Overview
Richard Michaud, whose research and contributions to the fields of applied finance and investment management were recently profiled in WatersTechnology, is the Chief Executive Officer at New Frontier. He is co-author of Efficient Asset Management: A Practical Guide to Stock Portfolio Optimization and Asset Allocation (Harvard 1998, 2nd ed. Oxford 2008), and co-holder of four U.S. patents in portfolio optimization and investment management. Richard will share insights and best practices gained from developing and managing New Frontier’s strategies.
For more than thirty years, asset allocation policy has been based on a mistake! Asset allocation, while important, is not the single most important decision an investor can make. Performance does not depend solely on the stock/bond ratio. So, why has this myth persisted for thirty years?
In this presentation, we trace the origin of this error and investigate whether efficient markets are an excuse for flawed policy and sub-optimal performance, all while exploring the essential components of asset allocation in investing, and the limitations of commonly accepted strategic investing applications.
Questions raised in the presentation include:
Please contact Nick Lam with any questions.
Instructor
Richard Michaud
Chief Executive Officer, New Frontier
Dr. Richard Michaud is the President and Chief Executive Officer at New Frontier. He earned a Ph.D. in Mathematics from Boston University and has taught investment management at Columbia University. He is the author of Efficient Asset Management: A Practical Guide to Stock Portfolio Optimization and Asset Allocation (1998, 2nd ed. 2008 with Robert Michaud), a CFA Research Monograph (1999) on Global Asset Management, and numerous academic and research articles available on www.ssrn.com and www.researchgate.net. He is co-holder of four U.S. patents in portfolio optimization and asset management, a Graham and Dodd Scroll winner for his work on optimization, a former editorial board member of the Financial Analysts Journal, associate editor of the Journal Of Investment Management, and former director of the “Q” Group.