Founders

Bruce I. Jacobs
Co-chief Investment Officer,
Portfolio Manager, and Co-director of Research
Kenneth N. Levy
Co-chief Investment Officer,
Portfolio Manager, and Co-director of Research
BRUCE I. JACOBS, Principal, co-founded Jacobs Levy Equity Management in 1986. He is co-chief investment officer, portfolio manager, and co-director of research. Dr. Jacobs's articles on equity management have appeared in the Financial Analysts Journal, Journal of Portfolio Management, Journal of Investing, Journal of Financial Perspectives, Japanese Security Analysts Journal, and Operations Research. He has received several Graham and Dodd Awards from Financial Analysts Journal, a Bernstein Fabozzi/Jacobs Levy Award from the Journal of Portfolio Management, and an Outstanding Article Award from the Journal of Investing.

Dr. Jacobs is author of Capital Ideas and Market Realities: Option Replication, Investor Behavior, and Stock Market Crashes (Blackwell), co-author with Ken Levy of Equity Management: Quantitative Analysis for Stock Selection (McGraw-Hill and a Chinese translation) and Equity Management: The Art and Science of Modern Quantitative Investing, 2nd ed. (McGraw-Hill), co-editor with Ken Levy of Market Neutral Strategies (Wiley), and co-editor of The Bernstein Fabozzi/Jacobs Levy Awards: Five Years of Award-Winning Articles from The Journal of Portfolio Management, Volumes One through Three (Institutional Investor). He was a featured contributor to How I Became a Quant: Insights from 25 of Wall Street's Elite (Wiley). Dr. Jacobs has spoken at many forums, including the Institute for Quantitative Research in Finance, Berkeley Program in Finance, CFA Institute, Rutgers University, Society of Quantitative Analysts, and New York Society of Security Analysts, and he has given a Financial Analysts Journal Media Seminar and presented at conferences for Goldman Sachs and Morgan Stanley.

Formerly he was First Vice President of the Prudential Insurance Company of America, where he served as Senior Managing Director of a quantitative equity management affiliate of the Prudential Asset Management Company and Managing Director of the Pension Asset Management Group. Prior to that, he was on the finance faculty of the University of Pennsylvania's Wharton School and consulted to the Rand Corporation.

Dr. Jacobs has a B.A. from Columbia College, an M.S. in Operations Research and Computer Science from Columbia University's School of Engineering and Applied Science, an M.S.I.A. from Carnegie Mellon University's Graduate School of Industrial Administration, and an M.A. in Applied Economics and a Ph.D. in Finance from the Wharton School. He is an Associate Editor of the Journal of Trading and serves on the Journal of Portfolio Management Advisory Board and has served on the Financial Analysts Journal Advisory Council. Dr. Jacobs also served on the Committee to Establish the National Institute of Finance and was a member of its successor, the Office of Financial Research Discussion Forum. He is Chair of the Advisory Board of the Jacobs Levy Equity Management Center for Quantitative Financial Research at the Wharton School.

Read more about Bruce’s and Ken’s paths to becoming quants in How I Became a Quant: Insights from 25 of Wall Street’s Elite. view article
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KENNETH N. LEVY, Principal, co-founded Jacobs Levy Equity Management in 1986. He is co-chief investment officer, portfolio manager, and co-director of research. His articles on equity management have appeared in the Financial Analysts Journal, Journal of Portfolio Management, Journal of Investing, Journal of Financial Perspectives, Japanese Security Analysts Journal, and Operations Research. He has received several Graham and Dodd Awards from Financial Analysts Journal and a Bernstein Fabozzi/Jacobs Levy Award from the Journal of Portfolio Management.

Ken Levy is co-author with Bruce Jacobs of Equity Management: Quantitative Analysis for Stock Selection (McGraw-Hill and a Chinese translation) and Equity Management: The Art and Science of Modern Quantitative Investing, 2nd ed. (McGraw-Hill), co-editor with Bruce Jacobs of Market Neutral Strategies (Wiley), and co-editor of The Bernstein Fabozzi/Jacobs Levy Awards: Five Years of Award-Winning Articles from The Journal of Portfolio Management, Volumes One through Three (Institutional Investor). He was a featured contributor to How I Became a Quant: Insights from 25 of Wall Street's Elite (Wiley). Ken has lectured at the Wharton School and spoken at various forums, including the Institute for Quantitative Research in Finance, Berkeley Program in Finance, CFA Institute, Rutgers University, Society of Quantitative Analysts, and Corporate Earnings Analysis Seminar.

Formerly he was Managing Director of a quantitative equity management affiliate of the Prudential Asset Management Company. Prior to that, he was responsible for quantitative research at Prudential Equity Management Associates.

Ken has a B.A. in Economics from Cornell University, an M.B.A. and an M.A. in Business Economics from the University of Pennsylvania's Wharton School, and completed all requirements short of the dissertation for a Ph.D. at Wharton. He is a CFA charterholder and has served on the CFA Candidate Curriculum Committee, POSIT Advisory Board, and the investment board of a community foundation. Ken is on the Advisory Board of the Jacobs Levy Equity Management Center for Quantitative Financial Research at the Wharton School.

Read more about Bruce’s and Ken’s paths to becoming quants in How I Became a Quant: Insights from 25 of Wall Street’s Elite. view article
close bio —
Bruce I. Jacobs
Co-chief Investment Officer,
Portfolio Manager, and Co-director of Research
BRUCE I. JACOBS, Principal, co-founded Jacobs Levy Equity Management in 1986. He is co-chief investment officer, portfolio manager, and co-director of research. Dr. Jacobs's articles on equity management have appeared in the Financial Analysts Journal, Journal of Portfolio Management, Journal of Investing, Journal of Financial Perspectives, Japanese Security Analysts Journal, and Operations Research. He has received several Graham and Dodd Awards from Financial Analysts Journal, a Bernstein Fabozzi/Jacobs Levy Award from the Journal of Portfolio Management, and an Outstanding Article Award from the Journal of Investing.

Dr. Jacobs is author of Capital Ideas and Market Realities: Option Replication, Investor Behavior, and Stock Market Crashes (Blackwell), co-author with Ken Levy of Equity Management: Quantitative Analysis for Stock Selection (McGraw-Hill and a Chinese translation) and Equity Management: The Art and Science of Modern Quantitative Investing, 2nd ed. (McGraw-Hill), co-editor with Ken Levy of Market Neutral Strategies (Wiley), and co-editor of The Bernstein Fabozzi/Jacobs Levy Awards: Five Years of Award-Winning Articles from The Journal of Portfolio Management, Volumes One through Three (Institutional Investor). He was a featured contributor to How I Became a Quant: Insights from 25 of Wall Street's Elite (Wiley). Dr. Jacobs has spoken at many forums, including the Institute for Quantitative Research in Finance, Berkeley Program in Finance, CFA Institute, Rutgers University, Society of Quantitative Analysts, and New York Society of Security Analysts, and he has given a Financial Analysts Journal Media Seminar and presented at conferences for Goldman Sachs and Morgan Stanley.

