Instructors

Robert Michaud
Chief Investment Officer
New Frontier

Robert Michaud is Chief Investment Officer and Chief Technology Officer at New Frontier. He is the co-inventor of Michaud Resampled Optimization and has four U.S. patents in portfolio optimization and investment management. He is co-author of Efficient Asset Management: A Practical Guide to Stock Portfolio Optimization and Asset Allocation (Harvard 1998, 2nd ed. Oxford 2008) and numerous research articles in refereed journals.

As chair of New Frontier’s Investment Policy Committee, Robert is the lead manager of the firm’s institutional global strategic tax-exempt, global strategic tax-sensitive, and global multi-asset strategic income ETF investment strategy portfolios. Robert has over fifteen years’ experience developing and managing the New Frontier global strategic ETF portfolios. He has also lead the development of new technology at New Frontier, incorporating a multi-patented investment process into software for both clients and New Frontier alike to deepen the efficacy and usability of our investment tools. 

Robert’s research and contributions to applied finance over his decades-long career were profiled in WatersTechnology in "Rebel Math: Robert and Richard Michaud, New Frontier Advisors," an article authored by James Rundle. Robert holds a Masters in Mathematics from Boston University and pursued a Ph.D. in finance from the Anderson School of Management at the University of California, Los Angeles before joining New Frontier. 

Dr. Richard Michaud
President and Chief Executive Officer
New Frontier

Dr. Richard Michaud is President and Chief Executive Officer of New Frontier. He earned a PhD in Mathematics from Boston University and has taught investment management at Columbia University. His research and consulting has focused on asset allocation, investment strategies, global investment management, optimization, stock valuation, and trading costs. He is the author of Efficient Asset Management (Harvard 1998, 2nd ed. Oxford 2008 with Robert Michaud), Investment Styles, Market Anomalies, and Global Stock Selection (CFA Research Monograph 1999), and over 60 published journal articles, manuscripts, and white papers available at SSRN.com and Researchgate.com, as well as on the New Frontier website.

He is co-holder of four U.S. patents in portfolio optimization and asset management, a Graham and Dodd Scroll winner for his work on optimization, a former editorial board member of the Financial Analysts Journal, associate editor of the Journal Of Investment Management, and former director of the Q Group. Dr. Michaud's research was recently profiled in the WatersTechnology cover story "Rebel Math" (January 2019). Notable press articles also include "Modern Portfolio Theory’s Evolutionary Road" (Institutional Investor 2010) and Markowitz says Michaud has built a better mousetrap” (Pensions & Investments 2003).

Published Work

  1. Michaud, Richard O., Robert O. Michaud and David N. Esch, “Estimation Error and the Fundamental Law of Active Management,” (September 2018).
  2. Michaud, Richard O., Robert O. Michaud and David N. Esch, "Comment on 'Markowitz versus Michaud: Portfolio Optimization Strategies Reconsidered,' Becker, Gürtler and Hibbeln," European Journal of Finance, 21(4): (2015).
  3. Michaud, Richard O., David N. Esch and Robert O. Michaud, "Deconstructing Black-Litterman: How to Get the Portfolio You Already Knew You Wanted,” Journal Of Investment Management, Vol. 11 No. 13 (2013). 
  4. Michaud, Richard O., Robert O. Michaud and David N. Esch, “Portfolio Monitoring in Theory and Practice,” Journal Of Investment Management, Vol. 10 No. 4 (2012). 
  5. Michaud, Richard O. and Robert O. Michaud, “The Problem with Target Date Funds,” Investment News, (May 2010).
  6. Michaud, Richard O. and Robert O. Michaud, “Target date funds aren’t a panacea,” Investment News, (May 2010).
  7. Michaud, Richard O. and Robert O. Michaud, “Are Good Estimates Enough? No.," Investment Management Consultants Association (2009).
  8. Michaud, Richard O. and Robert O. Michaud, Efficient Asset Management: A Practical Guide to Stock Portfolio Optimization and Asset Allocation, Second Edition (2008), Oxford University Press.
  9. Michaud, Richard O. and Robert O. Michaud, "Defense of Markowitz-Usmen," New Frontier Advisors’ Newsletter 1st Quarter (2008).
  10. Michaud, Richard O. and Robert O. Michaud, “Estimation Error and Portfolio Optimization: A Resampling Solution,” Journal Of Investment Management, Vol. 6 No. 1 (2008).
  11. Michaud, Richard O., Robert O. Michaud and Katharine Pulvermacher, “Gold as a Strategic Asset,” World Gold Council, (2006).
  12. Michaud, Richard O., “A Practical Framework for Portfolio Choice,” Journal Of Investment Management, Vol. 1 No. 2 (2003).
  13. Michaud, Richard O. and Robert O. Michaud, “Portfolio Resampling: Review and Critique," Financial Analysts Journal, Vol. 3 (2003).
  14. Michaud, Richard O., “An Examination of Resampled Portfolio Efficiency: A Comment,” Financial Analysts Journal, Vol. 1 (2003).
  15. Michaud, Robert O. and Richard O. Michaud., "Resampled Portfolio Rebalancing and Monitoring,” New Frontier Advisors’ Newsletter 4th Quarter, (2002).

Where

 

Boston College Club
100 Federal Street
36th Floor
Boston, MA 02210

 

When

 

March 12, 2020
8:45 AM - 6:00 PM

 

Questions?

 

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