Martin Leibowitz
Morgan Stanley

Martin L. Leibowitz is a managing director with Morgan Stanley Research Department’s global strategy team.  Over the past eight years, he and his associates have produced a series of studies on such topics as asset allocation, policy portfolios, rebalancing strategies, asset/liability management, and duration targeting in bond 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 over $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, and was a member of that firm’s Executive Committee.

Mr. Leibowitz received both A.B. and M.S. degrees from The University of Chicago and a Ph.D. in mathematics from the Courant Institute of New York University.

He has written over 200 articles on various financial and investment analysis topics, and has been the most frequent author published in both the Financial Analysts Journal (FAJ) and the Journal of Portfolio Management (JPM).  Ten of his FAJ articles have received the Graham and Dodd Award for excellence in financial writing.  In February 2008 an article written by Mr. Leibowitz and his associate Anthony Bova was voted Best Article in the 9th Annual Bernstein Fabozzi/Jacobs Levy Awards by the readers of JPM.

In 1992, Investing, a volume of his collected writings, was published with a foreword by William F. Sharpe, the 1990 Nobel Laureate in Economics.  In 1996, his book Return Targets and Shortfall Risks was issued by Irwin Co.  In 2004, two of his books were published: a compilation of studies on equity valuation, titled Franchise Value (John Wiley & Co.), and a revised edition of his study on bond investment, Inside the Yield Book (Bloomberg Press).  The first edition of Inside the Yield Book was published in 1972, went through 21 reprintings, and remains a standard in the field.  The second edition includes a foreword by noted economist Henry Kaufman.  In 2008, Mr. Leibowitz co-authored a book which focused on active equity strategies, Modern Portfolio Management (John Wiley & Co.).  Another volume, The Endowment Model of Investing, co-authored with Anthony Bova and Brett Hammond of TIAA-CREF, was published in 2010, also by John Wiley & Co.  Peking University Press has published a Mandarin edition of The Endowment Model, released in March, 2012.

Mr. Leibowitz has received three of the CFA Institute’s highest awards: the Nicholas Molodowsky Award in 1995, the James R. Vertin Award in 1998, and the Award for Professional Excellence in 2005.  In October 1995, he received the Distinguished Public Service Award from the Public Securities Association, and in November 1995 he became the first inductee into The Fixed Income Analyst Society’s Hall of Fame.  He has received special Alumni Achievement Awards from The University of Chicago and New York University, and in 2003 was elected a Fellow of the American Academy of Arts and Sciences.

Mr. Leibowitz serves on the investment advisory committee of Singapore’s GIC, the Harvard Management Corporation, the Carnegie Corporation, the Rockefeller Foundation, and the Institute for Advanced Study in Princeton, NJ.

Conferences:

  • Fall 2013 - Oct. 22

Past Conference Speakers

GO TO:

A

Abrams, David - Abrams Capital, LLC
Ackman, William A. - Pershing Square Capital
Adams, John - Emeritus Professor of Geography, University College London
Aitken, James - Aitken Advisors, LLP
Akre, Chuck - Akre Capital Management
Alexander, Seth - MIT Investment Management Company
Arnott, Rob - Research Affiliates, Chairman
Aronson, Theodore - Aronson+Johnson+Ortiz
Aronstein, Michael C. - Preservation Group, LLC
Asness, Ph.D., Clifford S. - AQR Capital Management, LLC, Managing and Founding Principal
Avery, Dennis T. - Author
Ayer, James - Tiedemann/Ayer

B

Banerji, Anirvan - Economic Cycle Research Institute
Bass, Kyle - Hayman Capital Management, Managing Member
Ben-Ur, David - Corbin Capital Partners
Berg, Gilchrist - Water Street Capital
Bernstein, William - Efficient Frontier Advisors
Bessent, Scott - Key Square Group
Bianco, James - Bianco Research, LLC
Bobrow, Barry - Wachovia Corp.
Bogle, John C. - The Vanguard Group, Inc.
Boland, John - Remnant Partners
Bonderman, David - TPG Capital
Bregman, Steven - Horizon Kinetics, President, Co-Founder
Bronstein, Keith - TradeLink, LLC
Brosens, Frank - Taconic Capital Partners
Burkank, John - Passport Capital, LLC
Burn, Christopher - Coxe Advisors, LLC
Byrd, Frank - Fielder Capital Group, LLC
Byrne, John J. (Jack) - White Mountains Insurance Group

C

Cannell, J. Carlo - Cannell Capital Management
Cantor, Mitch - Mountain Lake Investment Management
Chanos, James S. - Kynikos Associates, LP, Founder and Managing Partner
Chilton, Jr., Richard L. - Chilton Investment Co.
Chu, Charlene - Autonomous Research
Cochrane, John H. - The University of Chicago Booth School of Business
Cohen, Martin - Cohen & Steers Capital Management
Cohodes, Marc - former managing partner of Copper River Management
Cole, Christopher - Artemis Capital Management
Cooperman, Leon - Omega Advisors, Inc.
Coxe, Don - Coxe Advisors, LLC

