For the inaugural episode of The Long View, a new weekly podcast from Morningstar, hosts Christine Benz and Jeff Ptak interviewed noted investment advisor and author William Bernstein.
Bill's entree into the world of investments was a circuitous one: A neurologist by training, he taught himself the principles of investing and asset allocation, eventually parlaying that knowledge into a successful financial advisory practice and a series of influential, critically acclaimed books such as The Intelligent Asset Allocator, The Four Pillars of Investing, and The Investor's Manifesto.
During the course of this conversation, Bill discusses his background and how it shaped his development and thinking as an investor. He also talks about how he applies those lessons in working with clients who are trying to meet goals like a comfortable, secure retirement. In addition, Bill opines on how the retirement system could be improved, whether factor investing works, and which asset classes look especially expensive today.
In future episodes, the featured guests will change but the extensiveness of the conversation won't. Some discussions may be more biographical, with details about guests' professional histories. Other interviews may delve deeper into their perspectives on the industry, best practices, and competitive landscapes.
About the Podcast: The Long View is a new podcast from Morningstar. Each week, hosts Christine Benz and Jeff Ptak will conduct an in-depth discussion with a thought leader from the world of investing or personal finance. The podcast is produced by George Castady and Scott Halver.
About This Week's Guest: William J. Bernstein, Ph.D., M.D., is a neurologist and the cofounder of the investment management firm Efficient Frontier Advisors. He is the author of several books on finance and economic history, including The Intelligent Asset Allocator, The Four Pillars of Investing, The Investor’s Manifesto, and The Birth of Plenty.
About the Hosts: Christine Benz and Jeff Ptak have been analysts and commentators on investments and the investment industry for many years. Christine is Morningstar's director of personal finance and senior columnist for Morningstar.com. Jeff is head of global manager research in Morningstar Research Services, overseeing Morningstar's team of 120 manager research analysts in the U.S. and overseas.
To Share Feedback or a Guest Idea: Write us at TheLongView@morningstar.com.