Formerly he was First Vice President of the Prudential Insurance Company of America, where he served as Senior Managing Director of a quantitative equity management affiliate of the Prudential Asset Management Company and Managing Director of the Pension Asset Management Group. Prior to that, he was on the finance faculty of the University of Pennsylvania's Wharton School and consulted to the Rand Corporation.

Dr. Jacobs has a B.A. from Columbia College, an M.S. in Operations Research and Computer Science from Columbia University's School of Engineering and Applied Science, an M.S.I.A. from Carnegie Mellon University's Graduate School of Industrial Administration, and an M.A. in Applied Economics and a Ph.D. in Finance from the Wharton School. He is an Associate Editor of the Journal of Trading and serves on the Journal of Portfolio Management Advisory Board and has served on the Financial Analysts Journal Advisory Council. Dr. Jacobs also served on the Committee to Establish the National Institute of Finance and was a member of its successor, the Office of Financial Research Discussion Forum. He is Chair of the Advisory Board of the Jacobs Levy Equity Management Center for Quantitative Financial Research at the Wharton School.

Read more about Bruce’s and Ken’s paths to becoming quants in How I Became a Quant: Insights from 25 of Wall Street’s Elite. view article
close bio —
Kenneth N. Levy
Co-chief Investment Officer,
Portfolio Manager, and Co-director of Research
KENNETH N. LEVY, Principal, co-founded Jacobs Levy Equity Management in 1986. He is co-chief investment officer, portfolio manager, and co-director of research. His articles on equity management have appeared in the Financial Analysts Journal, Journal of Portfolio Management, Journal of Investing, Journal of Financial Perspectives, Japanese Security Analysts Journal, and Operations Research. He has received several Graham and Dodd Awards from Financial Analysts Journal and a Bernstein Fabozzi/Jacobs Levy Award from the Journal of Portfolio Management.

Ken Levy is co-author with Bruce Jacobs of Equity Management: Quantitative Analysis for Stock Selection (McGraw-Hill and a Chinese translation) and Equity Management: The Art and Science of Modern Quantitative Investing, 2nd ed. (McGraw-Hill), co-editor with Bruce Jacobs of Market Neutral Strategies (Wiley), and co-editor of The Bernstein Fabozzi/Jacobs Levy Awards: Five Years of Award-Winning Articles from The Journal of Portfolio Management, Volumes One through Three (Institutional Investor). He was a featured contributor to How I Became a Quant: Insights from 25 of Wall Street's Elite (Wiley). Ken has lectured at the Wharton School and spoken at various forums, including the Institute for Quantitative Research in Finance, Berkeley Program in Finance, CFA Institute, Rutgers University, Society of Quantitative Analysts, and Corporate Earnings Analysis Seminar.

Formerly he was Managing Director of a quantitative equity management affiliate of the Prudential Asset Management Company. Prior to that, he was responsible for quantitative research at Prudential Equity Management Associates.

Ken has a B.A. in Economics from Cornell University, an M.B.A. and an M.A. in Business Economics from the University of Pennsylvania's Wharton School, and completed all requirements short of the dissertation for a Ph.D. at Wharton. He is a CFA charterholder and has served on the CFA Candidate Curriculum Committee, POSIT Advisory Board, and the investment board of a community foundation. Ken is on the Advisory Board of the Jacobs Levy Equity Management Center for Quantitative Financial Research at the Wharton School.

Read more about Bruce’s and Ken’s paths to becoming quants in How I Became a Quant: Insights from 25 of Wall Street’s Elite. view article
close bio —

Our Firm

Commitment to Innovative Equity Research
Our objective is to achieve consistent outperformanceread more
Groundbreaking Concepts
We introduced such concepts as the unique risks of leverage and leverage aversion into portfolio theoryread more
Critically Acclaimed Insights
Our research, at the intersection of theory and practice, offers forward-thinking, industry insiders' viewsread more
Giving Forward
We contribute to the advancement of quantitative finance by fostering innovative research read more

Commitment to Innovative Equity Research

Our objective is to achieve consistent outperformance

Prior to accepting assets in 1990, Bruce Jacobs and Ken Levy devoted over three years to researching market inefficiencies and analyzing the complex economic and behavioral factors underlying security returns. As part of this endeavor, they pioneered a proprietary process of “disentangling,” which evaluates numerous proprietary factors simultaneously, separating each potential source of return from the background noise created by other factors. This controls for cross-contamination of effects and results in "pure" return effects that are additive and can be more predictive than the estimates from simple single-factor analyses.

The revolutionary findings resulting from this research led to the development of a unique multidimensional, dynamic approach to investing. Refined by over 30 years of research and experience, this approach allows for diversified portfolios across exposures to numerous potential opportunities, which can contribute to consistency of performance over time.

Groundbreaking Concepts

Introduced such concepts as the unique risks of leverage and leverage aversion into portfolio theory

The groundbreaking concepts that form the foundation of Jacobs and Levy’s investment philosophy and approach are articulated in numerous articles, which have received awards from the Financial Analysts Journal, Journal of Portfolio Management, and Journal of Investing. Many have become required reading for the CFA program and MBA courses.

Equity Management: The Art and Science of Modern Quantitative Investing, 2nd ed., published by McGraw-Hill, with a foreword by Nobel laureate Harry M. Markowitz, brings together 30 years of groundbreaking articles by Jacobs and Levy.

Equity Management contains what Harry Markowitz has called their seminal work on disentangling and integrated long-short portfolios, as well as articles about the growing popularity of factor investing, 130-30 long-short portfolios, portfolio optimization with short sales, optimizing portfolios for leverage-averse investors, market fragility and financial crises, and simulating security markets. The first edition of the book, Equity Management: Quantitative Analysis for Stock Selection, was translated into Chinese by China Machine Press.

Critically Acclaimed Insights

Research, at the intersection of theory and practice, offers forward-thinking, industry insiders' views

Bruce Jacobs and Ken Levy are the editors of Market Neutral Strategies, published by Wiley. This book provides industry insiders’ views of the implementation, risks, and benefits of long-short equity investing and other strategies.

