ACKNOWLEDGMENTS

William S. Rukeyser, editor extraordinaire, used his deft skills to clarify and simplify every page. On behalf of all readers, thank you, Bill.

We also salute our wonderful wives, Nancy Weiss Malkiel and Linda Koch Lorimer. Vanessa Mobley, Meg Freeborn, and Bill Falloon provided perceptive questions and many helpful suggestions. Ellen DiPippo, Catharine Fortin, and Kimberly Breed made vital contributions by turning our illegible scribbles into readable copy.

Thanks to the Center for Economic Policy Studies at Princeton University for financial support.

Finally, many, many thanks to our students, teachers, and friends in the investment profession who, lucky us, have included Peter Bernstein, Jack Bogle, Warren Buffett, David Dodd, Ben Graham, Tad Jeffrey, Marty Leibowitz, Jay Light, Charlie Munger, Roger Murray, John Neff, Paul Samuelson, Gus Sauter, Bill Sharpe, and David Swensen.