About the Institute
The Frontier Institute for Asset Management in practice is designed to be a scholarly repository and resource for academics, investment professionals, and investors with interest in understanding the evolution of quantitative asset management beginning in the late 20th century. Dr. Richard Michaud’s fifty-year legacy of published research and professional presentations, representing the foundational archive of the Institute, reflects the quantitative methods and procedures that have been implemented at New Frontier Advisors since its establishment. The Institute also archives critical contributions by Robert Michaud and Dr. David Esch.
The Institute’s mission is to promote authoritative research on asset management by bridging the gap between academy and the workbench with cutting-edge research in daily practice.
Reach of Research
Books and articles by Richard Michaud, Robert Michaud, and David Esch on topics ranging from active management to dividend discount models to portfolio optimization in practice have helped investors and advisors worldwide make better decisions and avoid the many pitfalls in the industry today. Here are the quarterly reads of Dr. Richard Michaud’s papers on Research Gate (www.researchgate.net).
The Reach of Our Research: Hover over a country for the cumulative total of papers read in that country since the beginning of 2017. Hover over a circle for the total read in that country for the listed quarter.
Latest Publication
Economic and Financial Theory Has Been in Error for More than 60 Years...
There is a foundational crisis in professional asset management. Investors are increasingly adopting minimal cost no-information index and factor fund strategies. This is because little if any evidence exists for superior cost- and risk-adjusted professional asset management performance of over investment-relevant horizons. The text argues that economic and financial theory have been in error for more than sixty years and is the cause of ineffective investment technology. Social science is preference theory not physics. Finance’s Wrong Turns offers a unique philosophical perspective of modern finance and financial markets. Drawing on contemporary sociological principles, and his decades of experience as asset manager and institutional strategist, Michaud invites analysts, advisors, and institutional portfolio managers to consider a new framework for improved asset management.
In his Book Dr. Michaud will:
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Trace the major historical developments of institutional asset management practice and its limitations.
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Narrate professional asset management practice.
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Describe the key contemporary principles of human cognition and rational decision making.