How I Became a Quant: Insights from 25 of Wall Street’s Elite, also published by Wiley, profiles investment professionals at the forefront of the “quant revolution.” Jacobs and Levy contributed a chapter detailing the development of the firm and the Jacobs Levy investment philosophy.

Bruce Jacobs’s incisive analysis of modern capital ideas is evident in his critically acclaimed book, Capital Ideas and Market Realities, published by Blackwell. This work discusses the pitfalls of translating financial ideas into practice.

Giving Forward

Contributing to the advancement of quantitative finance by fostering innovative research

Jacobs Levy Equity Management was a founding sponsor of the Research Foundation of the CFA Institute and of the Fischer Black Memorial Foundation.

In 1998, the firm founded the Bernstein Fabozzi/Jacobs Levy Awards to promote research excellence in the theory and practice of portfolio management, which annually recognize the best papers appearing in the Journal of Portfolio Management.

In 2011, in honor of the firm’s 25th anniversary, Jacobs and Levy founded the Jacobs Levy Equity Management Center for Quantitative Financial Research at The Wharton School and the Wharton-Jacobs Levy Prize for Quantitative Financial Innovation. The Jacobs Levy Equity Management Center for Quantitative Financial Research is dedicated to the advancement of quantitative finance through the creation and dissemination of innovative knowledge. The Center also grants the biennial Wharton-Jacobs Levy Prize for Quantitative Financial Innovation to recognize those who have published articles that demonstrate outstanding quantitative research that have contributed to an innovation in the practice of finance.

Academic Engagement

In September 2011, in honor of Jacobs Levy Equity Management’s 25th anniversary, Bruce Jacobs and Ken Levy founded the Jacobs Levy Equity Management Center for Quantitative Financial Research at The Wharton School and the Wharton-Jacobs Levy Prize for Quantitative Financial Innovation.

Mission Statement

The Jacobs Levy Equity Management Center for Quantitative Financial Research is dedicated to the advancement of quantitative finance, at the intersection of theory and practice, through the creation and dissemination of innovative knowledge. The Jacobs Levy Center aims to enhance understanding of financial markets through the application of quantitative and statistical techniques and methods to such fields as asset management and security pricing, including the analysis of stocks, bonds and other instruments.

Wharton-Jacobs Levy Prize for Quantitative Financial Innovation

The Jacobs Levy Center also grants the biennial Wharton-Jacobs Levy Prize for Quantitative Financial Innovation to recognize one or more persons who have published peer-reviewed journal articles that demonstrate outstanding quantitative research that has contributed to a particular innovation in the practice of finance.

https://www.youtube.com/embed/OR26wfjBM5Y
Center Inauguration                                                                                          
Jacobs Levy Equity Management Center for Quantitative Financial Research
The Wharton School
September 7, 2011

Pictured (l-r): Dean Thomas, Bruce Jacobs, Ken Levy, Amy Gutmann
Center Inauguration – Jacobs Levy Equity Management Center for Quantitative Financial Research, September 7, 2011
https://www.youtube.com/embed/0k0kHw97Tv4
Highlights from the First Annual Jacobs Levy Center Conference and Presentation of the Wharton-Jacobs Levy Prize to Harry M. Markowitz
Jacobs Levy Equity Management Center for Quantitative Financial Research
Forum on Quantitative Finance
New York, NY
October 23, 2013
Highlights from the First Annual Jacobs Levy Center Conference and Presentation of the Wharton-Jacobs Levy Prize to Harry M. Markowitz, October 23, 2013
https://www.youtube.com/embed/Prs15tbCnMI
Leverage Aversion – A Third Dimension in Portfolio Theory
Bruce Jacobs and Ken Levy’s Keynote Presentation
Jacobs Levy Equity Management Center for Quantitative Financial Research
Forum on Quantitative Finance
New York, NY
October 23, 2013

“We've seen that there have been many catastrophes caused by excessive leverage, and that excessive leverage can give rise to systemic risk, market disruptions and economic crises.” — Bruce

“Just as investors are willing to sacrifice some return in order to reduce volatility risk, investors are willing to sacrifice some return in order to reduce leverage risk.” — Ken
Bruce Jacobs and Ken Levy’s Keynote Presentation – Leverage Aversion – A Third Dimension in Portfolio Theory, October 23, 2013
https://www.youtube.com/embed/Ge2i_3Pg3Hg
Presentation of the Wharton-Jacobs Levy Prize to Harry Markowitz
Jacobs Levy Equity Management Center for Quantitative Financial Research
Forum on Quantitative Finance
New York, NY
October 23, 2013
Presentation of the Wharton-Jacobs Levy Prize to Harry Markowitz, October 23, 2013
https://www.youtube.com/embed/Mww6_1-Z-6Y
Highlights from the Second Annual Jacobs Levy Center Conference
Jacobs Levy Equity Management Center for Quantitative Financial Research
Conference on Quantitative Finance
The Wharton School
April 25, 2014
Highlights from the Second Annual Jacobs Levy Center Conference, April 25, 2014
https://www.youtube.com/embed/EwQyNRuLEnU
Bruce Jacobs Panelist – Is Smart Beta State of the Art?
Bruce Jacobs, Jacobs Levy Equity Management
Vitali Kalesnik, Research Affiliates
Jeremy Schwartz, WisdomTree Investments
Moderator: Thomas Mitchell, Marco Consulting
Jacobs Levy Equity Management Center for Quantitative Financial Research
Spring Forum
New York, NY
May 1, 2015
Bruce Jacobs Panelist – Is Smart Beta State of the Art?, May 1, 2015
https://www.youtube.com/embed/_9Iwvo-1bIg
Presentation of the Wharton-Jacobs Levy Prize to Bill Sharpe
Jacobs Levy Equity Management Center for Quantitative Financial Research
Spring Forum
New York, NY
May 20, 2016
Presentation of the Wharton-Jacobs Levy Prize to Bill Sharpe, May 20, 2016
Jacobs Levy Center News & Events
Sep 15, 2017

Wharton-Jacobs Levy Prize for Quantitative Financial Innovation to be Awarded to the Late Stephen A. Ross at 2017 Fall Conference

The 2017 Wharton-Jacobs Levy Prize for Quantitative Financial Innovation will be awarded to the late Stephen A. Ross at the Jacobs Levy Center's fall conference on September 15, 2017 in New York. He will be recognized for his work in the area of multi-factor asset pricing, memorialized in his 1976 Journal of Economic Theory paper “The Arbitrage Theory of Capital Asset Pricing.”

read more

The Bernstein Fabozzi/Jacobs Levy Awards were established in 1999, on the 25th anniversary of the Journal of Portfolio Management, to honor Editors Peter Bernstein and Frank Fabozzi for their extraordinary contributions and to promote research excellence in the theory and practice of portfolio management.

