Martin L. Leibowitz, PhD

Martin L. Leibowitz shaped modern investing through his work in fixed income, asset allocation, and portfolio strategy. He is best known for applying a “liability-asset” approach to portfolio optimization — a key tool for pension funds — and for clarifying the concept of equity duration. He held senior posts at Salomon Brothers, TIAA-CREF, and Morgan Stanley, and authored more than 200 articles, becoming the most frequent contributor to Financial Analysts Journal, where many of his pieces earned top awards. Leibowitz held AB and MS degrees from the University of Chicago and a PhD in mathematics from New York University’s Courant Institute.

Leibowitz received three highly-regarded CFA Institute awards: the Nicholas Molodovsky Award in 1995, the James R. Vertin Award in 1998, and the Award for Professional Excellence in 2005. He was awarded Graham and Dodd Awards of Excellence for nine articles, earning top honors in 1986 and 1987