021.

“Jill on Money: Thinking About Joining the Great Resignation?” by Jill Schlesinger, mercurynews.com, Aug. 16, 2021.

“Should FINE Replace FIRE?” by Jill Schlesinger, jillonmoney.com.

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Jeremy Grantham: The U.S. Market Is in a Super Bubble Feb 08, 2022

Show notes

Our guest this week is Jeremy Grantham. Jeremy is the long-term investment strategist at his namesake firm, Grantham, Mayo, Van Otterloo & Co., or GMO, which he cofounded in 1977. He serves on GMO's Asset Allocation Committee and board of directors. Prior to GMO, Jeremy was cofounder of Batterymarch Financial Management and before that was an economist at Royal Dutch Shell. He earned his undergraduate degree from the University of Sheffield and his MBA from Harvard University. Jeremy is a member of the Academy of Arts and Sciences, holds a CBE from the U.K., and is a recipient of the Carnegie Medal of Philanthropy.

Background

Bio

“10 Things You Didn’t Know About Jeremy Grantham,” by Allen Lee, moneyinc.com.

Bubbles

Three-Sigma Limits Definition

“Let the Wild Rumpus Begin,” by Jeremy Grantham, gmo.com, Jan. 20, 2022.

“‘Super Bubble’: Jeremy Grantham Says Historic Crash Has Begun,” by Clayton Jarvis, financialpost.com, Jan. 25, 2022.

“Market ‘Superbubble’ Could Lead to 50% Plunge, Says Grantham,” by Lawrence Carrel, forbes.com, Jan. 26, 2022.

“GMO’s Grantham: 7 Signs We’re in a Stock Collapse (And What to Do Now),” by Janet Levaux, thinkadvisor.com, Jan. 24, 2022.

“Is the Plunge in the Nasdaq and Bitcoin the end of the ‘Superbubble’”? by John Cassidy, newyorker.com, Jan. 24, 2022.

“The U.S. Is in One of the Greatest Bubbles in Financial History,” by Merryn Somerset Webb, moneyweek.com, Sept. 3, 2021.

“Grantham Calls Meme Stocks ‘Biggest U.S. Fantasy Trip,’” Kriti Gupta and John Authers, Bloomberg.com, June 22, 2021.

“Profiting From a Bubble in Growth Stocks,” by Jeremy Grantham, Simon Harris, Ben Inker, and Catherine LeGraw, gmo.com, March 25, 2021.

“Nikkei Back Above 30,000 After More Than Three Decades,” by Hideyuki Sano, reuters.com, Feb. 14, 2021.

“Waiting for the Last Dance,” by Jeremy Grantham, gmo.com, Jan. 5, 2021.

“COVID-19, Climate Change, and the Need for a New Marshall Plan,” by Jeremy Grantham, gmo.com, Oct. 30, 2020.

Forecast

GMO 7-Year Asset Class Forecast: 4Q 2021

“Why Are Stock Market Prices So High?” by Jeremy Grantham, GMO Quarterly Letter, gmo.com, 2017.

“Loose Monetary Policy Is Today’s Biggest Market Risk,” by John Plender, ft.com, April 14, 2021.

“An Investment Only a Mother Could Love: The Tactical Case,” by Jeremy Grantham and Lucas White, gmo.com, April 30, 2020.

Innovation, Venture Capital, and Green Investing

“Grantham Stumbles on $200m Profit After Spac Swoop on Battery Maker,” by Robin Wigglesworth and Eric Platt, ft.com, Dec. 7, 2020.

Trillions: How a Band of Wall Street Renegades Invented the Index Fund and Changed Finance Forever, by Robin Wigglesworth.

“You Can’t Fool All the People All the Time,” by Jeremy Grantham, jpm.pm-research.com, Winter 1986.

“Green Investing May Be a Bubble, Jeremy Grantham Says, But He’s Doubling Down,” by Ben Steverman, fa-mag.com, Nov. 15, 2021.

“Where Jeremy Grantham Expects to Be ‘Kicking Ass,’” by Christine Idzelis, institutionalinvestor.com, Feb. 13, 2020.

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Andrew Lo: Finding the Perfect Portfolio--a 'Never-Ending Journey' Feb 01, 2022

Show notes

Our guest this week is Dr. Andrew Lo. Dr. Lo is the Charles E. & Susan T. Harris Professor, a professor of finance, and the director of the Laboratory for Financial Engineering at the MIT Sloan School of Management. His current research spans five areas, including evolutionary models of investor behavior and adaptive markets, systemic risk, and financial regulation, among others. Dr. Lo has published extensively in academic journals and authored a number of books including In Pursuit of the Perfect Portfolio, which he cowrote with Stephen Foerster. He has received numerous awards for his work and contributions to modern finance research throughout his career. He holds a bachelor's in economics from Yale University and an AM and Ph.D. in economics from Harvard University.

Background

Bio

In Pursuit of the Perfect Portfolio: The Stories, Voices, and Key Insights of the Pioneers Who Shaped the Way We Invest, by Andrew W. Lo and Stephen R. Foerster

Adaptive Markets: Financial Evolution at the Speed of Thought, by Andrew W. Lo

History

“Thirty Maidens of Geneva,” the Tontine Coffee-House, thetch.blog.com, Aug. 5, 2019.

“Why 18th Century Swiss Bankers Bet on the Lives of Young Girls,” by Stephen Foerster, sfoerster-5338.medium.com, Sept. 2, 2021.

John Maynard Keynes

Benjamin Graham

Harry Markowitz

Harry Markowitz

Modern Portfolio Theory