Name John Lintner | ||
Died June 8, 1983, Cambridge, Massachusetts, United States Books Effects of Taxation: Corporate Mergers, Effect of Federal Taxes on Growing Enterprises | ||
John Lintner Tribute
John Virgil Lintner, Jr. (February 9, 1916 – June 8, 1983) was a professor at the Harvard Business School in the 1960s and one of the co-creators (1965a,b) of the capital asset pricing model.
Contents
For a time, much confusion was created because the various economists working on this model independently failed to realize that they were saying much the same thing. They looked at the issue of capital asset valuation from different perspectives. William F. Sharpe, for example, approached the problem as an individual investor picking stocks. Lintner, on the other hand, approached it from the perspective of a corporation issuing shares of stock.
LIntner was also known for a 1983 presentation he gave to the to the Financial Analysts Federation. For the first time he presented what has become known as the "Lintner Paper," formally titled “The Potential Role of Managed Commodity-Financial Futures Accounts (and/or Funds) in Portfolios of Stocks and Bonds.” Lintner's research combined a volatile asset, managed futures CTAs, with another volatile asset, stocks, to reduce overall portfolio volatility and improve returns. For NonCorrelated investors LIntner's work was a foundational milestone that has been used to advance this investment disclipline.
Lintner earned his bachelor's degree from the University of Kansas in 1939. He arrived at Harvard for graduate study the next year. He quickly impressed the faculty, and in 1942 became a member of the Society of Fellows, a three-year paid fellowship with no duties except self-directed research.
Personal life
John Lintner was born to John Virgil and Pearl Lintner in Lone Elm, KS on February 9, 1916. From his first marriage to Sylvia Change, he had two children, John Howland and Nancy Chance. From his second marriage to Eleanor Hodges, he had a stepson, Allan Hodges. He died of a heart attack while driving on June 8, 1983 in Cambridge, MA.
Education
He received an A.B., in 1939 and a M.A., in 1940 from the University of Kansas; a M.A., in 1942; and Ph.D., in 1946 from Harvard University.