"About twelve or so years ago, I became interested in the problem of portfolio rebalancing. I gradually figured out that the excess return earned from the process was a function of asset class volatility, correlation, and return—precisely the same inputs which determine portfolio efficiency. In other words, an understanding of rebalancing leads to an understanding of portfolio theory, which in turn leads to more efficient investing.
I started my website, efficientfrontier.com, and by and by published my first book, The Intelligent Asset Allocator, and co-founded, along with Susan Sharin, a money management firm, Efficient Frontier Advisors. Eventually, I published another book, The Four Pillars of Investing, and branched out from there to economic and historical nonfiction with two more titles: The Birth of Plenty and a forthcoming narrative of the story of global trade,A Splendid Exchange.
I still enjoy teaching neurology, and I plan to continue professionally managing money and writing yet more books.I owe Jack Bogle at least as much as do the rest of us: without his encouragement, I probably wouldn’t have persevered in financial writing; without his insights into finance, I would not have found the right path; and without Vanguard, I would be a lot poorer!"
- The Intelligent Asset Allocator
- The Investor's Manifesto: Preparing for Prosperity, Armageddon, and Everything in Between ISBN 978-0-470-50514-4
Authors@Google: William Bernstein
William Bernstein talks about his book, The Birth of Plenty. William Bernstein's The Birth of Plenty is based upon the premise that mankind experienced virtually zero economic growth from the dawn of time until 1820. This provocative book identifies the four conditions necessary for sustained economic progress--property rights, scientific rationalism, capital markets, and communications and transportation technology--and then analyzes their gradual appearance and impact throughout every corner of the globe. The Birth of Plenty explores where the world economy could be headed next; implications of the book's thesis for today's society; and how the absence of one or more of the conditions continues to threaten beleaguered regions of the world.
This event took place September 20, 2007 at Google Headquarters in Mountain View, CA.
The Investor's Manifesto, William J. Bernstein
The Investor's Manifesto author shares his thoughts about the current financial market and offers some additional thoughts regarding his book. The video date is December 10, 2009.