The Bernstein Fabozzi/Jacobs Levy Awards: Five Years of Award-Winning Articles from the Journal of Portfolio Management, Volumes One, Two, and Three.

The Journal of Portfolio Management Five years of award-winning articles View a tribute to Peter Bernstein from Volume Two Announcement of the Awards

The First Annual Bernstein Fabozzi/Jacobs Levy Awards

The Bernstein Fabozzi/Jacobs Levy Award honors the Editors’ 25 years of extraordinary contributions and promotes research excellence in the theory and practice of portfolio management. The annual awards, generously funded by Jacobs Levy Equity Management, consists of a $2,500 prize for Best Article and $1,000 prizes for each of three Outstanding Articles.

The Journal of Portfolio Management is pleased to announce the recipients of the First Annual Bernstein Fabozzi/Jacobs Levy Awards for articles appearing in the sequence of four issues beginning with Fall 1998 and ending with Summer 1999. As several articles tied for third outstanding award, there are two outstanding article awards granted this year. On the basis of voting by subscribers, the First Annual Bernstein Fabozzi/Jacobs Levy Awards are presented to:

Best Article:

Why Do Valuation Rations Forecast Long-Run Equity Returns?
Thomas K. Philips, Spring 1999

Outstanding Articles:

Long-Short Portfolio Management: An Integrated Approach
Bruce I. Jacobs, Kenneth N. Levy, and David Starer, Winter 1999

The History of Finance
Merton H. Miller, Summer 1999


Additional Bernstein Fabozzi/Jacobs Levy Awards:

The Second Annual Bernstein Fabozzi/Jacobs Levy Awards

The Bernstein Fabozzi/Jacobs Levy Award honors the Editors’ 25 years of extraordinary contributions and promotes research excellence in the theory and practice of portfolio management. The annual awards, generously funded by Jacobs Levy Equity Management, consists of a $2,500 prize for Best Article and $1,000 prizes for each of three Outstanding Articles.

The Journal of Portfolio Management is pleased to announce the recipients of the Second Annual Bernstein Fabozzi/Jacobs Levy Awards for articles appearing in the sequence of four issues beinning with Fall 1999 and ending with Summer 2000. Due to a tie vote, there are four outstanding article awards granted this year. On the basis of voting by subscribers, the Second Annual Bernstein Fabozzi/Jacobs Levy Awards are presented to:

Best Article:

The Shrinking Equity Premium
Jeremy J. Siegel, Fall 1999

Outstanding Articles:

Performance Evaluation Using Conditional Alphas and Betas
Jon A. Christopherson, Wayne E. Ferson, and Andrew L. Turner, Fall 1999

The Investor Fear Gauge
Robert E. Whaley, Spring 2000

Optimizing Manager Structure and Budgeting Manager Risk
Barton Waring, Duane Whitney, John Pirone, and Charles Castille, Spring 2000

Beating Benchmarks
Steven Strongin, Melanie Petsch, and Greg Sharenow, Summer 2000


Additional Bernstein Fabozzi/Jacobs Levy Awards:

The Third Annual Bernstein Fabozzi/Jacobs Levy Awards

The Bernstein Fabozzi/Jacobs Levy Award honors the Editors’ 25 years of extraordinary contributions and promotes research excellence in the theory and practice of portfolio management. The annual awards, generously funded by Jacobs Levy Equity Management, consists of a $2,500 prize for Best Article and $1,000 prizes for each of three Outstanding Articles.

The Journal of Portfolio Managment is pleased to announce the recipients of the Third Annual Bernstein Fabozzi/Jacobs Levy Awards for articles appearing in the sequence of four issues beginning with Fall 2000 and ending with Summer 2001. Due to a tie vote, there are four outstanding articles awards granted this year. On the basis of voting by a selected panel, the Third Annual Bernstein Fabozzi/Jacobs Levy Awards are presented to:

Best Article:

The Growth of Index Funds and the Pricing of Equity Securities
Burton G. Malkiel and Aleksander Radisich, Winter 2001

Outstanding Articles:

Value of Skill in Security Selection versus Asset Allocation in Credit Markets
Lev Dynkin, Jay Hyman, and Wei Wu, Fall 2000

Cognitive Biases in Market Forecasts
Kenneth L. Fisher and Meir Statman, Fall 2000

Why the Low Returns to Beta and Other Forms of Risk
Edward M. Miller, Winter 2001
 
The Death of the Risk Premium
Robert D. Arnott and Ronald J. Ryan, Spring 2001


Additional Bernstein Fabozzi/Jacobs Levy Awards:

The Fourth Annual Bernstein Fabozzi/Jacobs Levy Awards

The Bernstein Fabozzi/Jacobs Levy Award honors the Editors’ 25 years of extraordinary contributions and promotes research excellence in the theory and practice of portfolio management.  The annual awards, generously funded by Jacobs Levy Equity Management, consists of a $2,500 prize for Best Article and $1,000 prizes for each of three Outstanding Articles.

The Journal of Portfolio Management is pleased to announce the recipients of the Fourth Annual Bernstein Fabozzi/Jacobs Levy Awards for articles appearing in the sequence of four issues beginning with Fall 2001 and ending with Summer 2002. On the basis of voting by a selected panel,* the Fourth Annual Bernstein Fabozzi/Jacobs Levy Awards are presented to:

Best Article:

Do Hedge Funds Hedge?
Clifford S. Asness, Robert J. Krail, and John M. Liew, Fall 2001

Outstanding Articles:

Equity Index Funds Have Lost Their Way
Gary L. Gastineau, Winter 2002

The Small-Cap Alpha Myth
Richard M. Ennis and Michael D. Sebastian, Spring 2002

Informationless Investing and Hedge Fund Performance Measurement Bias
Andrew B. Weisman, Summer 2002

*The selection committee is a subset of the editorial advisory board. It excludes those boad members whose article is a candidate for the award. Frank Fabozzi, editor, and Peter Bernstein, consulting editor, are not on the selection committee. Articles authored by Frank Fabozzi or Peter Bernstein are not eligible for an award. The ballots are tallied by Institutional Investor Journals.


Additional Bernstein Fabozzi/Jacobs Levy Awards:

The Fifth Annual Bernstein Fabozzi/Jacobs Levy Awards

The Bernstein Fabozzi/Jacobs Levy Award honors the Editors’ 25 years of extraordinary contributions and promotes research excellence in the theory and practice of portfolio management. The annual awards, generously funded by Jacobs Levy Equity Management, consists of a $2,500 prize for Best Article and $1,000 prizes for each of three Outstanding Articles.

