Harry M. Markowitz, William F. Sharpe and Eugene F. Fama — all Nobel laureates in economics — are among the inductees into the Performance and Risk Measurement Hall of Fame.
Among the other inductees is David Spaulding, founder of the hall of fame, which got underway last year.
Mr. Spaulding, CEO of The Spaulding Group, a Somerset, N.J.-based firm whose focus includes portfolio performance measurement verification services, said in an e-mail, “I initially objected” when his name was put forward, “feeling it was inappropriate as well as potentially embarrassing. ... In addition, I felt that if someone thought I should be included, so be it.”
Others inductees are:
- Gary P. Brinson, renowned in institutional investment management and founder and chairman of the $101 million Brinson Foundation and president of GP Brinson Investments, both based in Chicago;
- Jack L. Treynor, president of Treynor Capital Management Inc. and a pioneer in financial theory and practice;
- Jose Menchero, managing director and head of portfolio analytics applied research at MSCI Inc.; and
- Peter O. Dietz, the late consultant with Frank Russell Co., now known as Russell Investment Management Co., who broke new ground with his work on pension fund investment performance measurement.
Honorees are selected “based on their contributions to performance and risk measurement,” Mr. Spaulding said.
In setting up the hall of fame, “we felt it was important to recognize individuals who have made significant contributions to the industry,” Mr. Spaulding said. “Given our role and prominence, we though it would be fitting that the award come from us.”
Nominations are open to anyone.
The Spaulding-owned Journal of Performance Measurement's advisory board — whose 34 members include Mr. Menchero but no one from the Spaulding firm — selects inductees.
Don't look for a Cooperstown to visit for this hall of fame. The names in the hall are enshrined in crystals honorees receive. “We have not yet gotten a (crystal) for all names, but plan to,” Mr. Spaulding said.
