Martin L. Leibowitz is a financial researcher, business leader, and a managing director of Morgan Stanley.[1][2] His most well-known work is Inside the Yield Book.
Before joining Morgan Stanley, Leibowitz was vice chairman and chief investment officer of TIAA-CREF from 1995 to 2004. Previously he had worked for 26 years for Salomon Brothers, rising to become its managing director in charge of research.[3][4] He is also a member of the Board of Trustees of the Institute for Advanced Study.[5] In April 2009 he was named adviser to the board of directors to Singapore's sovereign fund. In March 2012, he was appointed to The Rockefeller Foundation's board of trustees.[6]
Leibowitz has authored several books and more than 150 articles, 10 of which have received the Financial Analysts Journal's Graham and Dodd Award of Excellence.[7] His Inside the Yield Book (co-authored with Sidney Homer), first published in 1972 and reissued in 2004, is a work which, according to Frank Fabozzi, "transformed the markets’ understanding of bonds."[8] He was instrumental in developing the dedicated portfolio theory in the 1980s.
Leibowitz is also the recipient of the following CFA Institute Awards: the Nicholas Molodovsky Award in 1995, the James R. Vertin Award in 1998, and the Award for Professional Excellence in 2005.[9] In 1995, he was the first person inducted into the Fixed Income Analysts Society Hall of Fame.[4]
Leibowitz holds both a bachelor's and master's degree from the University of Chicago and a Ph.D. in mathematics from the Courant InstituteofNew York University.[10]