Peter L. Bernstein
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Peter L. Bernstein is an American author, economist, and educator.
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[edit] Early life
Bernstein graduated from Harvard College with a degree in Economics, Magna Cum Laude. He was also elected to Phi Beta Kappa.
After serving as a member of the research staff at the Federal Reserve Bank of New York and in a civilian capacity at the Office of Strategic Services in Washington, he joined the United States armed services and rose to the rank of captain in the Air Force in World War II, assigned to the Office of Strategic Services in the European theater.
[edit] Career as educator
Bernstein taught economics for many years as an adjunct professor on the Graduate Faculty of the New School for Social Research in New York City.
[edit] As investment manager
In 1951, after teaching economics at Williams College and a five-year stint in commercial banking, Peter became Chief Executive of a nationally–known investment counsel firm, where he personally managed billions of dollars of individual and institutional portfolios. The assets under management at the firm had grown more than tenfold by the time he resigned in 1973 to launch Peter L. Bernstein, Inc.
Peter was the first Editor of The Journal of Portfolio Management in 1974, a widely-read scholarly journal for investment managers and academics in the field of finance and investments. He is now Consulting Editor of the Journal.
[edit] Community and institutional service
He served for many years on the Visiting Committee to the Economics Department at Harvard University, as a Trustee and member of the Finance Committee of the College Retirement Equities Fund (CREF), and as a Trustee of the Investment Management Workshop sponsored by the Association for Investment Management & Research’(AIMR).
He lectures widely throughout the United States and abroad on risk management, asset allocation, portfolio strategy, and market history.
[edit] Author
Bernstein is the author of nine books in economics and finance and countless articles in professional journals such as The Harvard Business Review and the Financial Analysts Journal, and in the popular press, including The New York Times, The Wall Street Journal, Worth magazine, and Bloomberg publications. He has contributed to collections of articles published by Perseus and FT Mastering, among others.
Against The Gods: The Remarkable Story of Risk, was published by John Wiley & Sons in September 1996. This book won the Edwin G. Booz Prize for the most insightful, innovative management book published in 1996. In 1998, it was awarded the Clarence Arthur Kelp / Elizur Wright Memorial Award from The American Risk and Insurance Association (ARIA) as an outstanding original contribution to the literature of risk and insurance. The book has sold over 500,000 copies worldwide.
In 1992 Capital Ideas: The Improbable Origins of Modern Wall Street was published by The Free Press and since become a worldwide guide to modern investment theories and practices.
Streetwise: The Best of The Journal of Portfolio Management, edited by Peter L. Bernstein and Frank J. Fabozzi, was published in 1997 by Princeton University Press:
Earlier books include A Primer on Money, Banking and Gold (Random House 1968), as well as Economist on Wall Street (Macmillan 1973), and The Price of Prosperity (Doubleday, 1962), in addition to two books on government finance co-authored with Robert Heilbroner.
Bernstein’s other books are The Power of Gold: The History of an Obsession, published in the fall of 2000 by John Wiley and Sons, and Wedding of the Waters: The Erie Canal and the Making of a Great Nation, published in 2005 by W.W. Norton & Co.
[edit] Awards
Peter has received three major awards from the Association for Investment Management & Research (AIMR), the key organization for investment managers and analysts:
The Award for Professional Excellence, AIMR's highest award,
The Graham & Dodd Award, given annually for the outstanding article in the Financial Analysts Journal for the previous year, and
The James R. Vertin Award, recognizing individuals who have produced a body of research notable for its relevance and enduring value to investment professionals.
[edit] References
Peter L Bernstein's Homepage (http://www.peterlbernsteininc.com). Retrieved Jan. 25, 2005