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James R. Vertin Award

The James R. Vertin Award is presented periodically to recognize individuals who have produced a body of research notable for its relevance and enduring value to investment professionals.

James Vertin
James R. Vertin

This award was established in 1996 to honor James R. Vertin, CFA, for his outstanding leadership in promoting excellence and relevancy in research and education.

Vertin Award Winners

 

Maureen O'Hara

Maureen O’Hara

2020

Purcell Professor of Finance, Johnson Graduate School of Management, Cornell University

Maureen O’Hara is the Robert W. Purcell Professor of Finance at Cornell University’s Johnson Graduate School of Management. She is an expert on market microstructure and publishes widely on banking and financial intermediaries, law and finance, and experimental economics. Professor O’Hara is the author of numerous journal articles, as well as the books Market Microstructure Theory; High-Frequency Trading: New Realities for Traders, Markets, and Regulators; and Something for Nothing: Arbitrage and Ethics on Wall Street. She has served as president of the American Finance Association, the Western Finance Association, and the Financial Management Association and as executive editor of the Review of Financial Studies. Professor O’Hara was a member of the CFTC-SEC Emerging Regulatory Issues Task Force (the “flash crash” committee) and served on the Global Advisory Board of the Securities Exchange Board of India, the Advisory Board of the US Treasury’s Office of Financial Research, and the SEC’s Equity Market Structure Advisory Committee. She was named to Institutional Investor’s Trading Technology Top 40 and is a fellow of the Initiative for Cryptocurrencies and Contracts. Professor O’Hara is an adviser to Symbiont, a company focusing on blockchain and smart securities, and AVA Labs, a cryptocurrency and blockchain startup.

Jack Bogle Headshot

John C. Bogle

2019

John C. Bogle was founder and former chief executive of the Vanguard Group, Valley Forge, Pennsylvania, and president of its Bogle Financial Markets Research Center.

William N. Goetzmann

William N. Goetzmann

2018

William N. Goetzmann is the Edwin J. Beinecke Professor of Finance and Management Studies and director of the International Center for Finance at the Yale School of Management. He teaches portfolio management, alternative investments, real estate, and financial history and is an expert on a diverse range of investments. Professor Goetzmann’s past work includes studies of stock market predictability, hedge funds, and survival biases in performance measurement. His current research focuses on alternative investing, factor investing, behavioral finance, and the art market. Professor Goetzmann has written and co-authored a number of books, including Modern Portfolio Theory and Investment Analysis; The Origins of Value: The Financial Innovations That Created Modern Capital Markets; The Great Mirror of Folly: Finance, Culture, and the Crash of 1720; and most recently, Money Changes Everything: How Finance Made Civilization Possible.

William Bernstein

William J. Bernstein

2017

William J. Bernstein is co-principal at Efficient Frontier Advisors, Eastford, Connecticut.

Terrance Odean

Terrance Odean

2016

Terrance Odean is Rudd Family Foundation Professor of finance at the University of California, Berkeley, Haas School of Business.

Frank Fabozzi

Frank J. Fabozzi CFA

2015

Kenneth French

Kenneth R. French

2014

Kenneth R. French is Roth Family Distinguished Professor of Finance at the Tuck School of Business at Dartmouth College, Hanover, New Hampshire.

Richard Grinold

Richard C. Grinold

2013

Ronald Kahn

Ronald N. Kahn

2013

Ronald N. Kahn is a managing director and global head of systematic equity research at BlackRock, where he has overall responsibility for the research underpinning the Systematic Active Equity products. His service with the firm dates back to 1998, including his years with Barclays Global Investors, which merged with BlackRock in 2009. Prior to that, he worked as director of research at Barra. An expert on portfolio management, risk modeling, and quantitative investing, Dr. Kahn has published numerous articles on investment management, and he coauthored, with Richard Grinold, Active Portfolio Management: Quantitative Theory and Applications. The two of them won the 2013 James R. Vertin award, presented periodically by CFA Institute to recognize individuals who have produced a body of research notable for its relevance and enduring value to investment professionals. He has won the Bernstein Fabozzi/Jacobs Levy award for best article in the Journal of Portfolio Management. Dr. Kahn is on the editorial advisory boards of the Financial Analysts Journal, the Journal of Portfolio Management, and the Journal of Investment Consulting. He teaches “International Equity and Currency Markets” in the Master of Financial Engineering Program at the University of California, Berkeley. Dr. Kahn received an AB in Physics, summa cum laude, from Princeton University and a PhD in Physics from Harvard University. He was a postdoctoral fellow in physics at the University of California, Berkeley.

