Inspirational Quotations

Inspirational Quotes by Peter L. Bernstein (American Economist, Author)

Peter Lewyn Bernstein (1919–2009) was an American financial historian, economist, and educator. A celebrated authority in popularizing and presenting investment economics to the general public, he expanded and refined the efficient-market hypothesis.

Born in New York City, Bernstein studied economics at Harvard and served in the Federal Reserve Bank of New York’s research staff. During World War II, he worked at the Office of Strategic Services in Washington and later joined the Air Force, rising to the rank of captain.

After the war, Bernstein taught economics at Williams College in Williamstown, Massachusetts, and worked in commercial banking before taking over leadership of his father’s wealth management firm.

A financial journalist, Bernstein wrote numerous articles for Harvard Business Review and Financial Analysts Journal and in the popular press. He also served as the first editor of The Journal of Portfolio Management, a popular scholarly financial publication for investment managers and academics.

Bernstein authored ten books on economics and finance, including A Primer on Money, Banking, and Gold (1965) and Capital Ideas: The Improbable Origins of Modern Wall Street (1992.) His treatise on risk management and financial markets, Against the Gods: The Remarkable Story of Risk (1996,) sold over 500,000 copies worldwide.

More: Wikipedia READ: Works by Peter L. Bernstein

The essence of risk management lies in maximizing the areas where we have some control over the outcome while minimizing the areas where we have absolutely no control over the outcome and the linkage between effect and cause is hidden from us.
Peter L. Bernstein
Topics: Risk

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