William F. Sharpe

Professor Emeritus, Finance
+1 (831) 620-1490

William F. Sharpe

The STANCO 25 Professor of Finance, Emeritus

Academic Area:

Research Statement

Professor Sharpe’s research interests focus on macro-investment analysis, equilibrium in capital markets and the provision of income in retirement.

Bio

William F. Sharpe is the STANCO 25 Professor of Finance, Emeritus, at Stanford University’s Graduate School of Business. He joined the Stanford faculty in 1970, having previously taught at the University of Washington and the University of California at Irvine. In 1996, he cofounded Financial Engines, a firm that provides online investment advice and management for individuals.

Sharpe was one of the originators of the Capital Asset Pricing Model, developed the Sharpe Ratio for investment performance analysis, the binomial method for the valuation of options, the gradient method for asset allocation optimization, and returns-based style analysis for evaluating the style and performance of investment funds.

Sharpe has published articles in a number of professional journals, including Management Science, The Journal of Business, The Journal of Finance, The Journal of Financial Economics, The Journal of Financial and Quantitative Analysis, The Journal of Portfolio Management, and The Financial Analysts’ Journal.

He has also written seven books, including Portfolio Theory and Capital Markets (McGraw-Hill, 1970 and 2000), Asset Allocation Tools (Scientific Press, 1987), Fundamentals of Investments (with Gordon J. Alexander and Jeffrey Bailey, Prentice-Hall, 2000), Investments (with Gordon J. Alexander and Jeffrey Bailey, Prentice-Hall, 1999) and Investors and Markets, Portfolio Choices, Asset Prices and Investment Advice, Princeton University Press, 2007.

Sharpe is past president of the American Finance Association. In 1990 he received the Nobel Prize in Economic Sciences.

He received his PhD, MA and BA in Economics from the University of California at Los Angeles. He is also the recipient of a Doctor of Humane Letters, Honoris Causa from DePaul University, a Doctor Honoris Causa from the University of Alicante (Spain), a Doctor Honoris Causa from the University of Vienna (Austria), and the UCLA Medal, UCLA’s highest honor.

Academic Degrees

  • PhD in Economics, UC Los Angeles, 1961
  • MA in Economics, UC Los Angeles, 1956
  • BA in Economics, UC Los Angeles, 1955

Academic Appointments

  • At Stanford University since 1970, Emeritus since 1999
  • Professor, University of California, Irvine, 1968-1970
  • Associate Professor, University of Washington, 1961-1968

Professional Experience

  • Economist, RAND Corp., 1956-1961

Awards and Honors

  • Wharton Jocobs Levy Prize for Quantitative Financial Innovation, 2016
  • Nobel Memorial Prize in Economic Science, The Nobel Foundation, 1990

Publications

Journal Articles

William F. Sharpe
Financial Analysts Journal
March 2013
William F. Sharpe
Financial Analysts Journal
May 2010 Vol. 66 Issue 3 Pages 45-59
Jason S. Scott, William F. Sharpe, John G. Watson
Journal of Investment Management
2009 Vol. 7 Issue 3 Pages 31-48
William F. Sharpe
Financial Analysts Journal
September 2007 Vol. 63 Issue 5 Pages 18-30
William F. Sharpe
Financial Analysts Journal
July 1998 Vol. 54 Issue 4 Pages 21-33
William F. Sharpe
The Financial Analysts' Journal
January 1991 Vol. 47 Issue 1 Pages 7-9
William F. Sharpe
Financial Analysts Journal
November 1973 Vol. 29 Issue 6 Pages 74-80
William F. Sharpe
Financial Analysts Journal
January 1972 Vol. 28 Issue 1 Pages 74-79

Books

William F. Sharpe
Princeton University Press
Princeton
2007
William F. Sharpe
Prentice Hall
1998
William F. Sharpe
Prentice Hall
1993
William F. Sharpe
Scientific Press
April 1987
William F. Sharpe
Columbia University Press
June 1973
William F. Sharpe
McGraw-Hill
June 1970

Working Papers

William F. Sharpe 1993
Sanford J. Grossman, William F. Sharpe 1986
Anat R. Admati, Paul Pfleiderer, William F. Sharpe 1986
Brent D. Weaver, William F. Sharpe 1982
William F. Sharpe, R. Lanstein 1978
William F. Sharpe 1972

Service to the Profession

  • Chairman, Financial Engines, Inc
  • Past President, American Finance Association

In the Media

Insights by Stanford Business

April 18, 2013
A Nobel Prize winner says preparing for retirement means keeping an eye on investment costs and not looking to the market for sympathy.
April 01, 2010
Research looks at how workers can be sure to save enough to retire.
October 01, 2009
Nobel Laureate William F. Sharpe explains how futile it is to read sure-thing investing books or watch the latest financial guru to find easy answers.

School News

August 01, 2011
Nobel Laureate William F. Sharpe has been honored with the Graham and Dodd Award of Excellence, which recognizes excellence in financial writing.
October 01, 1990
Sharpe named for his Capital Asset Pricing Model, an aid to making investment decisions.