The Journal of Portfolio Management is pleased to announce the recipients of the Fifth Annual Bernstein Fabozzi/Jacobs Levy Awards for articles appearing in the sequence of four issues beginning with Fall 2002 and ending with Summer 2003. On the basis of voting by subscribers,* two articles tied for best article this year. As several articles tied for second outstanding award, there is one outstanding article award granted. The Fifth Annual Bernstein Fabozzi/Jacobs Levy Awards are presented to: 

Best Articles:
 
Expected Returns on Stocks and Bonds
Antti Ilmanen, Winter 2003

The Hierarchy of Investment Choice
Mark Kritzman and Sébastien Page, Summer 2003
 
Outstanding Article:

A Critical Look at the Case for Hedge Funds
Richard M. Ennis and Michael D. Sebastian, Summer 2003

*The ballots are tallied by Institutional Investor Journals. Articles authored by Frank Fabozzi or Peter Bernstein are not eligible for an award.


Additional Bernstein Fabozzi/Jacobs Levy Awards:

The Sixth Annual Bernstein Fabozzi/Jacobs Levy Awards

The Bernstein Fabozzi/Jacobs Levy Award was established in 1999 to honor the Editors’ 25 years of extraordinary contributions and to promote research excellence in the theory and practice of portfolio management. The annual awards, generously funded by Jacobs Levy Equity Management, consists of a $2,500 prize for Best Article and $1,000 prizes for each of three Outstanding Articles.

The Journal of Portfolio Management is pleased to announce the recipients of the Sixth Annual Bernstein Fabozzi/Jacobs Levy Awards for articles appearing in the sequence of four issues beginning with Fall 2003 and ending with Summer 2004 as well as the special Real Estate issue from September 2003. On the basis of voting by subscribers,* the Sixth Annual Bernstein Fabozzi/Jacobs Levy Awards are presented to: 

Best Article:
 
Fight the Fed Model
Clifford Asness, Fall 2003
 
Outstanding Articles:

Strategic versus Tactical Asset Allocation
Mark Anson, Winter 2004

Multiple Alpha Sources and Active Management
Eric H. Sorensen, Edward Qian, Robert Schoen, and Ronald Hua, Winter 2004

Liability-Relative Investing
M. Barton Waring, Summer 2004

*Articles authored by Frank Fabozzi or Peter Bernstein were not eligible for an award. Authors were not permitted to vote for thier own articles. The ballots were tallied by Institutional Investor Journals.


Additional Bernstein Fabozzi/Jacobs Levy Awards:

The Seventh Annual Bernstein Fabozzi/Jacobs Levy Awards

The Bernstein Fabozzi/Jacobs Levy Award was established in 1999 to honor the Editors’ 25 years of extraordinary contributions and to promote research excellence in the theory and practice of portfolio management. The annual awards, generously funded by Jacobs Levy Equity Management, consists of a $2,500 prize for Best Article and $1,000 prizes for each of three Outstanding Articles.

The Journal of Portfolio Management is pleased to announce the recipients of the Seventh Annual Bernstein Fabozzi/Jacobs Levy Awards for articles appearing in the sequence of four issues beginning with Fall 2004 and ending with Summer 2005 as well as the 30th Anniversary issue. On the basis of voting by subscribers,* the Seventh Annual Bernstein Fabozzi/Jacobs Levy Awards are presented to: 

Best Article: 

The Active Risk Puzzle
Robert Litterman, 30th Anniversary Issue
 
Outstanding Articles:

The Adaptive Markets Hypothesis
Andrew W. Lo, 30th Anniversary Issue

An Alternative Future, Part II
Clifford Asness, Fall 2004

Five Myths of Active Portfolio Management
Jonathan B. Berk, Spring 2005

*Articles authored by Frank Fabozzi or Peter Bernstein were not eligible for an award. Authors were not permitted to vote for their own articles. The ballots were tallied by Institutional Investor Journals.


Additional Bernstein Fabozzi/Jacobs Levy Awards:

The Eighth Annual Bernstein Fabozzi/Jacobs Levy Awards

The Bernstein Fabozzi/Jacobs Levy Award was established in 1999 to honor the Editors’ 25 years of extraordinary contributions and to promote research excellence in the theory and practice of portfolio management. The annual awards, generously funded by Jacobs Levy Equity Management, consists of a $2,500 prize for Best Article and $1,000 prizes for each of three Outstanding Articles.

The Journal of Portfolio Management is pleased to announce the recipients of the Eighth Annual Bernstein Fabozzi/Jacobs Levy Awards for articles appearing in the sequence of four issues beginning with Fall 2005 and ending with Summer 2006 as well as the special Real Estate issue from September 2005.  On the basis of voting by subscribers,* the Eighth Annual Bernstein Fabozzi/Jacobs Levy Awards are presented to:

Best Article:

Five Myths About Fees
Ronald N. Kahn, Matthew H. Scanlan, Laurence B. Siegel, Spring 2006

 

Outstanding Articles:

A Factor Approach to Asset Allocation
Roger G. Clarke, Harindra de Silva, Robert Murdock, Fall 2005

Attribution
Richard Grinold, Winter 2006

Are Optimizers Error Maximizers?
Mark Kritzman, Summer 2006

*Articles authored by Frank Fabozzi or Peter Bernstein were not eligible for an award. Authors were not permitted to vote for their own articles. The ballots were tallied by Institutional Investor Journals.


Additional Bernstein Fabozzi/Jacobs Levy Awards:

The Ninth Annual Bernstein Fabozzi/Jacobs Levy Awards

The Bernstein Fabozzi/Jacobs Levy Award was established in 1999 to honor the Editors’ 25 years of extraordinary contributions and to promote research excellence in the theory and practice of portfolio management. The annual awards, generously funded by Jacobs Levy Equity Management, consists of a $2,500 prize for Best Article and $1,000 prizes for each of three Outstanding Articles.

The Journal of Portfolio Management is pleased to announce the recipients of the Eighth Annual Bernstein Fabozzi/Jacobs Levy Awards for articles appearing in the sequence of four issues beginning with Fall 2006 and ending with Summer 2007. On the basis of voting by subscribers,* the Ninth Annual Bernstein Fabozzi/Jacobs Levy Awards are presented to:

Best Article:

Gathering Implicit Alphas in a Beta World
Martin Leibowitz and Anthony Bova, Spring 2007

Outstanding Articles:

Minimum-Variance Portfolios in the U.S. Equity Market
Roger Clarke, Harindra de Silva, and Steven Thorley, Fall 2006


The Relative Importance of Asset Allocation and Security Selection
Kodjovi Assoé, Jean-François L’Her, and Jean-François Plante, Fall 2006

Execution Risk
Robert Engle and Robert Ferstenberg, Winter 2007

*Articles authored by Frank Fabozzi or Peter Bernstein were not eligible for an award. Authors were not permitted to vote for their own articles. The ballots were tallied by Institutional Investor Journals.


