An Extraordinary Fireside Chat: Nobel Laureate Dr. William F. Sharpe on the Future of Financial Advice

A Wealth Management Advisory Council and Wealth Management League Sponsored Event

MEMBERS-ONLY RECORDING

Nobel Prize–winning economist Dr. William Sharpe has spent most of his career thinking about risk, having developed the Capital Asset Pricing Model for gauging systemic risk and the Sharpe ratio, which measures risk-adjusted return. Dr. Sharpe has since turned his attention to what may be the biggest risk of all for investors—running out of money in retirement. He created a computer program that covers 100,000 retirement-income scenarios based on different combinations of life spans and investment returns for a retired couple. What he calls “the nastiest, most difficult problem in finance” is knowing how to balance having enough income to meet investors’ current needs and wants and having enough to get them through their lifetime. In this fireside chat, he will share a few ideas for how retirees can better manage this risk, as well what he believes are best practices for financial advisors and investors and what the ideal future of financial advice and investing will look like. Absolutely not to be missed. Seating is limited so reserve as soon as possible.

MODERATOR

Thomas Mahoney, CFA, CAIA | Tom is a private wealth advisor with UBS Private Wealth Management, which is a division of the firm serving ultra-high net worth investors. In addition to his over 35 years of experience in advising investors, he has served the professional investment community in a number of roles, including as President of CFA Society Los Angeles and co-founder and President of the Southern California Chapter of the Chartered Alternative Investment Analyst Association. He is currently Co-Chair of the Private Wealth Management committee of CFALA and serves as an instructor in the USC/CFALA CFA Review Course, in Alternative Investments for Level II candidates.

Tom holds a B.B.A. in Finance from the University of Wisconsin-Madison, an M.B.A. from Pepperdine University, and has completed the Private Equity and Venture Capital Program at Harvard Business School. ;Back To Top ^^

SPEAKERS

Dr. William Sharpe | William F. Sharpe is the STANCO 25 Professor of Finance, Emeritus at Stanford University's Graduate School of Business. He joined the Stanford faculty in 1970, having previously taught at the University of Washington and the University of California at Irvine.

He was one of the originators of the Capital Asset Pricing Model, developed the Sharpe Ratio for investment performance analysis, the binomial method for the valuation of options, the gradient method for asset allocation optimization, and returns-based style analysis for evaluating the style and performance of investment funds.

Dr. Sharpe has published articles in a number of professional journals, including Management Science, The Journal of Business, The Journal of Finance, The Journal of Financial Economics, The Journal of Financial and Quantitative Analysis, The Journal of Portfolio Management, and The Financial Analysts' Journal.

His books include Portfolio Theory and Capital Markets (McGraw-Hill, 1970 and 2000), Asset Allocation Tools (Scientific Press, 1987), Fundamentals of Investments (with Gordon J. Alexander and Jeffrey Bailey, Prentice-Hall, 2000), Investments (with Gordon J. Alexander and Jeffrey Bailey, Prentice-Hall, 1999) and Investors and Markets: Portfolio Choices, Asset Prices and Investment Advice (Princeton University Press, 2007). Fifty-two of his papers are included in William F. Sharpe, Selected Works (World Scientific, 2012). An ebook and matlab software for Retirement Income Analysis with Scenario Matrices are available at www.stanford.edu/~wfsharpe.

Dr. Sharpe is past President of the American Finance Association. In 1990 he received the Nobel Prize in Economic Sciences.

He received his Ph.D., M.A. and B.A. in Economics from the University of California at Los Angeles. He is also the recipient of a Doctor of Humane Letters, Honoris Causa from DePaul University, a Doctor Honoris Causa from the University of Alicante (Spain), a Doctor Honoris Causa from the University of Vienna (Austria), a Doctor of Science, Economics, Honoris Causa from the London Business School and the UCLA Medal, UCLA’s highest honor. A detailed vitae sheet is available at www.wsharpe.com/bio/vitae.htm Back To Top ^^