Prof. Roger Ibbotson Honored by Investments & Wealth Institute
The organization, a professional association of financial advisors and wealth managers, recognized Ibbotson’s influential research with the Investment Consulting Impact Award.
Roger Ibbotson, an eminent finance scholar and professor in the practice emeritus of finance, has received the Investment Consulting Impact Award from the Investments & Wealth Institute.
Conferred during the organization’s annual conference on March 31, the award recognizes outstanding practitioners with a “demonstrated commitment to the field of investment consulting.”
Within the field of financial economics, Ibbotson is well-known for measuring long-term stock and bond returns and for providing the historical estimates of equity risk premiums widely used in predicting asset expected returns, the cost of capital, and the discount rates used in security valuation. As a teacher, he is well-known for creating the Yale Stock Trading Game, a simulation that allows students to practice trading an investment portfolio and reacting to public and private information. Adapted into a web-based experience at Yale, the game has become a rite of passage for SOM students and has spread to other business schools.
Outside of his academic work, Ibbotson founded the investment research firm Ibbotson Associates in 1977. Capital market data produced by the firm helped popularize the use of asset allocation models across the industry. Ibbotson sold the firm to the financial data company Morningstar in 2006.
The Investments & Wealth Institute said the award recognized Ibbotson’s “significant contributions to financial research.” In particular, the organization noted his work as the chairman of Zebra Capital Management, and described Stocks Bonds Bills and Inflation, an annually updated book he co-authored with Rex Sinquefield, as a “standard reference on capital market returns.”
Ibbotson earned a PhD at the University of Chicago. He arrived at SOM in 1984, a few years after the school was founded, and helped to shape the relatively new finance department. He has conducted research on a range of financial topics including popularity, liquidity, investment returns, mutual funds, international markets, portfolio management, and valuation. His published books include Popularity: A Bridge between Classical and Behavioral Finance and Lifetime Financial Advice: Human Capital, Asset Allocation, and Insurance, and more than 40 years of Stocks, Bonds, Bills, and Inflation yearbooks.