Additional Bernstein Fabozzi/Jacobs Levy Awards:

The Tenth Annual Bernstein Fabozzi/Jacobs Levy Awards

The Bernstein Fabozzi/Jacobs Levy Award was established in 1999 to honor the Editors’ 25 years of extraordinary contributions and to promote research excellence in the theory and practice of portfolio management. The annual awards, generously funded by Jacobs Levy Equity Management, consists of a $2,500 prize for Best Article and $1,000 prizes for each of three Outstanding Articles.

The Journal of Portfolio Management is pleased to announce the recipients of the Tenth Annual Bernstein Fabozzi/Jacobs Levy Awards for articles appearing in the sequence of four issues beginning with Fall 2007 and ending with Summer 2008 as well as the special Real Estate issue from September 2007. On the basis of voting by subscribers,* the Tenth Annual Bernstein Fabozzi/Jacobs Levy Awards are presented to:

Best Article:

Dynamic Portfolio Analysis
Richard Grinold, Fall 2007

Outstanding Articles:

Information Horizon, Portfolio Turnover, and Optimal Alpha Models
Edward Qian, Eric H. Sorensen, and Ronald Hua, Fall 2007

A Question So Important Thet It Sould Be Hard To Think About Anything Else
John C. Bogle, Winter 2008

130/30: The New Long-Only
Andrew W. Lo and Pankaj N. Patel, Winter 2008

*Articles authored by Frank Fabozzi or Peter Bernstein were not eligible for an award. Authors were not permitted to vote for their own articles. The ballots were tallied by Institutional Investor Journals.


Additional Bernstein Fabozzi/Jacobs Levy Awards:

The Eleventh Annual Bernstein Fabozzi/Jacobs Levy Awards

The Bernstein Fabozzi/Jacobs Levy Awards were established in 1999, on the 25th anniversary of The Journal of Portfolio Management, to honor Editors Peter Bernstein and Frank Fabozzi for their extraordinary contributions and to promote research excellence in the theory and practice of portfolio management. The annual awards, generously funded by Jacobs Levy Equity Management, consists of a $2,500 prize for Best Article and $1,000 prizes for each of three Outstanding Articles.

The Journal of Portfolio Management is pleased to announce the recipients of the 11th Annual Bernstein Fabozzi/Jacobs Levy Awards for articles appearing in the sequence of four issues beginning with Fall 2008 and ending with Summer 2009.  On the basis of voting by subscribers,* the 11th Annual Bernstein Fabozzi/Jacobs Levy Awards are presented to:

Best Article:

Understanding the VIX
Robert E. Whaley, Spring 2009

Outstanding Articles:

Alternatives and Liquidity: Will Spending and Capital Calls Eat Your "Modern" Portfolio?
Laurence B. Siegel, Fall 2008

Luck, Skill, and Investment Performance
Bradford Cornell, Winter 2009

The Black-Litterman Model for Active Portfolio Management
Alexandre S. Da Silva, Wai Lee, and Bobby Pornrojnangkoo, Winter 2009

*Articles authored by Frank Fabozzi or Peter Bernstein were not eligible for an award. Authors were not permitted to vote for their own articles. The ballots were tallied by Institutional Investor Journals.


Additional Bernstein Fabozzi/Jacobs Levy Awards:

The Twelfth Annual Bernstein Fabozzi/Jacobs Levy Awards

The Bernstein Fabozzi/Jacobs Levy Awards were established in 1999, on the 25th anniversary of The Journal of Portfolio Management, to honor Editors Peter Bernstein and Frank Fabozzi for their extraordinary contributions and to promote research excellence in the theory and practice of portfolio management. The annual awards, generously funded by Jacobs Levy Equity Management, consists of a $2,500 prize for Best Article and $1,000 prizes for each of three Outstanding Articles.


The Journal of Portfolio Management is pleased to announce the recipients of the 12th Annual Bernstein Fabozzi/Jacobs Levy Awards for articles appearing in the sequence of four issues beginning with Fall 2009 and ending with Fall 2010 as well as the special Real Estate issue from September 2009. On the basis of voting by subscribers,* the 12th Annual Bernstein Fabozzi/Jacobs Levy Awards are presented to:

Best Article:

Active Portfolio Management and Positive Alphas: Fact or Fantasy?
Robert A.Jarrow, Summer 2010

Outstanding Articles:

The Fiduciary Principle: No Man Can Serve Two Masters 
John C.Bogle, Fall 2009

The Myth of Diversification
David B Chua, Mark Kritzman, and Sébastien Page, Fall 2009

Crisis and Innovation
Robert J. Shiller, Spring 2010

*Articles authored by Frank Fabozzi were not eligible for an award. Authors were not permitted to vote for their own articles. The ballots were tallied by Institutional Investor Journals.


Additional Bernstein Fabozzi/Jacobs Levy Awards:

The Thirteenth Annual Bernstein Fabozzi/Jacobs Levy Awards

The Bernstein Fabozzi/Jacobs Levy Awards were established in 1999, on the 25th anniversary of The Journal of Portfolio Management, to honor Editors Peter Bernstein and Frank Fabozzi for their extraordinary contributions and to promote research excellence in the theory and practice of portfolio management. The annual awards, generously funded by Jacobs Levy Equity Management, consists of a $2,500 prize for Best Article and $1,000 prizes for each of three Outstanding Articles.

The Journal of Portfolio Management is pleased to announce the recipients of the 13th Annual Bernstein Fabozzi/Jacobs Levy Awards for articles appearing in the sequence of four issues beginning with Winter 2011 through Fall 2011 as well as the Spring Real Estate issue from September 2011. On the basis of voting by subscribers,* the 13th Annual Bernstein Fabozzi/Jacobs Levy Awards are presented to:

Best Article:

Risk-Based Asset Allocation: A New Answer to an Old Question?
Wai Lee, Summer 2011

Outstanding Articles:

Minimum-Variance Portfolio Composition 
Roger Clarke, Harindra de Silva, and Steven Thorley, Winter 2011

The Description of Portfolios 
Richard Grinold, Winter 2011

Principal Components as a Measure of Systemic Risk
Mark Kritzman, Yuanzhen Li, Sébastien Page, and Roberto Rigobon, Summer 2011

*Articles authored by Frank Fabozzi were not eligible for an award. Authors were not permitted to vote for their own articles. The ballots were tallied by Institutional Investor Journals.


