Modern Portfolio Theory and the Economics of Liability

D. Lee Heavner - Headshot

D. Lee Heavner

Managing Principal, Los Angeles

I led the portfolio theory team that supported our expert Glenn Hubbard in his review of the management of the Alliance Capital portfolio. We showed that ACM managed the portfolio in a manner consistent with its historical practice and that its strategy had generated over $1 billion in returns above the benchmark during ACM’s tenure as portfolio manager for FSBA.
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