Burton Malkiel and Aleksander Radisich, economics professors at Princeton University and California State University-Long Beach, received the Bernstein Fabozzi/Jacobs Levy Best Article Award for their work, "The Growth of Index Funds and the Pricing of Equity Securities.
Four Outstanding Articles awards were presented: "Value of Skill in Security Selection vs. Asset Allocation in Credit Markets by Lev Dynkin, Jay Hyman and Wei Wu of Lehman Brothers; "Cognitive Biases in Market Forecasts by Kenneth Fisher of Fisher Investments and Meir Statman of Santa Clara University; "Why the Low Returns to Beta and Other Forms of Risk by Edward Miller of University of New Orleans; and "The Death of the Risk Premium by Robert Arnott of First Quadrant and Ronald Ryan of Ryan Labs.
The awards, presented annually by the Journal of Portfolio Management, recognize excellence in research papers. The Best Article winner receives a $2,500 prize. Outstanding Article winners receive $1,000.