D

D'Alessandro, David - CMDTY Capital Management, LP
Daniels, Francis - Anibok Investment Research Chambers
Derman, Emanuel - Columbia University & Prisma Capital Partners
Diamond, Bob - Atlas Merchant Capital, Founder and CEO
Dimon, Jamie - JPMorgan Chase & Co.
Divecha, Arjun - Grantham, Mayo, Van Otterloo & Co.
Dizard, John - The Financial Times
Doyle, Mark - Sterling Grace Municpal
Druckenmiller, Stanley - Duquesne Family Office, LLC
Duffy, Kevin - Bearing Asset Management
Dunbar, Nicholas - Risk Magazine

E

Egan, Sean - Egan-Jones Rating Co.
Einhorn, David - Greenlight Capital, Inc.
Eisman, Steven - FrontPoint Partners
El-Erian, Mohamed - Harvard Management Co.
Ely, Bert - Ely & Company, Inc.
Eveillard, Jean-Marie - Arnhold & S. Bleichroeder Advisors, LLC - First Eagle Funds

F

Falls, Amy - Rockefeller University
Farrell, Michael - Annaly Mortgage Management
Feldman, Robert C. - Weil, Gotshal & Manges
Ferrari, Ph.D., Leonard A. - Naval Posgraduate School
Fidalgo, Miguel - Triarii Capital Management, LP
Fieler, Sean - Equinox Partners, LP
Fisher, Peter R. - Tuck School of Business at Dartmouth
Flatt, Bruce - Brookfield Asset Management
Fleckenstein, William - Fleckenstein Capital, Inc.
Flowers, J. Christopher - J.C. Flowers & Co.
Frey, Felix - Options Consulting Group, LLC
Fridson, CFA, Martin - Lehmann Livian Fridson Advisors LLC, CIO
Friedman, Joshua - Canyon Partners, LLC
Friend, Robert - Recon Capital, LLC
Fuss, Daniel - Loomis, Sayles & Co.

G

Galbraith, Steve - Herring Creek Capital Management, Managing Member
Gallagher, Thomas - ISI Group, Inc.
Gayner, Thomas - Markel Corp.
Gelernter, David - Yale University
Goehring, Leigh R. - Chilton Investment Co.
Goldstone, Larry - Thornburg Mortgage
Grant, James - Grant's Interest Rate Observer
Grantham, Jeremy - Grantham, Mayo, Van Otterloo & Co.
Gray, Jonathan - Blackstone Group
Greenberg, Maurice - C.V. Starr and Company
Greenig, Ph.D., Douglas - Greenwich Capital Markets
Greenspan, Alan - Greenspan Associates
Greenwald, Bruce - Columbia Business School
Gross, Bill - Janus Capital
Gundlach, Jeffrey E. - Doubleline, Chief Executive Officer & Chief Investment Officer
Gutfreund, John H. - Gutfreund & Company

H

Hague, Ian - Firebird Management
Hall, Andrew - Phibro, Inc.
Harkins, Michael - Levy, Harkins & Co.
Hartnett, Michael - BofA Merrill Lynch Global Research
Haskell, John - Explorador Capital Management
Hathaway, John - Tocqueville Asset Management
Hendry, Hugh - Eclectica Asset Management, CIO and Founder
Hess, Lisa W. - SkyTop Capital Management
Hill, Karl - Country Bank Co.
Hill, Charles L. - Thomson Financial
Hoisington, Van R. - Hoisington Investment Management
Hughes, John - Quantum Capital Management, LLC
Hunt, Lacy - Hoisington Investment Management Co.

I

Isaac, Paul J. - Arbiter Partners Capital Management

J

Jacobs, Sy - JAM Partners, LP

K

Kasriel, Paul L. - The Northern Trust Company
Katz, Michael - Glenrock Global Partners
Kelly, Mitchell - Anaconda Capital Management
Klarman, Seth - The Baupost Group, L.L.C., President and CEO
Klody, CFA, Mathew T. - MCN Capital Management, LLC, Managing Partner
Knapp, Robert - Ironsides Partners
Kovner, Bruce - Caxton Alternative Management

L

La Nasa, III, Joseph - Serengeti Asset Management, Managing Partner
Lampert, Eddie - ESL Investments, Inc.
Landis, Kevin - Firsthand Capital Management
Langone, Ken - Invemed Associates
Lassonde, Pierre - Franco-Nevada Corp., Chairman
Lawler, M.D., Ph.D., Joseph - Merus Capital Partners
Leder, Michelle - Footnoted.com
Lehrman, Lewis E. - L.E. Lehrman & Co.
Leibowitz, Martin - Morgan Stanley, Managing Director
Levenson, Thomas - Massachusetts Institute of Technology, author of
Levenson, Carol - Gimme Credit Publications
Lewis, Hunter - Author
Lewitt, Michael - Harch Capital Management
Lipper, Steve - Royce & Associates
Lipton, Martin - Wachtell, Lipton, Rosen & Katz
Litinsky, James H. - JHL Capital Group LLC
Lonski, John - Moody's Investors Service
Lukacs, John - Author
Lusman, Joel - Lusman Capital Management