Additional Bernstein Fabozzi/Jacobs Levy Awards:

The Fourteenth Annual Bernstein Fabozzi/Jacobs Levy Awards

The Bernstein Fabozzi/Jacobs Levy Awards were established in 1999, on the 25th anniversary of The Journal of Portfolio Management, to honor Editors Peter Bernstein and Frank Fabozzi for their extraordinary contributions and to promote research excellence in the theory and practice of portfolio management. The annual awards, generously funded by Jacobs Levy Equity Management, consists of a $2,500 prize for Best Article and $1,000 prizes for each of three Outstanding Articles.

The Journal of Portfolio Management is pleased to announce the recipients of the 14th Annual Bernstein Fabozzi/Jacobs Levy Awards for articles appearing in the sequence of four issues beginning with Winter 2012 through Fall 2012.  On the basis of voting by subscribers,* the 14th Annual Bernstein Fabozzi/Jacobs Levy Awards are presented to:

Best Article:

The Death of Diversification Has Been Greatly Exaggerated
Antti Ilmanen and Jared Kizer, Spring 2012

Outstanding Articles:

The Norway Model
David Chambers, Elroy Dimson, and Antti Ilmanen, Winter 2012

Risk On / Risk Off
Wai Lee, Spring 2012

Diversification Return and Leveraged Portfolios 
Edward Qian, Spring 2012

*Articles authored by Frank Fabozzi were not eligible for an award. Authors were not permitted to vote for their own articles. The ballots were tallied by Institutional Investor Journals.


Additional Bernstein Fabozzi/Jacobs Levy Awards:

The Fifteenth Annual Bernstein Fabozzi/Jacobs Levy Awards

The Bernstein Fabozzi/Jacobs Levy Awards were established in 1999, on the 25th anniversary of The Journal of Portfolio Management, to honor Editors Peter Bernstein and Frank Fabozzi for their extraordinary contributions and to promote research excellence in the theory and practice of portfolio management. The annual awards, generously funded by Jacobs Levy Equity Management, consists of a $2,500 prize for Best Article and $1,000 prizes for each of three Outstanding Articles.

The Journal of Portfolio Management is pleased to announce the recipients of the 15th Annual Bernstein Fabozzi/Jacobs Levy Awards for articles appearing in the sequence of four issues beginning with Winter 2013 through Fall 2013, as well as the Special Real Estate issue from September 2013. On the basis of voting by subscribers,* two articles tied for Best, and there was also a tie for Outstanding this year. The 15th Annual Bernstein Fabozzi/Jacobs Levy Awards are presented to:

Best Articles:

Volatility, Correlation, and Diversification in a Multi-Factor World
Richard Roll, Winter 2013

The Devil in HML's Details
Clifford Asness and Andrea Frazzini, Summer 2013


Outstanding Articles:

Diversification Across Time
Ian Ayres and Barry Nalebuff, Winter 2013

Liquidity and Portfolio Choice: A United Approach
Will Kinlaw, Mark Kritzman, and David Turkington, Winter 2013

The Surprising Alpha From Malkiel's Monkey and Upside-Down Strategies
Robert D. Arnott, Jason Hsu, Vitali Kalesnik, and Phil Tindall, Summer 2013

Risk Disparity
Mark Kritzman, Fall 2013

*Articles authored by Frank Fabozzi were not eligible for an award. Authors were not permitted to vote for their own articles. The ballots were tallied by Institutional Investor Journals.


Additional Bernstein Fabozzi/Jacobs Levy Awards:

The Sixteenth Annual Bernstein Fabozzi/Jacobs Levy Awards

The Bernstein Fabozzi/Jacobs Levy Awards were established in 1999, on the 25th anniversary of The Journal of Portfolio Management, to honor Editors Peter Bernstein and Frank Fabozzi for their extraordinary contributions and to promote research excellence in the theory and practice of portfolio management. The annual awards, generously funded by Jacobs Levy Equity Management, consists of a $2,500 prize for Best Article and $1,000 prizes for each of three Outstanding Articles.

The Journal of Portfolio Management is pleased to announce the recipients of the 16th Annual Bernstein Fabozzi/Jacobs Levy Awards for articles appearing in the sequence of four issues beginning with Winter 2014 through Fall 2014, as well as the Special 40th Anniversary issue from September 2014.  Due to a tie vote, there are four outstanding article awards granted this year. On the basis of voting by subscribers,* the 16th Annual Bernstein Fabozzi/Jacobs Levy Awards are presented to:

Best Article:

Evaluating Trading Strategies
Campbell R. Harvey and Yan Liu, 40th Anniversary Issue, September 2014

Outstanding Articles:

Can Alpha Be Captured by Risk Premia?
Jennifer Bender, P. Brett Hammond, and William Mok, Winter 2014

A Study of Low-Volatility Portfolio Construction Methods
Tzee-man Chow, Jason C. Hsu, Li-lan Kuo, and Feifei Li, 40th Anniversary Issue, September 2014

The Divergence of High- and Low-Frequency Estimation: Causes and Consequences
William Kinlaw, Mark Kritzman, and David Turkington, 40th Anniversary Issue, September 2014

Tesla: Anatomy of a Run-Up
Bradford Cornell and Aswath Damodaran, Fall 2014

*Articles authored by Frank Fabozzi were not eligible for an award. Authors were not permitted to vote for their own articles. The ballots were tallied by Institutional Investor Journals.


Additional Bernstein Fabozzi/Jacobs Levy Awards:

The Seventeenth Annual Bernstein Fabozzi/Jacobs Levy Awards

The Bernstein Fabozzi/Jacobs Levy Awards were established in 1999, on the 25th anniversary of The Journal of Portfolio Management, to honor Editors Peter Bernstein and Frank Fabozzi for their extraordinary contributions and to promote research excellence in the theory and practice of portfolio management. The annual awards, generously funded by Jacobs Levy Equity Management, consists of a $2,500 prize for Best Article and $1,000 prizes for each of three Outstanding Articles.

