A Message to Our Readers

First, the bad news. Along with the markets it covers, Efficient Frontier is about to get downgraded. Turning out several fresh pieces each quarter on asset-class behavior, manager performance, portfolio theory, and the world in general is no small task. Truth be told, after six-and-a-half years, I’m starting to repeat myself. It’s time to cut back. This issue contains only two feature pieces and no link of the month. I expect to maintain this stripped-down output quarterly, but make no promises.

Now, the good news. One of the reasons I’m cutting back is to make space for a large project, the nature of which will be announced here in the fall. It will be appearing on bookshelves next year, is economic, and is much bigger than a breadbox.

But for now, a measure of delayed gratification is required of readers.

’Til then,

William Bernstein

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