Masters of Finance

Masters of Finance: Interviews With Some of the Greatest Minds in Investing and Economics
A new book from IMCA: Insight, education, and inspiration a decade in the making
Edited by Margaret M. Towle, PhD, CPWA®

US$45 nonmembers + shipping & handling    US$30 members + shipping & handling   

For more than a decade, the editorial board of the Investment Management Consultants Association’s Journal of Investment Consulting has been conducting interviews with individuals we consider to be Masters in the areas of finance and economics. Our Masters so far have included seven Nobel laureates (Fama, Kahneman, Markowitz, Merton, Scholes, Sharpe, and Shiller) and eight additionally extraordinary investment visionaries (Bernstein, Bogle, LeBaron, Leibowitz, Litterman, Malkiel, Thaler, and Thorp).

Our method was straightforward. We began each interview by asking an open-ended, scene-setting question such as, “Would you tell us what you consider your greatest accomplishment—as well as your greatest disappointment?” Then we opened up the interview to questions from committee members, allowing the conversation to go where it may. 

We initially thought these interviews would appeal to investment professionals who were interested in learning about the underpinnings of modern finance and economics, so we published the Masters interviews starting in 2004 in the Journal of Investment Consulting. As the project continued, however, we were surprised—and delighted—to find that our conversations with the Masters also provided insight to the human side of the world of investments. Read how these Masters of Finance learned:

• Understanding risk is paramount
• The desire to learn is a constant and vital to any successful endeavor
• Flexibility in thinking and openness in considering other worldviews expand the solution set
• Taking the path less followed early in your career leads to breakthroughs later on
• Survival in a competitive world requires overcoming disappointment and moving on
• Collaboration is vital to innovative solutions
• Luck happens, go with it
• Put clients first—no matter what
• Recognizing that you do not have all the answers is the first step toward a solution
• Innovation is disruptive; be prepared for opposition
• Education is of the utmost importance


Masters of Finance is available now. Order today at our online store.
Contact IMCA for bulk order pricing, 20 copies and up

"A compelling look into the thinking and the lives of the people who shaped the investment industry—from both the academic and practitioner perspectives.”
— Edward D. Baker, Executive Chairman, The Cambridge Strategy

"Margaret Towle has done a masterful job in putting together Masters of Finance, a treasure trove of brilliant insights and candid ruminations of the leading lights in our business. A must read for those seeking a mastery of finance.”
— Arun Muralidhar, PhD, Co-Founder, Mcube Investment Technologies

"This is an amazing compilation of insights from some of the brightest minds in finance. Readers will not only find this information to be fascinating, but will also find ways to incorporate this in their portfolio decisions to achieve better outcomes.”
— John Nersesian, CIMA®, CPWA®, CIS, CFP®, Managing Director, Wealth Management Services, Nuveen Investments

"Masters of Finance offers an up close and personal account of how these great pioneers overcame skepticism and scrutiny on their way to reshaping the academic field of investing and how their research and analysis have changed how practitioners build portfolios and manage money."
— Jim Dobbs, CIMA®, CFP®, CPWA®, Program Director, CPWA® Education Program, The University of Chicago Booth School of Business