William Bernstein, author of The Intelligent Asset Allocator and The Four Pillars of Investing, also authored a quarterly set of articles which appeared on his website Efficient Frontier. While he has slowed the article writing to ‘periodic’ his previous articles are still available on his site. They are a wonderful resource and are entertaining to read. I highly recommend a visit. Here are ten of my best from the site.
- 1. Only Two Centuries of Data
2. The Cross-Section of Expected Stock Returns: A Tenth Anniversary Reflection
3. Of Mines, Forests and Impatience
4. Who Killed Value?
5. The Investment Entertainment Pricing Theory
6. The Small-Growth Indexing Anomaly
7. On Stuff (commodities)
8. The One Fund Holy Grail
9. The Retirement Calculator from Hell Part I, Part II, Part III, Part IV
10. Reflections on Money Management: Of Risk Premium Collection, Patience, and Spreading Your Bets
- "While I’m not going to reveal precisely how I’ve allocated assets in the past, it’s in the ballpark of the DFA Model Strategies—heavily weighted towards small cap, value, and foreign equities, keeping the bond portion of the portfolio relatively short. And, of course, as passive as possible.”