William F. Sharpe
William F. Sharpe | |
---|---|
Boston, Massachusetts, U.S. | |
Alma mater | University of California, Los Angeles (BA, MA, PhD) |
Known for | Capital asset pricing model Sharpe ratio |
Awards | Nobel Memorial Prize in Economic Sciences (1990) |
Scientific career | |
Fields | Economics |
Institutions | William F. Sharpe Associates Stanford University University of California, Irvine University of Washington 1961–68 RAND Corporation |
Doctoral advisor | Armen Alchian Harry Markowitz (unofficial) |
Doctoral students | Howard Sosin |
William Forsyth Sharpe (born June 16, 1934) is an American economist. He is the STANCO 25 Professor of Finance, Emeritus at Stanford University's Graduate School of Business, and the winner of the 1990 Nobel Memorial Prize in Economic Sciences.
Sharpe was one of the originators of the
Early years
William Sharpe
Academic training
After graduation, in 1956 Sharpe joined the
Professional career
In 1961 after finishing his graduate studies, Sharpe started teaching at the
In 1968 Sharpe moved to the
Later career
In 1989 he retired from teaching, retaining the position of
Today, Financial Engines has over 200 employees and is the leader in automated retirement plan investment advice and management, with more than $200 Billion in managed retirement accounts, providing advice and managed account services to employees in over 1000 major corporations. In March 2018, Financial Engines was acquired for $3 Billion in cash.[9]
Sharpe served as a President of the American Finance Association and he is a trustee of the Economists for Peace and Security. He is also the recipient of a Doctor of Humane Letters, Honoris Causa from DePaul University, a Doctor Honoris Causa from the University of Alicante (Spain), a Doctor Honoris Causa from the University of Vienna and the UCLA Medal, UCLA's highest honor.
Since 2009, Sharpe has been an advocate of "adaptive asset allocation" strategies, which seek to exploit recent market behaviour to optimise asset allocation and thus maximise returns and reduce volatility[10][11]
Selected publications
Papers
- Sharpe, William F. (1963). "A Simplified Model for Portfolio Analysis". Management Science. 9 (2): 277–93. S2CID 55778045.
- Sharpe, William F. (1964). "Capital Asset Prices – A Theory of Market Equilibrium Under Conditions of Risk". Journal of Finance. XIX (3): 425–442. JSTOR 2977928.
Books
- Portfolio Theory and Capital Markets (McGraw-Hill, 1970 and 2000). ISBN 0-07-135320-8
- Asset Allocation Tools (Scientific Press, 1987)
- Fundamentals of Investments (with Gordon J. Alexander and Jeffrey Bailey, Prentice-Hall, 2000). ISBN 0-13-292617-2
- Investments (with Gordon J. Alexander and Jeffrey Bailey, Prentice-Hall, 1999). ISBN 0-13-010130-3
- Sharpe, William F. (2012). William F Sharpe: Selected Works. World Scientific-Nobel Laureate Series: Vol. 2. World Scientific. p. 712. ISBN 978-981-4329-95-8.
See also
References
- ^ a b c William F. Sharpe on Nobelprize.org , accessed 29 April 2020
- ^ Durian, Hal (July 9, 2011). "Poly Highs Class of 1951 Left its Mark". The Press-Enterprise. Retrieved February 9, 2013.
- ^ http://www.thetaxibruins.com/alumni/index.php?per_page=100&page=5[permanent dead link]
- ^ "The Seven Nobel Laureates of UCLA". newsletter.alumni.ucla.edu.
- ^ Sharpe (1964) in Selected publications
- .
- ^ Sharpe, William F. (December 1988). "Determining a Fund's Effective Asset Mix". Investment Management Review: 59–69.
- ^ [1] Concept2Company Ventures
- ^ [2] Financial Engines, robo-advice pioneer, to be sold for $3 billion
- ^ "FTSE AAAP Calculator". www.ftse.com.
- ^ "Sharpe, William F. "Adaptive asset allocation policies." Financial Analysts Journal 66.3 (2010): 45-59" (PDF).
External links
- Personal web site of Dr. Sharpe
- IDEAS/RePEc
- "William F. Sharpe (1934– )". Library of Economics and Liberty (2nd ed.). Liberty Fund. 2008.
- William F. Sharpe publications indexed by Google Scholar
- "William F. Sharpe". JSTOR.
- William F. Sharpe on Nobelprize.org including the Prize Lecture December 7, 1990 Capital Asset Prices with and without Negative Holding