Martin L. Leibowitz is a financial researcher, business leader, and a managing director of

Morgan Stanley Morgan Stanley is an American multinational investment bank and financial services company headquartered at 1585 Broadway in Midtown Manhattan, New York City. With offices in 42 countries and more than 80,000 employees, the firm's clients in ...

. His most well-known work is ''Inside the Yield Book''.

Career

Before joining Morgan Stanley, Leibowitz was vice chairman and chief investment officer of

TIAA-CREF The Teachers Insurance and Annuity Association of America-College Retirement Equities Fund (TIAA, formerly TIAA-CREF) is an American financial services organization that is a private provider of financial retirement services in the academic, resea ...

from 1995 to 2004. Previously he had worked for 26 years for

Salomon Brothers Salomon Brothers, Inc., was an American multinational bulge bracket investment bank headquartered in New York City. It was one of the five List of investment banks, largest investment banking enterprises in the United States and a very profitabl ...

, rising to become its managing director in charge of research. He is also a member of the Board of Trustees of the

Institute for Advanced Study The Institute for Advanced Study (IAS) is an independent center for theoretical research and intellectual inquiry located in Princeton, New Jersey. It has served as the academic home of internationally preeminent scholars, including Albert Ein ...

. In April 2009 he was named adviser to the board of directors to Singapore's sovereign fund. In March 2012, he was appointed to The Rockefeller Foundation's board of trustees. Leibowitz has authored several books and more than 150 articles, 10 of which have received the Financial Analysts Journal's Graham and Dodd Award of Excellence. His '' Inside the Yield Book'' (co-authored with Sidney Homer), first published in 1972 and reissued in 2004, is a work which, according to

Frank Fabozzi Frank J. Fabozzi is an American economist, educator, writer, and investor, currently Professor of Practice at The Johns Hopkins University Carey Business School and a Member of Edhec Risk Institute. He was previously a professor of finance at E ...

, "transformed the markets’ understanding of bonds." He was instrumental in developing the dedicated portfolio theory in the 1980s. Leibowitz is also the recipient of the following

CFA Institute The CFA Institute is a global, not-for-profit professional organization that provides investment professionals with finance education. The institute aims to promote standards in ethics, education, and professional excellence in the global investme ...

Awards: the Nicholas Molodovsky Award in 1995, the James R. Vertin Award in 1998, and the Award for Professional Excellence in 2005. In 1995, he was the first person inducted into the Fixed Income Analysts Society Hall of Fame. Leibowitz holds both a bachelor's and master's degree from the

University of Chicago The University of Chicago (UChicago, Chicago, or UChi) is a Private university, private research university in Chicago, Illinois, United States. Its main campus is in the Hyde Park, Chicago, Hyde Park neighborhood on Chicago's South Side, Chic ...

and a Ph.D. in mathematics from the Courant Institute of

New York University New York University (NYU) is a private university, private research university in New York City, New York, United States. Chartered in 1831 by the New York State Legislature, NYU was founded in 1832 by Albert Gallatin as a Nondenominational ...

Bibliography

*''Inside the Yield Book'', (with Sidney Homer), 1972 *''Return Targets and Shortfall Risks: Studies in Strategic Asset Allocation'', (with Stanley Kogelman and Lawrence N. Bader), 1995 *''Franchise Value: A Modern Approach to Security Analysis'', 2004 *''Modern Portfolio Management: Active Long/Short 130/30 Equity Strategies'', (with Simon Emrich and Anthony Bova), 2008 *''The Endowment Model of Investing: Return, Risk, and Diversification'', (with Anthony Bova and P. Brett Hammond), 2010

References

{{DEFAULTSORT:Leibowitz, Martin L. Living people Financial economists University of Chicago alumni Trustees of the Institute for Advanced Study Directors of Harvard Management Company Courant Institute of Mathematical Sciences alumni Year of birth missing (living people)