We began with an improvement of mean variance optimization, which had been the standard portfolio optimization process for almost fifty years.
Dr. Richard Michaud and Robert Michaud developed Michaud Resampled Efficiency™, a portfolio optimization process that accounts for the uncertainty inherent in investment. In 1998, Dr. Michaud published his findings in Efficient Asset Management: A Practical Guide to Stock Portfolio Optimization and Asset Allocation (Harvard University Press, 1998 and Oxford University Press, 2008). The book garnered immediate attention. The following year, the Michauds patented Michaud optimization and founded New Frontier.
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