“The scholar knows well the history of the discipline. He is also familiar with the major issues of the philosophy of science as applied to his discipline. More specifically, with respect to economics, he knows the difference between interesting economics questions and perhaps-interesting mathematical questions. He also knows how to interpret theories, that is, how to get to their (potential or actual) relevance to the real world after penetrating the mathematics and the general formalisms that frame their presentation.” – Mario Rizzo
Many moons ago, I graduated from college and had to make some choices. Was I prepared for graduate school (I was) and did I have anything relevant to study (I didn’t)? I think it fair to say that I was a scientist with tools but without anything important to say.
So, off to the world I went to work. Over the last fifteen years or so, I have found the interesting questions to ask but, more importantly, how will I use the answers. When this enlightenment hit me, I started looking around to see if others shared my thoughts and met David Loeper. Loeper, being a deep thinking individual, had these same questions, too. The difference is that Loeper has already set out to answer them and develop his tools.
I think I will share an example of what I believe Dr. Rizzo is asking. David Loeper wrote a paper named “Measuring Temperature with a Ruler- Is Your ‘Wealth Manager’ Really a ‘Return Manager’ in Disquise?”. I do love this paper. It says so much about the financial services industry’s best practices, articulates Loeper’s challenging argument, and offers solutions. In fact, the solutions are practical and can be implemented without difficulty. Who can ask for more from a scholar?
If you haven’t read this paper, you are in for a treat. It may change your approach to working with your assets and increase your confidence.
My future challenges will be to add to the greater body of knowledge by expanding on Loeper’s works. Finally, after all these years, I have relevant issues I wish to tackle and a market that needs advice backed by practical scholarship.
I should point out that I have worked with Loeper’s work for nine years. Last year, I officially joined his company to work with him more closely.