John Lintner

John Virgil Lintner, Jr. ( February 9, 1916 in Lone Elm , County Anderson, Kansas - June 8, 1983 in Cambridge , Massachusetts ) was a professor at Harvard Business School and, along with Jan Mossin and others, one of the founders of Capital , published in 1965 Asset Pricing Models (CAPM), a major financial model.

Confusion arose for a while as the various economists who worked independently on this model failed to realize that they were essentially all making the same statements. They looked at the problem of determining the value of investments from different angles. William F. Sharpe , for example, had an approach of individual investors considered that stocks should select. Lintner, on the other hand, looked at the problem from the point of view of companies that wanted to issue shares on the stock exchange .

Lintner also became known for a lecture he gave for the Financial Analysts Federation . There he presented for the first time what later became known as Lintner Paper . It was actually called The Potential Role of Managed Commodity-Financial Futures Accounts (and / or Funds) in Portfolios of Stocks and Bonds.

Lintner's model combined a volatile asset class , managed futures controlled by futures trading advisors (CTA) , with stocks , another volatile asset class, and thus reduced the volatility of the overall portfolio and improved its return in accordance with portfolio theory . Lintner's work is considered to be a milestone that brought this part of investment theory forward.

Lintner received a bachelor's degree from the University of Kansas in 1939 . He continued his studies at Harvard and soon impressed his faculty. In 1942 he received a three-year Society of Fellows scholarship . Apart from self-determined research, there were no obligations associated with the fellowship.

Private life

John Lintner was born on February 9, 1916 to John Virgil and Pearl Lintner in Lone Elm, Anderson County , Kansas . From his first marriage to Sylvya Change, he has two children, John Howland and Nancy Chance. From his second marriage to Eleanor Hodges, he has a stepson, Allan Hodges. Lintner died of a heart attack while driving on June 8, 1983 in Cambridge , Massachusetts

education

Lintner earned a bachelor's degree in 1939 and a master's degree from the University of Kansas in 1940 . In 1942 he earned another master's degree from Harvard, where he received his PhD in 1946

Professional background

• 1939-40 - Instructor, Business Administration, University of Kansas, Lawrence
• 1941 - Member of Research Staff on fiscal policy, National Bureau of Economic Research, New York
• 1946–51 - Assistant Professor, Harvard University, Graduate School of Business Administration
• 1951–56 - Associate Professor, Harvard University, Graduate School of Business Administration
• 1956–64 - Professor of Business Administration, Harvard University
• 1964–83 - George Gund Professor of Economics and Business Administration, Harvard University
• 1950–83 - Member of the Board of Trustees, Cambridge Savings Bank
• 1975–83 - Board of director, US & Foreign securities corp, Chase of Boston Mutual Funds
• Advisory activities for companies and government

Publications

• Effect of federal taxes on growing enterprises, J. Keith Butters and John Lintner, 1945, Division of Research, Graduate School of Business Administration, Harvard University
• Mutual Savings Banks in the Savings and Mortgage Markets, John Lintner, Jan 1, 1948, Harvard university
• Corporate profits in perspective (National Economic Problems), John Lintner, 1949, American Enterprise Assn.
• Effects of taxation: Corporate Mergers, J. Keith Butters, John Lintner, William Lucius Carey, 1952, Division of Research, Harvard University
• The Valuation of Risk Assets and the Selection of Risky Investments in Stock Portfolios and Capital Budgets, John Lintner, 1965, Review of Economics and Statistics. 47: 1, pp. 13-37.
• Allowance of rates of return on public utility equities: The double leverage controversy, John Lintner, 1980, Working paper - Division of Research, Graduate School of Business Admin, Harvard University, HBS 80-32
• Allowance of rates of return on public utility equities: The theory of optimal rate of return regulation of utilities and the double leverage controversy, John Lintner, 1981, Harvard University
• The potential role of managed commodity financial futures accounts and or funds in portfolios of stocks and bonds, John Lintner, 1983, Working paper, Harvard University
• Some new perspectives on tests of CAPM and other capital asset pricing models and issues of market efficiency, John Lintner, 1981, Harvard Institute of Economic Research discussion paper

Individual evidence

1. ↑ Archived copy ( memento of the original dated February 13, 2018 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. 
2. ^ John Virgil Lintner: The Potential Role of Managed Commodity-financial Futures Accounts (and / or Funds) in Portfolios of Stocks and Bonds . Division of Research, Graduate School of Business Administration, Harvard University, 1983 ( limited preview in Google Book Search).
3. ↑ http://www.cmegroup.com/education/alternative-investment-resource-center/research/lintner-revisited.html
4. ↑ ^{a b c} Contemporary Authors (Biography) . Thomson Gale. January 1, 2004. Retrieved June 29, 2011.  ( Page no longer available , search in web archives )