{{Short description|American financial economist}} '''Martin L. Leibowitz''' is a financial researcher, business leader, and a managing director of [[Morgan Stanley]].<ref>http://www.morganstanley.com/about/press/articles/3582.html {{dead link|date=June 2017 |bot=InternetArchiveBot |fix-attempted=yes }}</ref><ref>{{Cite web | url=http://investing.businessweek.com/businessweek/research/stocks/people/person.asp?personId=3768270 | title=Stocks }}{{dead link|date=April 2023|bot=medic}}{{cbignore|bot=medic}}</ref> His most well-known work is ''Inside the Yield Book''.
==Career== Before joining Morgan Stanley, Leibowitz was vice chairman and chief investment officer of [[TIAA-CREF]] from 1995 to 2004. Previously he had worked for 26 years for [[Salomon Brothers]], rising to become its managing director in charge of research.<ref>{{Cite news | url=https://www.nytimes.com/1995/04/12/business/salomon-official-to-be-new-investment-chief-for-cref.html | title=Salomon Official to be New Investment Chief for CREF | newspaper=The New York Times | date=12 April 1995 | last1=Strom | first1=Stephanie }}</ref><ref name="fiasi">{{Cite web | url=https://fiasi.org/1995-hall-of-fame/ | title=Martin L. Leibowitz }}</ref> He is also a member of the Board of Trustees of the [[Institute for Advanced Study]].<ref>{{Cite web | url=http://www.ias.edu/people/trustees | title=Board of Trustees | Institute for Advanced Study | date=6 March 2016 }}</ref> In April 2009 he was named adviser to the board of directors to [[Government of Singapore Investment Corporation|Singapore's sovereign fund]]. In March 2012, he was appointed to The Rockefeller Foundation's board of trustees.<ref>{{Cite news|url=https://www.rockefellerfoundation.org/about-us/news-media/martin-l-leibowitz-and-monica-lozano-join-the-rockefeller-foundation-board-of-trustees/|title=Martin L. Leibowitz and Monica Lozano Join The Rockefeller Foundation Board of Trustees - The Rockefeller Foundation|work=The Rockefeller Foundation|access-date=2017-03-28|language=en-US}}</ref>
Leibowitz has authored several books and more than 150 articles, 10 of which have received the [[Financial Analysts Journal]]'s Graham and Dodd Award of Excellence.<ref>{{Cite web | title=News Articles {{!}} FindArticles | url=http://findarticles.com/p/articles/mi_m0EIN/is_2005_May_11/ai_n13680904/ | access-date=2025-09-06 | website=findarticles.com}}</ref> His ''[[Inside the Yield Book]]'' (co-authored with Sidney Homer), first published in 1972 and reissued in 2004, is a work which, according to [[Frank Fabozzi]], "transformed the markets’ understanding of bonds."<ref>{{Cite web |url=http://carnegie.org/publications/books/2004/ |title=Carnegie Corporation of New York: New Books |access-date=2010-08-25 |archive-date=2010-10-28 |archive-url=https://web.archive.org/web/20101028054040/http://carnegie.org/publications/books/2004/ |url-status=dead }}</ref> He was instrumental in developing the [[Dedicated Portfolio Theory|dedicated portfolio theory]] in the 1980s.
Leibowitz is also the recipient of the following [[CFA Institute]] Awards: the Nicholas Molodovsky Award in 1995, the James R. Vertin Award in 1998, and the Award for Professional Excellence in 2005.<ref>{{cite web|url=https://www.cfainstitute.org/about/press/release/Pages/04272009_16372.aspx |title=Yale's David F. Swensen Receives the CFA Institute Award for Professional Excellence |accessdate=2010-08-25 |url-status=dead |archiveurl=https://web.archive.org/web/20120307092115/http://www.cfainstitute.org/about/press/release/Pages/04272009_16372.aspx |archivedate=2012-03-07 }}</ref> In 1995, he was the first person inducted into the Fixed Income Analysts Society Hall of Fame.<ref name="fiasi"/>
Leibowitz holds both a bachelor's and master's degree from the [[University of Chicago]] and a Ph.D. in mathematics from the [[Courant Institute]] of [[New York University]].<ref>{{cite web |title =Martin Leibowitz|publisher = [[Pensions & Investments]] |date=October 27, 2003 |url = https://www.pionline.com/article/20031027/PRINT/310270753/martin-leibowitz}}</ref>
==Bibliography== *''Inside the Yield Book'', (with Sidney Homer), 1972 *''Return Targets and Shortfall Risks: Studies in Strategic Asset Allocation'', (with Stanley Kogelman and Lawrence N. Bader), 1995 *''Franchise Value: A Modern Approach to Security Analysis'', 2004 *''Modern Portfolio Management: Active Long/Short 130/30 Equity Strategies'', (with Simon Emrich and Anthony Bova), 2008 *''The Endowment Model of Investing: Return, Risk, and Diversification'', (with Anthony Bova and P. Brett Hammond), 2010
==References== {{Reflist}}
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{{DEFAULTSORT:Leibowitz, Martin L.}} [[Category:Living people]] [[Category:Financial economists]] [[Category:University of Chicago alumni]] [[Category:Trustees of the Institute for Advanced Study]] [[Category:Directors of Harvard Management Company]] [[Category:Courant Institute of Mathematical Sciences alumni]] [[Category:Year of birth missing (living people)]]