The Journal of Portfolio Management is pleased to announce the recipients of the 17th Annual Bernstein Fabozzi/Jacobs Levy Awards for articles appearing in the sequence of four issues beginning with Winter 2015 through Fall 2015, as well as the Special China issue from January 2015 and Real Estate issue from September 2015.  On the basis of voting by subscribers,* the 17th Annual Bernstein Fabozzi/Jacobs Levy Awards are presented to:

Best Article:

Backtesting
Campbell R. Harvey and Yan Liu, Fall 2015

Outstanding Articles:

A Penalty Cost Approach to Strategic Asset Allocation with Illiquid Asset Classes
Mark Hayes, James A. Primbs, and Ben Chiquoine, Winter 2015

The Divergence of High- and Low-Frequency Estimation: Implications for Performance Measurement 
Will Kinlaw, Mark Kritzman, and David Turkington, Spring 2015

Fact, Fiction, and Value Investing
Clifford Asness, Andrea Frazzini, Ronen Israel, and Tobias Moskowitz, Fall 2015

*Articles authored by Frank Fabozzi were not eligible for an award. Authors were not permitted to vote for their own articles. The ballots were tallied by Institutional Investor Journals.


Additional Bernstein Fabozzi/Jacobs Levy Awards:

The Eighteenth Annual Bernstein Fabozzi/Jacobs Levy Awards

The Bernstein Fabozzi/Jacobs Levy Awards were established in 1999, on the 25th anniversary of The Journal of Portfolio Management, to honor Editors Peter Bernstein and Frank Fabozzi for their extraordinary contributions and to promote research excellence in the theory and practice of portfolio management. The annual awards, generously funded by Jacobs Levy Equity Management, consists of a $2,500 prize for Best Article and $1,000 prizes for each of three Outstanding Articles.

The Journal of Portfolio Management is pleased to announce the recipients of the 18th Annual Bernstein Fabozzi/Jacobs Levy Awards for articles appearing in the sequence of four issues beginning with Winter 2016 through Fall 2016, as well as the Special Quantitative Equity Strategies issue from May 2016. On the basis of voting by subscribers,* the 18th Annual Bernstein Fabozzi/Jacobs Levy Awards are presented to:

Best Article:

What Is an Index?
Andrew W. Lo, Winter 2016

Outstanding Articles:

Stability-Adjusted Portfolios
Mark Kritzman and David Turkington, Special QES Issue 2016

Alpha Signals, Smart Beta, and Factor Model Alignment
Terry Marsh and Paul Pf;eiderer, Special QES Issue 2016

David and Goliath: Who Wins the Quantitative Battle?
John C. Bogle, Fall 2016

*Articles authored by Frank Fabozzi were not eligible for an award. Authors were not permitted to vote for their own articles. The ballots were tallied by Institutional Investor Journals.


Additional Bernstein Fabozzi/Jacobs Levy Awards:

Philanthropy and Community

We want to make a real difference in people’s lives by encouraging research and activities that have the potential to improve the financial, physical, and cultural well-being of the members of our industry and our larger community.

Jacobs Levy Equity Management Center
for Quantitative Financial Research
The establishment of the Jacobs Levy Equity Management Center for Quantitative Financial Research is an extremely significant event for the Wharton School and for the field as a whole.
Thomas Robertson, Dean,
The Wharton School
The Jacobs Levy Genomic Medicine
and Research Program
We are very grateful to Bruce Jacobs and Ken Levy for their foresight and generosity to the community they live in. We know this program will have a positive impact on the community we serve.
David Shulkin, M.D., President, Morristown Medical Center, and Vice President, Atlantic Health System
American Cancer Society’s Jody A. Morrow Humanitarian Award Winner
Mayo Performing Arts Center’s John T. Cunningham Award Winner
Community Soup Kitchen and Outreach Center
We are active in supporting the communities we live and work in. We donate our time, energy, and other resources for the growth of our community locally and nationally. Our efforts range widely from sponsoring initiatives at Morristown Medical Center, to volunteering at a local soup Kitchen, contributing to United Way and the American Heart Association, and supporting a resident teacher at the New Jersey Performing Arts Center to bring music, dance, and theater education to underserved communities.

Innovation and a thirst for knowledge have driven our own breakthroughs in quantitative investing. Hoping to inspire both, we established the Jacobs Levy Equity Management Center for Quantitative Financial Research at the Wharton School of the University of Pennsylvania in September 2011. The Jacobs Levy Center provides research grants and fellowships, and aims to motivate research leading to practical applications that can improve everyone’s financial well-being. We also support the CFA Institute Research Foundation and the International Association for Quantitative Finance’s Fischer Black Memorial Foundation. 

Supporting innovation and its application is also the primary motivation behind our gift to create the Jacobs Levy Equity Management Personalized Genomic Medicine Program. Affiliated with Atlantic Health System, the program integrates genetic medicine into everyday practice, enabling physicians to diagnose and design highly personalized treatments for rare diseases as well as common conditions. Jacobs Levy received the Jody A. Morrow Humanitarian Award from the American Cancer Society in 2014 for its role in creating this innovative program. 

Jacobs Levy supports many other charitable efforts both within our community and nationally. We support several initiatives at Morristown Medical Center; sponsor a local soup kitchen at which staff members volunteer; and contribute to United Way and the American Heart Association. 

We are also pleased to support a number of New Jersey-based cultural institutions, including a program of the New Jersey Performing Arts Center that sponsors a resident teacher to bring music, dance, and theater education to underserved communities. Each year, the firm donates to dozens of other charities selected by our staff. 

In striving to fulfill our role as a responsible corporate citizen, we will continue to seek opportunities that will allow us to make a positive impact on our local and business communities. 

 

"We are very grateful to Bruce Jacobs and Ken Levy for their foresight and generosity to the community they live in. We know this program will have a positive impact on the community we serve."
— David Shulkin, M.D., President, Morristown Medical Center, and Vice President, Atlantic Health System


“The establishment of the Jacobs Levy Equity Management Center for Quantitative Financial Research is an extremely significant event for the Wharton School and for the field as a whole.”

— Thomas Robertson, Dean, The Wharton School
https://www.youtube.com/embed/CjZuEo2qsB4
Bruce Jacobs's Acceptance Speech
Jacobs Levy Equity Management Awarded the Jody A. Morrow Humanitarian Award
American Cancer Society's Diamond Ball
November 15, 2014
Bruce Jacobs’s Acceptance Speech – Jacobs Levy Equity Management Awarded the Jody A. Morrow Humanitarian Award – American Cancer Society’s Diamond Ball, November 15, 2014
https://www.youtube.com/embed/Jo6ddL9n-Co
Bruce Jacobs and Ken Levy’s Acceptance Speech
Jacobs Levy Equity Management Awarded the John T. Cunningham Award
Mayo Performing Arts Center’s Starlight Ball
November 14, 2015
Bruce Jacobs and Ken Levy’s Acceptance Speech – Jacobs Levy Equity Management Awarded the John T. Cunningham Award, November 14, 2015