MIB: William J. Bernstein, Efficient Frontier

This week, we speak with William J. Bernstein, who began his career as a neurologist before becoming a financial theorist and investment advisor. His firm, Efficient Frontier Advisors, manages assets for Ultra High Net Worth (UHNW) Investors. (They are closed to new investors).

He is the author of a dozen books, including The Intelligent Asset Allocator, The Four Pillars of Investing, and The Investor’s Manifesto.  As well as several historical works, including A Splendid Exchange, The Birth of Plenty, and Masters of the Word. Bernstein was the 2017 winner of the James R. Vertin Award from CFA Institute.

Bernstein has earned acclaim for his recognition of the elements that drives markets and investments in his various writings, as well his deeply researched financial history books. He explains how he was working as a neurologist and pivoted to finance after he published his first two books, and the public began offering him money to manage.

His current project is a deep research into the Madness of Crowds and human behavioral finance.

His favorite books are here; a transcript of our conversation is available here.

You can stream/download the full conversation, including the podcast extras on  iTunesBloombergOvercast, and Stitcher. Our earlier podcasts can all be found at iTunesStitcherOvercast, and Bloomberg.

Next week, we speak with Luis Maizel, Co-founder and senior managing director at LM Capital Group, which manages 4.2 billion dollars.