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CON T E N T S The Journal of Investment Consulting Volume 17 | Number 2 | 2016 ISSN 1524-6035 © 2016 Investment Management Consultants
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3 Editor’s Note | Margaret M. Towle, PhD, Editor-in-Chief
THE MASTERS SERIES
4 Antti S. Ilmanen, PhD: Smart Investing in an Environment of
Low Expected Returns
AQR Capital Management, principal
Author, Expected Returns: An Investor’s Guide to Harvesting Market Rewards
13 Adaptive Distribution Theory
James B. Sandidge, JD
34 The Most Basic Missing Instrument in Financial Markets: The Case for Bonds
for Financial Security
Arun Muralidhar, PhD, Kazuhiko Ohashi, PhD, and Sunghwan Shin, PhD