Elroy Dimson

Elroy Dimson FSIP, PhD

2012

Chairman, Centre for Endowment Asset Management, Cambridge Judge Business School, University of Cambridge

Elroy Dimson is chair of the Centre for Endowment Asset Management at Cambridge Judge Business School. His research focus is long-horizon investing and responsible investing, and his publications are on active ownership; investment management; endowment strategy; environmental, social, and governance investing; and financial market history. Professor Dimson’s books include Triumph of the Optimists, Global Investment Returns Yearbook 2020, Financial Market History, and Endowment Asset Management. His recent articles are on art investment, active ownership, real assets, financial history, endowment strategy, factor investing, fossil-fuel divestment, and asset management. Professor Dimson is chair of the advisory and policy boards of FTSE Russell and serves on the Supervisory Council of the Geneva Finance Research Institute, the Review Board of CFA Institute Research Foundation, and the Investment Committee of Gonville & Caius College, University of Cambridge. Previously, he served as chair of the Strategy Council of the Norwegian Government Pension Fund Global and as a professor and governor at London Business School. Professor Dimson is a fellow or honorary fellow of CFA UK, the Institute of Actuaries, the Royal Historical Society, the Risk Institute at Ohio State University, and Gonville & Caius College. He is emeritus professor of finance at London Business School, where he earned his PhD.

Roger Clarke

Roger G. Clarke PhD

2010

Roger G. Clarke is chairman of the board of Analytic Investors, Inc., an investment management firm, and serves as president of Ensign Peak Advisors, Inc. He is currently on the editorial board of the Journal of Portfolio Management and the Journal of Investment Management and previously served on the editorial board of the Financial Analysts Journal. Dr. Clarke has authored numerous articles and papers relating to quantitative investment management and is the recipient of three Graham and Dodd Scrolls from CFA Institute. He holds a BA degree in physics and an MBA degree from Brigham Young University, and an MS degree in economics and a PhD degree in finance from Stanford University.

Robert Shiller

Robert J. Shiller

2009

2013 Nobel Laureate in Economic Sciences, Sterling Professor of Economics, Yale University.

Keith Ambachtsheer

Keith P. Ambachtsheer

2008

Keith Ambachtsheer is director emeritus of the International Centre for Pension Management at the Rotman School of Management at the University of Toronto, founding editor of the Rotman International Journal of Pension Management, and founding academic director of the Rotman-ICPM Board Effectiveness Program for Pension and Other Long-Horizon Investment Institutions. He founded and continues to serve as president of KPA Advisory Services Ltd, which provides strategic advice on governance, finance, and investment matters to governments, industry associations, pension plan sponsors, foundations, and other institutional investors around the world. Mr. Ambachtsheer also co-founded CEM Benchmarking Inc., which monitors the organizational performance of pension plans around the world. He has authored four books on pension management, has received pension industry awards for his work in Europe, the United States, Canada, and the Pacific Rim, and has been named one of the 10 Most Influential Academics in Institutional Investing by aiCIO. Mr. Ambachtsheer currently serves as a member of two corporate boards and four advisory councils.

Campbell Harvey

Campbell R. Harvey

2007

Campbell R. Harvey is Professor of Finance at the Fuqua School of Business, Duke University, and a Research Associate of the National Bureau of Economic Research in Cambridge, Massachusetts. He is President of the American Finance Association.

