Who is William J Bernstein?

This week, we speak with William J. Bernstein, who began his career as a neurologist before becoming a financial theorist and investment advisor. His firm, Efficient Frontier Advisors, manages assets for Ultra High Net Worth (UHNW) Investors. (They are closed to new investors).

Is Dr Bernstein's Smart Money portfolio a good investment?

The compounded annual growth rate (CAGR) over 5 years of Dr. Bernstein's Smart Money Portfolio is 4.6%, which is lower, thus worse compared to the benchmark SPY (11%) in the same period. During the last 3 years, the annual performance (CAGR) is 7.6%, which is lower, thus worse than the value of 14.2% from the benchmark.

What is Bernstein known for?

Bernstein has earned acclaim for his recognition of the elements that drives markets and investments in his various writings, as well his deeply researched financial history books. He explains how he was working as a neurologist and pivoted to finance after he published his first two books, and the public began offering him money to manage.