Biography
Jeffery V. Bailey, CFA, is a senior finance lecturer at the University of Minnesota. Previously, he was senior director, benefits, at Target Corporation, where he supervised the company’s employee benefit plans and directed the investment of the defined benefit (DB) and defined contribution (DC) plans. Prior to that, Bailey was a managing partner of Richards & Tierney, a Chicago-based pension consulting firm specializing in quantitative risk control techniques. He also served as assistant executive director of the Minnesota State Board of Investment, which manages the pension assets of Minnesota public employees. Bailey has published numerous articles about pension management. He co-authored the textbooks Investments and Fundamentals of Investments with William F. Sharpe and Gordon J. Alexander and co-authored the CFA Institute Research Foundation publications A Primer for Investment Trustees and Controlling Misfit Risk in Multiple-Manager Investment Programs. He is a director of the University of Minnesota Foundation Investment Advisors. Bailey received a BA in economics from Oakland University and an MA in economics and an MBA in finance from the University of Minnesota.
If active managers cannot add value, then passive is the preferred position, not the other way around.