Jeremy Siegel
Encyclopedia
Jeremy James Siegel 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.
, 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 fund
s, and as of early 2007 owns a 2% share of the $700 million market capitalization 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.
interview in May 2000 when asked about the stock market, he replied:
Wharton School of the University of Pennsylvania
The Wharton School is the business school of the University of Pennsylvania, an Ivy League university in Philadelphia, Pennsylvania. Wharton was the world’s first collegiate business school and the first business school in the United States...
of the University of Pennsylvania
University of Pennsylvania
The University of Pennsylvania is a private, Ivy League university located in Philadelphia, Pennsylvania, United States. Penn is the fourth-oldest institution of higher education in the United States,Penn is the fourth-oldest using the founding dates claimed by each institution...
in Philadelphia, Pennsylvania
Philadelphia, Pennsylvania
Philadelphia is the largest city in the Commonwealth of Pennsylvania and the county seat of Philadelphia County, with which it is coterminous. The city is located in the Northeastern United States along the Delaware and Schuylkill rivers. It is the fifth-most-populous city in the United States,...
. Siegel comments extensively on the economy and financial markets: he appears regularly on networks such CNN
CNN
Cable News Network is a U.S. cable news channel founded in 1980 by Ted Turner. Upon its launch, CNN was the first channel to provide 24-hour television news coverage, and the first all-news television channel in the United States...
, CNBC
CNBC
CNBC is a satellite and cable television business news channel in the U.S., owned and operated by NBCUniversal. The network and its international spinoffs cover business headlines and provide live coverage of financial markets. The combined reach of CNBC and its siblings is 390 million viewers...
and NPR
NPR
NPR, formerly National Public Radio, is a privately and publicly funded non-profit membership media organization that serves as a national syndicator to a network of 900 public radio stations in the United States. NPR was created in 1970, following congressional passage of the Public Broadcasting...
, and writes regular columns for Kiplinger's Personal Finance
Kiplinger's Personal Finance
Kiplinger's Personal Finance is a magazine that has been continuously published, on a monthly basis, from 1947 to the present day. It was the nation's first personal finance magazine, and claims to deliver "sound, unbiased advice in clear, concise language"...
and Yahoo!
Yahoo!
Yahoo! Inc. is an American multinational internet corporation headquartered in Sunnyvale, California, United States. The company is perhaps best known for its web portal, search engine , Yahoo! Directory, Yahoo! Mail, Yahoo! News, Yahoo! Groups, Yahoo! Answers, advertising, online mapping ,...
Finance.
Biography
Siegel was born in ChicagoChicago
Chicago is the largest city in the US state of Illinois. With nearly 2.7 million residents, it is the most populous city in the Midwestern United States and the third most populous in the US, after New York City and Los Angeles...
, Illinois
Illinois
Illinois is the fifth-most populous state of the United States of America, and is often noted for being a microcosm of the entire country. With Chicago in the northeast, small industrial cities and great agricultural productivity in central and northern Illinois, and natural resources like coal,...
, and graduated from Highland Park High School. He majored in mathematics and economics as an undergraduate at Columbia University
Columbia University
Columbia University in the City of New York is a private, Ivy League university in Manhattan, New York City. Columbia is the oldest institution of higher learning in the state of New York, the fifth oldest in the United States, and one of the country's nine Colonial Colleges founded before the...
and obtained a Ph.D. from MIT
Massachusetts Institute of Technology
The Massachusetts Institute of Technology is a private research university located in Cambridge, Massachusetts. MIT has five schools and one college, containing a total of 32 academic departments, with a strong emphasis on scientific and technological education and research.Founded in 1861 in...
in 1971. He is currently an advisor to WisdomTree Investments, a sponsor of exchange-traded fund
Exchange-traded fund
An exchange-traded fund is an investment fund traded on stock exchanges, much like stocks. An ETF holds assets such as stocks, commodities, or bonds, and trades close to its net asset value over the course of the trading day. Most ETFs track an index, such as the S&P 500 or MSCI EAFE...
s, and as of early 2007 owns a 2% share of the $700 million market capitalization company.
TV programs
He has been a frequent guest on the business TV program Kudlow & CompanyKudlow & Company
The Kudlow Report is a news television program about business and politics hosted by Lawrence Kudlow, that airs on the CNBC television channel at 7pm ET. The show began airing on January 26, 2009. It is a successor to Kudlow & Company, which aired from 2005 until October 2008...
on CNBC
CNBC
CNBC is a satellite and cable television business news channel in the U.S., owned and operated by NBCUniversal. The network and its international spinoffs cover business headlines and provide live coverage of financial markets. The combined reach of CNBC and its siblings is 390 million viewers...
, where supply-side economics
Supply-side economics
Supply-side economics is a school of macroeconomic thought that argues that economic growth can be most effectively created by lowering barriers for people to produce goods and services, such as lowering income tax and capital gains tax rates, and by allowing greater flexibility by reducing...
fan Lawrence Kudlow
Lawrence Kudlow
Lawrence "Larry" Kudlow is an American economist, television personality, and newspaper columnist. He is the host of CNBC's The Kudlow Report. As a syndicated columnist, his articles appear in numerous U.S. newspapers and web sites, including his own blog, Kudlow's Money Politic$.-Early...
hosts. He is a supply-sider like Kudlow. Siegel is also a lifelong friend of Robert Shiller
Robert Shiller
Robert James "Bob" Shiller is an American economist, academic, and best-selling author. He currently serves as the Arthur M. Okun Professor of Economics at Yale University and is a Fellow at the Yale International Center for Finance, Yale School of Management...
, an economist at the Yale School of Management
Yale School of Management
The Yale School of Management is the graduate business school of Yale University and is located on Hillhouse Avenue in New Haven, Connecticut, United States. The School offers Master of Business Administration and Ph.D. degree programs. As of January 2011, 454 students were enrolled in its MBA...
, 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 BusinessWeekBusinessWeek
Bloomberg Businessweek, commonly and formerly known as BusinessWeek, is a weekly business magazine published by Bloomberg L.P. It is currently headquartered in New York City.- History :...
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.
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 RunStocks for the Long RunStocks for the Long Run is a book on investing by Jeremy Siegel. Its first edition was released in 1994. Its fourth edition was released on November 27, 2007...
: 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).
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"