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Professor William N. Goetzmann appointed as Executive Editor of the CFA Institute Financial Analysts Journal

Charlottesville, United States 11 Jan 2021

CFA Institute, the global association of investment professionals, announces the appointment of Professor William N. Goetzmann, as Executive Editor of the CFA Institute Financial Analysts Journal (the Journal), effective 1 January 2021. Professor Goetzmann succeeds the incumbent executive editor, Stephen J. Brown, who is currently transitioning to emeritus status as Professor of Finance at NYU Stern School of Business.

Professor Goetzmann will provide leadership and editorial direction to the Journal, the flagship publication of CFA Institute which seeks to advance the practice of investment management. Professor Goetzmann’s recent article, The Financial Analysts Journal and Investment Management, reviews the key contributions which the Journal has made during the course of its 75-year history, and demonstrates how professional practice has evolved through give-and-take discussion of innovation versus established practice.

Professor Goetzmann commented: “The Journal has long been the link between leading financial research and professional investment.  It is the venue by which money managers have learned about and debated new topics such as mean-variance optimization, the Capital Asset Pricing Model, factor investing, the South Africa Boycott and the endowment model.  The Journal has also been an outlet for papers on ethical investment management and it reaches an expanding readership of members who are at the forefront of setting professional and fiduciary standards globally.  I look forward to continuing Stephen Brown’s endeavors in recognition of the fact that finance, particularly asset management, is an important domain of research and practice for the ultimate benefit of society.”

Dr. Heidi Raubenheimer, CFA, Managing Editor of the Journal, commented: “Professor Goetzmann was selected for his seminal contribution to the investment profession; his expertise encompasses the philosophical roots of investment management, financial markets history, and his current research on alternative investing and behavioural finance. At a time when profound changes are taking place in the world at-large, the essential dynamism of the industry has come into sharp focus once again. We look forward to Professor Goetzmann’s broad knowledge being brought to bear for practitioners and the future of our profession.”

Professor Goetzmann is the Edwin J. Beinecke Professor of Finance and Management Studies and Faculty Director of the International Center for Finance at the Yale School of Management. He teaches portfolio management, alternative investments, real estate and financial history at the Yale School of Management. His work also includes studies of stock market predictability, hedge funds, and survival biases in performance measurement.

Professor Goetzmann is a distinguished writer, having written and co-authored a number of books, including his most recent release, Money Changes Everything: How Finance Made Civilization Possible (2016). The book was featured as one of Bloomberg’s Best Books of 2016 and one of Financial Times Best Economics Books of 2016. Other books include: The Great Mirror of Folly: Finance, Culture and the Crash of 1720 (Yale, 2013); Modern Portfolio Theory and Investment Analysis (Wiley, 2014); and The Origins of Value: The Financial Innovations that Created Modern Capital Markets (Oxford, 2005).

Professor Goetzmann was also the recipient of the 2018 James R. Vertin Award, which is presented by the CFA Institute Research Foundation to recognize individuals who have produced a body of research notable for its relevance and enduring value to investment professionals. Additional information on the Vertin Award can be found on the Research Foundation website and more information about Professor Goetzmann can be found on his website.


For further information please contact [email protected] 

Notes to Editors


About CFA Institute Financial Analysts Journal

The CFA Institute Financial Analysts Journal is the flagship publication of CFA Institute. It is published quarterly with a mission to advance the knowledge and understanding of the practice of investment management through the publication of rigorous, peer-reviewed, practitioner-relevant research.

The Financial Analysts Journal Podcast is available via Apple Podcasts and Spotify and includes:

  • Editor's Snapshot with Managing Editor Heidi Raubenheimer: a short overview of each issue of the Journal;
  • Audio summaries of all research articles published since 2019.

All Journal articles can be found here.


About CFA Institute

CFA Institute is the global association of investment professionals that sets the standard for professional excellence and credentials. The organization is a champion of ethical behavior in investment markets and a respected source of knowledge in the global financial community. Our aim is to create an environment where investors’ interests come first, markets function at their best, and economies grow. There are more than 160,000 CFA charterholders worldwide in 164 markets. CFA Institute has nine offices worldwide and there are 159 local member societies. For more information, visit www.cfainstitute.org or follow on Twitter at @CFAInstitute and on Facebook.com/CFAInstitute.

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