Practical analysis for investment professionals

William J. Bernstein

6 Posts

Biography

William J. Bernstein is a neurologist, co-founder of Efficient Frontier Advisors, an investment management firm, and has written several titles on finance and economic history. He has contributed to the peer-reviewed finance literature and has written for several national publications, including Money Magazine and The Wall Street Journal. He has produced several finance titles, and also three volumes of history, The Birth of Plenty, A Splendid Exchange, and Masters of the Word, about, respectively, the economic growth inflection of the early 19th century, the history of world trade, and the effects of access to technology on human relations and politics. He was also the 2017 winner of the James R. Vertin Award from CFA Institute.

Author's Posts
Investing Lessons from Bill Browder

Bill Browder’s message to security analysts is stark: The truly outstanding practitioner is a solitary creature who works in a depopulated landscape, where they just might stumble across real opportunity.

Book Review: Capital Returns

Although a collection of company analyses may not seem like compelling reading, this volume covers an important and underappreciated topic and boasts a superb introduction by one of the great financial writers of our era, Edward Chancellor. Both real-life and fictional examples help readers deepen their understanding of the capital cycle and teach managers and analysts capital cycle pitfalls to avoid.

Book Review: Why Minsky Matters

In this comprehensive overview of the work of the late economist Hyman Minsky, the author serves up a rich variety of concepts that will stimulate and inform anyone concerned about the fate of the economy. If you want to know where we are going, it helps to know where we have come from, and this book provides an essential road map for that journey — past, present, and future.

Book Review: King William’s Tontine

This deeply analytical look at a long-forgotten financial instrument informs our response to the looming retirement crisis in a way that no other book does. It should be read — with pleasure — by anyone with a personal or policy interest in this vital area.

Book Review: Asset Management

This highly engaging book will be warmly received by a wide audience. Anyone teaching entry-level finance should consider adopting it, and practitioners will be well rewarded by a close reading. It belongs on the front shelves of pension and endowment managers, who should read and reread the chapters on hedge funds, real estate, commodities, and private equity.

Book Review: Worldly Philosopher

This beautifully written biography of German-born economist Albert O. Hirschman is well worth reading for its insights into a man who experienced the political events that gave birth to today’s world, saw the flawed ideologies that got us to where we are now, and saw how to identify and avoid those ideologies that might lead us astray in the future.