Acknowledgments
This book has been in the making since I started teaching asset allocation in the CIMA program at Wharton more than 20 years ago. More than 6,000 advisors have been through the program including many of the top institutional and high net worth consultants at the leading brokerage firms. I have had the privilege of teaching most of them, along with my colleagues in the program, Jeffrey Jaffe and Craig MacKinlay.
I want to thank the many financial advisors that I have met through the years, both in the CIMA program and in other programs at Wharton and throughout the country. Their insights have helped me to shape many of the ideas in this book about investing. A thoughtful advisor can make so much difference to the financial well-being of a family or institution. I like to think that the CIMA program has contributed to the increasing professionalism of the investment advisory business in this country.
I would like to thank two of my colleagues, Richard Herring of Wharton and Gordon Bodnar of SAIS at Johns Hopkins, for providing me with helpful comments on this book as well as on the teaching materials I use in the CIMA program. Other colleagues have been particularly helpful with specific topics in the book, including Joseph Gyourko on the topic of real estate, Andrew Metrick and Ayako Yasuda on venture capital, and Christopher Geczy on hedge funds.
One of the great pleasures of teaching at the Wharton School is to work with talented research assistants. Wharton ...
