The Financial Analysts Journal knows how to throw itself a party.
For its 60th anniversary, the bimonthly research organ of the CFA Institute, Charlottesville, Va., hosted a "who's who" of the investment world at a conference designed to look at both the past and the future. The investment luminaries will also be writing "reflections" on the industry in this year's FAJ, starting with the January issue.
Heading the all-star lineup:
• Jack Bogle, founder of The Vanguard Group, who lambasted the mutual fund industry for benefiting at the expense of its customers;
• Dean LeBaron, founder of Batterymarch Financial Management and president of Virtualquest, who criticized financial analysts and independent directors for their roles in recent corporate scandals; and
• Charles Ellis, founder of Greenwich Associates and now chairman of Investors Education, who reminded attendees that the keys to winning at investing are playing your own game and not taking major losses.
Other contributors included: Keith Ambachtsheer, president of KPA Advisory Services; economic consultant and historian Peter L. Bernstein; Abby Joseph Cohen, partner at Goldman Sachs; Martin Leibowitz, managing director of Morgan Stanley, U.S. equities strategies; and Gary P. Brinson, president of GP Brinson Investments.
