Wednesday, September 26, 2007
Jeremy J. Siegel
Jeremy J. Siegel ( DOB: November 14th, 1945 ) has been the Russell E. Palmer Professor of Finance at the Wharton School of the University of Pennsylvania since 1998. He joined Wharton in 1976. From 1972 to 1976, he was an Assistant Professor of Business Economics at the Graduate School of Business, University of Chicago, and a colleague of Milton Friedman. Before that, he spent one year, from 1971 to 1972 as a National Science Foundation Post-Doctoral Fellow at Harvard University.Education:
Ph.D. in Economics, MIT, 1971
B.A. Summa cum laude in Mathematics and Economics, and Phi Beta Kappa,
Columbia University, 1967
Professor Siegel writes regular columns for Kiplinger's and Yahoo! Finance, in addition to occasional contributions to the Wall Street Journal, FT and other financial publications. he is also a frequent guest on CNN,CNBC, NPR and other networks. is currently the academic director of the U.S. Securities Industry Institute. Prof. Siegel currently serves as a Director on the board of members and a Senior Investment Strategy Advisor for WisdomTree Investments, Inc.
Research areas, books and published papers: His research areas include macroeconomics and long-run asset returns. Prof. Siegel is the author of three published books:
- Stocks for the Long Run. 4th ed., McGraw Hill, Nov 30, 2007
- The Future for Investors. Crown Business, 2005
- Revolution on Wall Street: The Rise and Decline of the New York Stock Exchange, W W Norton & Co Inc
Opinion : He has arguably been more successful personally and maintains a relatively higher profile than other financial experts, professors and proponents of investing strategies. His personal website, which is a for-profit concern, is a point of contention which raises speculation regarding his motivations. At the 2006 Berkshire Hathaway annual meeting, Vice Chairman Charlie Munger called Prof. Siegel 'demented' in his assumptions while making future predictions.
In an article on Sept 24th, Prof. Siegel expresses satisfaction with the Fed's rate cuts and Bernanke's actions. He also expresses the opinion that the dollars slide is nearly over and no prospects for negative GDP growth on the horizon. "If you went to sleep in July and woke up today and looked at prices, you would say "Volatility? What volatility?""
This points out his continued fascination with stocks as solid long term investments, a concept he explains in detail in his book Stocks for the Long Run. During the late 1990's he was a big cheerleader for stock investments as the market remained bullish fuelled by tech stocks, and even after the dot com carnage subsided, he still maintains his buy and hold advice, albeit with refinements - In his second book The Future for Investors, Prof. Siegel advises investors to stick with large and established companies rather than rapidly growing, but relatively new companies.
References: http://www.wharton.upenn.edu/faculty/siegel.html
http://www.jeremysiegel.com/
http://money.cnn.com/2004/11/30/markets/siegel_0412/index.htm
http://www.amazon.com/s?&index=books&field-author=Jeremy%20J.%20Siegel
http://en.wikipedia.org/wiki/Jeremy_Siegel
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