Jeremy Siegel - Biography

Jeremy James Siegel (born November 14, 1945) is the Russell E. Palmer Professor of Finance at the Wharton School of the University of Pennsylvania in Philadelphia, Pennsylvania. Siegel comments extensively on the economy and financial markets: he appears regularly on networks such CNN, CNBC and NPR, and writes regular columns for Kiplinger's Personal Finance and Yahoo! Finance.

Biography

Siegel was born in Chicago, Illinois, and graduated from Highland Park High School. He majored in mathematics and economics as an undergraduate at Columbia University and obtained a Ph.D. from MIT in 1971. He is currently an advisor to WisdomTree Investments, a sponsor of exchange-traded funds, and as of early 2007 owns a 2% share of the $700 million market capitalization company.

TV programs

He has been a frequent guest on the business TV program Kudlow & Company on CNBC, where supply-side economics fan Lawrence Kudlow hosts. He is a supply-sider like Kudlow. Siegel is also a lifelong friend of Robert Shiller, an economist at the Yale School of Management, whom Siegel has known since their MIT graduate school days. Siegel and Shiller have frequently debated each other on TV about the stock market and its future returns, and have become financial media celebrities, regularly appearing on CNBC.

Criticisms

Some have criticized Professor Siegel for being bullish on the stock market back in 2000. In a BusinessWeek interview in May 2000 when asked about the stock market, he replied:

Seven percent per year [average] real returns on stocks is what I find over nearly two centuries. I don't see persuasive reasons why it should be any different from that over the intermediate run. In the short run, it could be almost anything.

Bibliography

Authored or co-authored

• The Future for Investors : Why the Tried and the True Triumph Over the Bold and the New (2005). The motto of the book is how to avoid losing money in a bubble:
  • Valuations are critical.
  • Never fall in love with your stocks.
  • Beware of large, little-known companies.
  • Avoid triple-digit price-to-earnings (P/E) ratios.
  • Never short sell in a bubble.
• Stocks for the Long Run: The Definitive Guide to Financial Market Returns and Long-Term Investment Strategies by Jeremy Siegel, McGraw-Hill (1994), ISBN 0071494707.
• Revolution on Wall Street: The Rise and Decline of the New York Stock Exchange (1993).

Notes

External links

• JeremySiegel.com where the "Wizard of Wharton" weighs in on the markets, the economy and investment strategies.
• Bloomberg Article: "The Shiller & Siegel Show"
• EricTyson.com Summary of global investing perspectives in "Stocks for the Long Run"