M

Marks, Howard S. - Oaktree Capital Management, LP
Martin, R. Brad - RBM Venture Company
Mayer, Martin - Author,
McEwen, Robert - Goldcorp, Inc.
Mikhailovich, Simon A. - Tocqueville Bullion Reserve
Mikuni, Akio - Mikuni & Co., Ltd.
Miller, William - Legg Mason Fund Adviser
Miller, Steven - Standard and Poor's
Millstein, Jim - Millstein & Co.
Mindich, Eric - Eton Park Capital Management
Mindich, Jeremy - Scopia Capital, LLC

N

Ney, Keith - Carmignac

O

O'Connor, Jerry - O'Connor Capital Partners

P

Pan, Vivian - Hamlin Capital Management
Partnoy, Frank - University of San Diego
Paulson, John - Paulson & Co.
Peabody, Charles - Ventana Capital
Pellegrini, Paolo - PSQR Management, LLC
Pickens, T. Boone - BP Capital
Porter, Alex - Porter Felleman, Inc.
Price, Michael - MFP Investors

R

Redleaf, Andy - Whitebox Advisors, LLC
Reik, Trey - Bristol Investment Partners, CIO
Richardson, Kennedy - Fidelity Investments
Rickards, James - JAC Capital Advisors, Partner
Robertson, Julian - Tiger Management Corp.
Rocha, Bruno - Dynamo Capital, LP
Rogers, James - Author
Rohatyn, Felix - Lazard, Ltd.
Rollert, Jeffery - ALM Advisors
Rosenberg, David - Gluskin Sheff & Associates
Rosenberg, Joe - Loews Corporation, Chief Investment Strategist
Rosenwald, James - Rosenwald Capital Management
Rowe, Frederick - Greenbrier Partners, Ltd.
Royce, Charles - Royce & Associates

S

Sandor, Ph.D., Richard - Environmental Financial Products
Sarma, Karthik - SRS Investment Management
Saul, Bob - GMO Renewable Resources, Director Domestic Forestry Investments
Schiff, David - Schiff's Insurance Observer
Schwarzman, Stephen A. - Blackstone Group, Chairman and CEO
Senor, Dan - Elliott Management
Sherman, David - Cohanzick Management
Shilling, Ph.D., A. Gary - A. Gary Shilling & Co.
Simon, Jr., William E. - William E. Simon & Sons
Singer, Paul E. - Elliott Management
Smith, Randy - Alden Global Capital
Souza, Cristiano - Dynamo Capital, LP
Sprayregan, James - Kirkland & Ellis, LLP
Stahl, Murray - Horizon Asset Management, Inc.
Stephens, Bret - The Wall Street Journal
Stevenson-Yang, Anne - J Capital Research
Stockman, David A. - Former Director of the Office of Management and Budget, 1981-85
Succo, John - Alpha Investments of New York
Suria, Ravi - Duquesne Capital Mangement
Sussman, Donald - Paloma Partners
Swensen, David - CIO, Yale University

T

Taleb, Nassim Nicholas - Empirica, LLC
Tarrant, Jeffrey - Protege Partners
Thiel, Peter - Clarium Capital
Thompson, Cullen - Bienville Capital Management
Thorn, Jon - India Capital Management
Tisch, James - Loews Corporation

V

Volcker, Paul A. - Chariman Federal Reserve 1979 - 1987

W

Wachenheim, III, Ed - Greenhaven Associates
Wadhwaney, Amit - Third Avenue Management
Walsh, Timothy M. - Division of Investments, State of New Jersey, Director
Walter, Carl E. - Author
Warsh, Kevin - Hoover Institution
Weiss, Adam - Scout Capital
Werner, Mark - Pierpont Securities, LLC
Whitman, Martin J. - Third Avenue Management
Whitney, Meredith - Meredith Whitney Advisory Group, LLC
Wien, Byron - The Blackstone Group
Winters, David - Franklin Mutual Advisers, LLC
Wolf, Martin - Financial Times

X

Xiaosheng, Chen - SYWG Research & Consulting, Co.

Y

Yoo, Simon - Green Visor Capital Management Company, LLC
Yusko, Mark W. - Morgan Creek Capital Management, CEO and Chief Investment Officer

Z

Zell, Sam - Equity Group Investments
Zelman, Ivy - Zelman & Associates
Zervos, David - Jefferies & Company

Upcoming Conferences

October 10, 2017 - New York

April 10, 2018 - New York

October 9, 2018 - New York

Past Conferences & Presentations

Past Speakers 

Past Conference Books

Common Stocks & Common Sense: The Strategies, Analyses, Decisions and Emotions of a Particularly Succesful Value Investor
By Edgar Wachenheim III

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Heyday: The 1850s and the Dawn of the Global Age
By Ben Wilson

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Whiplash: How to Survive Our Faster Future
By Joi Ito & Jeff Howe

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The Grid: The Fraying Wires Between Americas and Our Energy Future
By Gretchen Bakke, Ph.D.

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Winning at Active Management: The Essential Roles of Culture, Philosophy, and Technology
By William W. Priest, Steven D. Bleiberg & Michael A. Wellhoelter

Read More >

More Past Conference Books >

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