Martin L. Liebowitz
Encyclopedia
Martin L. Leibowitz is a well-known financial researcher and business leader. Since 2004 he has been a Managing Director of Morgan Stanley
. Prior to joining Morgan Stanley, he was vice chairman and chief investment officer of TIAA-CREF
from 1995 to 2004, and before that he was employed for 26 years by Salomon Brothers
, rising to become its Managing Director in charge of research. He is a member of the Board of Trustees of the Institute for Advanced Study
.
Leibowitz is the author of numerous books and articles on financial topics. According to CFA Institute
, "Leibowitz has authored more than 150 articles, 10 of which have received the Financial Analysts Journal's Graham and Dodd Award of Excellence". His most well-known work (co-authored with Sidney Homer) is Inside the Yield Book, first published in 1972 and reissued in 2004, a work which, according to Frank Fabozzi, "transformed the markets’ understanding of bonds".
He was instrumental in developing the dedicated portfolio theory
in the 1980s.
Leibowitz is also the recipient of several awards from CFA Institute, including the Nicholas Molodovsky Award in 1995, the James R. Vertin Award in 1998, and the Award for Professional Excellence in 2005. The last of these, given to "a member of the investment profession whose exemplary achievement, excellence of practice and true leadership have inspired and reflected honor upon the profession to the highest degree", has also been received by Warren Buffett
, Peter L. Bernstein
, John Bogle
, and David F. Swensen. In 1995, he was the first person inducted into the Fixed Income Analysts Society Hall of Fame.
On April 1 2009, he was named adviser to the Board of Directors to Singapore's sovereign fund
.
Leibowitz holds a Bachelors degree from the University of Chicago
and a PhD from the Courant Institute of New York University
.
Morgan Stanley
Morgan Stanley is a global financial services firm headquartered in New York City serving a diversified group of corporations, governments, financial institutions, and individuals. Morgan Stanley also operates in 36 countries around the world, with over 600 offices and a workforce of over 60,000....
. Prior to joining Morgan Stanley, he was vice chairman and chief investment officer of TIAA-CREF
TIAA-CREF
Teachers Insurance and Annuity Association – College Retirement Equities Fund is a Fortune 100 financial services organization that is the leading retirement provider for people who work in the academic, research, medical and cultural fields...
from 1995 to 2004, and before that he was employed for 26 years by Salomon Brothers
Salomon Brothers
Salomon Brothers was a bulge bracket, Wall Street investment bank. Founded in 1910 by three brothers along with a clerk named Ben Levy, it remained a partnership until the early 1980s, when it was acquired by the commodity trading firm Phibro Corporation and then became Salomon Inc. Eventually...
, rising to become its Managing Director in charge of research. He is a member of the Board of Trustees of the Institute for Advanced Study
Institute for Advanced Study
The Institute for Advanced Study, located in Princeton, New Jersey, United States, is an independent postgraduate center for theoretical research and intellectual inquiry. It was founded in 1930 by Abraham Flexner...
.
Leibowitz is the author of numerous books and articles on financial topics. According to CFA Institute
CFA Institute
CFA Institute is headquartered in the United States of America at Charlottesville, Virginia, with offices in Hong Kong and London. Formerly known as the Association for Investment Management and Research , CFA Institute awards the Chartered Financial Analyst designation...
, "Leibowitz has authored more than 150 articles, 10 of which have received the Financial Analysts Journal's Graham and Dodd Award of Excellence". His most well-known work (co-authored with Sidney Homer) is Inside the Yield Book, first published in 1972 and reissued in 2004, a work which, according to Frank Fabozzi, "transformed the markets’ understanding of bonds".
He was instrumental in developing the dedicated portfolio theory
Dedicated Portfolio Theory
Dedicated Portfolio Theory, in finance, deals with the characteristics and features of a portfolio built to generate a predictable stream of future cash inflows...
in the 1980s.
Leibowitz is also the recipient of several awards from CFA Institute, including the Nicholas Molodovsky Award in 1995, the James R. Vertin Award in 1998, and the Award for Professional Excellence in 2005. The last of these, given to "a member of the investment profession whose exemplary achievement, excellence of practice and true leadership have inspired and reflected honor upon the profession to the highest degree", has also been received by Warren Buffett
Warren Buffett
Warren Edward Buffett is an American business magnate, investor, and philanthropist. He is widely regarded as one of the most successful investors in the world. Often introduced as "legendary investor, Warren Buffett", he is the primary shareholder, chairman and CEO of Berkshire Hathaway. He is...
, Peter L. Bernstein
Peter L. Bernstein
Peter Lewyn Bernstein was an American financial historian, economist and educator whose development and refinement of the efficient-market hypothesis made him one of the country's best known authorities in popularizing and presenting investment economics to the general public.-Education and...
, John Bogle
John Bogle
John Clifton "Jack" Bogle is the founder and retired CEO of The Vanguard Group. He is known for his 1999 book Common Sense on Mutual Funds: New Imperatives for the Intelligent Investor, which became a bestseller and is considered a classic.-Early life and education:Bogle was born in in Verona, New...
, and David F. Swensen. In 1995, he was the first person inducted into the Fixed Income Analysts Society Hall of Fame.
On April 1 2009, he was named adviser to the Board of Directors to Singapore's sovereign fund
Government of Singapore Investment Corporation
The Government of Singapore Investment Corporation Private Limited is a sovereign wealth fund established by the Government of Singapore in 1981 to manage Singapore's foreign reserves...
.
Leibowitz holds a Bachelors degree from the University of Chicago
University of Chicago
The University of Chicago is a private research university in Chicago, Illinois, USA. It was founded by the American Baptist Education Society with a donation from oil magnate and philanthropist John D. Rockefeller and incorporated in 1890...
and a PhD from the Courant Institute of New York University
New York University
New York University is a private, nonsectarian research university based in New York City. NYU's main campus is situated in the Greenwich Village section of Manhattan...
.