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Contributors David Blitz Craig Israelsen Mebane Faber Ronald Slivka Felix Goltz David Blitzer David Blanchett David Blanchett, CFA, is head of retirement research for Morningstar Investment Management, where he provides research support for the group’s consulting and investment management activities. Blanchett holds a bachelor’s degree in finance and economics from the University of Kentucky, a master’s degree in financial services from the American College, and an MBA from the University of Chicago Booth School of Business. David Blitz is senior vice president and co-head of Quant Research at Robeco, where he is responsible for coordinating all quantitative equity research efforts. He joined Robeco in 1995 after graduating cum laude in econometrics at Erasmus University in Rotterdam. In 2011, Blitz obtained a Ph.D. in empirical finance from the same university. His research has been published in multiple peer-reviewed academic journals. David Blitzer is managing director and chairman of S&P Dow Jones Indices’ index committee. He has overall responsibility for security selection for the company’s indexes, as well as index analysis and management. Blitzer previously served as chief economist for Standard & Poor’s and as corporate economist at The McGraw-Hill Companies. A graduate of Cornell University, he received his M.A. in economics from George Washington University and his Ph.D. in economics from Columbia University. Mebane Faber, CAIA, CMT, is co-founder and chief investment officer of Cambria Investment Management. He is manager of Cambria’s Global Tactical ETF (GTAA), separate accounts and private investment funds for accredited investors. Faber is also author of the World Beta blog, and coauthor of “The Ivy Portfolio: How to Invest Like the Top Endowments and Avoid Bear Markets.” He graduated from the University of Virginia with a double major in engineering science and biology. Felix Goltz is head of applied research at EDHEC-Risk Institute. He does research in empirical finance and asset allocation, with a focus on alternative investments and indexing strategies. Goltz’s work has appeared in various international academic and practitioner journals and handbooks. He obtained his Ph.D. in finance from the University of Nice Sophia Antipolis after studying economics and business administration at the University of Bayreuth and EDHEC Business School. Craig Israelsen is an associate professor at Brigham Young University. He writes monthly for Financial Planning magazine. Israelsen is a principal at Target Date Analytics and the designer of the 7Twelve Portfolio. He is also the author of “7Twelve: A Diversified Investment Portfolio with a Plan” (John Wiley & Sons), published in 2010. Israelsen holds a Ph.D. in family resource management from Brigham Young University. Ronald Slivka is an adjunct professor at the Polytechnic Institute of New York University and a faculty member of the New York Institute of Finance. During his more than 35 years of practical Wall Street experience, Slivka held equity derivative sales and management positions at Salomon Brothers, J.P. Morgan and ABN AMRO. He has written over 35 articles and book chapters on a broad range of derivative topics and holds a Ph.D. in physics from the University of Pennsylvania. 2 March / April 2013
McGRAW-HILL You can never have too many shoes. How do you find the right fit when it’s your portfolio? LET’S FIND OUT. When you have a particular style in mind, you don’t want to compromise on brand name or quality. From its iconic S&P 500 ® and Dow Jones Industrial Average to thousands of indices across sectors, strategies and themes, S&P Dow Jones Indices gives issuers the right fit for every occasion. We’ll help your investment portfolio step out in style. Learn more at spdji.com/depthandbreadth Copyright © 2012 by S&P Dow Jones Indices LLC, a subsidiary of The McGraw-Hill Companies, Inc., and/or its affiliates. All rights reserved. S&P Dow Jones Indices LLC is a subsidiary of The McGraw-Hill Companies, Inc. Standard & Poor’s, S&P and S&P 500 are registered trademarks of Standard & Poor’s Financial Services LLC, a subsidiary of The McGraw-Hill Companies, Inc. Dow Jones is a registered trademark and Dow Jones Industrial Average is a trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”). All Trademarks have been licensed to S&P Dow Jones Indices LLC. It is not possible to invest directly in an index. S&P Dow Jones Indices LLC, Dow Jones, S&P and their respective affiliates (collectively “S&P Dow Jones Indices”) do not sponsor, endorse, sell, or promote any investment fund or investment vehicle that seeks to provide an investment return based on the performance of an index. This document does not constitute an offer of services in jurisdictions where S&P Dow Jones Indices does not have the necessary licenses. S&P Dow Jones Indices receives compensation in connection with licensing its indices to third parties.
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