Clifford Asness

Clifford S. Asness

2006

Clifford S. Asness is managing and founding principal at AQR Capital Management LLC. Previously, he was managing director and a director of quantitative research for the asset management division at Goldman Sachs. Dr. Asness serves on the editorial boards of the Journal of Portfolio Management and the Financial Analysts Journal and the governing board of the Courant Institute of Mathematical Finance at New York University. He has received the James R. Vertin Award from the Research Foundation of CFA Institute for producing a body of research notable for its relevance and enduring value to investment professionals in addition to other awards given for his written articles. Dr. Asness holds a BS from the Wharton School at the University of Pennsylvania, a BS from the Moore School of Electrical Engineering, and an MBA and a PhD from the University of Chicago.

Andrew Lo

Andrew W. Lo

2005

Charles E. and Susan T. Harris Professor of Finance​ and Director, Laboratory for Financial Engineering, Sloan School of Management, MIT

Andrew W. Lo is Charles E. and Susan T. Harris Professor of Finance at the MIT Sloan School of Management and the director of MIT’s Laboratory for Financial Engineering. He focuses his research on the fundamental aspects of investments and financial markets, including the measurement of illiquidity risk in hedge fund returns, the growth of systemic risk in the hedge fund industry, and most recently, evolutionary and neurobiological models of individual risk preferences and financial markets. Before joining MIT’s finance faculty, Mr. Lo taught at the University of Pennsylvania’s Wharton School. He has published numerous articles and books on finance and economics. Mr. Lo received his PhD in economics from Harvard University.

Edwin Elton

Edwin J. Elton

2004

Edwin J. Elton is professor emeritus and scholar in residence at the New York University Leonard N. Stern School of Business, New York.

Martin Gruber

Martin J. Gruber

2004

Martin J. Gruber is professor emeritus and scholar in residence at the New York University Leonard N. Stern School of Business, New York.

Barr Rosenberg

Barr Rosenberg

2003

William Fouse

William L. Fouse CFA

2002

Rex Sinquefield

Rex A. Sinquefield

2001

Roger Ibbotson

Roger G. Ibbotson PhD

2001

Roger G. Ibbotson is Professor in the Practice Emeritus of Finance at Yale School of Management and chairman of Zebra Capital Management, LLC, a global equity investment and hedge fund manager. He is founder and former chairman of Ibbotson Associates. Dr. Ibbotson conducts research on a broad range of financial topics, including popularity, liquidity, investment returns, mutual funds, international markets, portfolio management, and valuation. He has written numerous books and articles, including Stocks, Bonds, Bills, and Inflation (coauthored by Rex Sinquefield), which is updated annually and serves as a standard reference for information and capital market returns. Dr. Ibbotson’s other books include The Equity Risk Premium, Lifetime Financial Advice, and, most recently, Popularity: A Bridge between Classical and Behavioral Finance. He is a regular contributor to and an editorial board member of both trade and academic journals. Dr. Ibbotson serves on numerous boards and frequently speaks at universities, conferences, and other forums. He received his bachelor’s degree in mathematics from Purdue University, his MBA from Indiana University, and his PhD from the University of Chicago, where he also taught for more than 10 years and served as executive director of the Center for Research in Security Prices.

Peter Bernstein

Peter L. Bernstein

2000

Martin Leibowitz

Martin L. Leibowitz PhD

1998

Martin L. Leibowitz is a managing director on Morgan Stanley's Global Research Strategy team, responsible for producing studies on such topics as beta-based asset allocation, long/short equity strategies and the need for greater fluidity in policy portfolios. Prior to joining Morgan Stanley, Mr. Leibowitz was vice-chairman and chief investment officer of TIAA-CREF from 1995 to 2004, with responsibility for the management of more than $300 billion in equity, fixed income and real estate assets. Previously, he had a 26-year association with Salomon Brothers, where he became director of global research, covering both fixed income and equities. Mr. Leibowitz has written more than 150 articles on various financial and investment analysis topics and has been the most frequently published author in both the Financial Analysts Journal and the Journal of Portfolio Management. Ten of his articles have received the Graham and Dodd Award for excellence in financial writing. He also has written several books: his first, Inside the Yield Book, is considered an investment standard. The CFA Institute has presented him with three of its highest awards. Mr. Leibowitz received an AB and MS from the University of Chicago and a PhD in mathematics from the Courant Institute of New York University.

Jack Treynor

Jack L. Treynor

1997

William Sharpe

William F. Sharpe

1996