Efficient Frontier
      Efficient Frontiers Logo

      An Online Journal of Practical Asset Allocation

      Edited by William J. Bernstein
      and Susan F. Sharin



      Most Recent Article: 

      June 2012: The $100 Billion Oxymoron

      Back Issues:

      August 2010: Wild about Harry

      March 2009: An Open Letter to Joe Nocera

      March 2008: The Dark Side of the Moon

      February 2008: Fifty Years From Now

      June 2007: Comin' Around Again?

      April 2007: The Executioner of Excellence

      September 2006: On Stuff

      August 2006: Thick as a BRIC

      May 2006: Fundamental Indexing

      March 2006: A Mean-Variance Society?

      December 2005: The Longest Discipline

      November 2005: Too Much Capital

      September 2005: Mea Culpa

      July 2005: The Estate Tax — Does It Really Matter?

      Efficient Frontier Spring 2005 Acrobat Version

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      Efficient Frontier is produced by and for small investors who recognize that long-term portfolio performance is determined almost exclusively by the allocation of assets among broad security classes. Successful investing is made immeasurably easier by a knowledge of:

      1. The historical range of returns and risks associated with various security classes.

      2. Portfolio theory.

      Until recently, portfolio analysis has been the exclusive domain of academicians and financial analysts. Portfolio analysis is usually treated by its practitioners as a holy mystery, the workings of which are shrouded in secrecy. Its output does not come cheap. However, the availability of inexpensive returns data, microprocessors, and analytical software (in particular amazingly sophisticated and cheap spreadsheets) has made this area easily accesible to small investors.

      Efficient Frontier is aimed at readers who have already acquired a working knowledge of the capital markets and portfolio theory. Those who have not yet mastered these areas and would like to explore them are encouraged to visit these related sites:

      • The Online Asset Allocator
      • The Basics of Investing and Portfolio Theory
      • Reading List


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