Bill Reichenstein

Professor of Finance and the Pat and Thomas R. Powers Chair in Investment Management - Finance, Insurance & Real Estate

Contact Information

Email:	Bill_Reichenstein@baylor.edu
Homepage:	http://finance.baylor.edu/reichenstein
Campus Phone:	(254) 710-6146
Fax:	(254) 710-1092
Mailing Address:	One Bear Place, #98004 Waco, TX  76798-8004
Office Location:	HSB 355

Awards and Honors

• 2008 Financial Frontiers Editor's Choice Award, Financial Planning Association (June 10, 2008)
• Finalist for Samuelson Award, TIAA-CREF Institute (November 2007)

Publications

"Tax-Efficient Sequencing of Accounts to Tap in Retirement," Trends & Issues, TIAA-CREF Insititue, (October 2006).

"The Expanding "Roth" Retirement Account," Trends & Issues, TIAA-CREF Institute, (March 2006) (coauthors: Alicia Waltenberger, Douglas Rothermich).

Discipline-based Scholarship

"Valuation of Assets in Taxable Accounts and Annuities," Financial Services Review, Vol. 17, No. 3, (Fall 2008), pp. 203-217.

In the Presence of Taxes: Applications of After-tax Asset Valuations: FPA Press, September 2008.

"The Extended Portfolio in Private Wealth Management," Journal of Wealth Management, Vol. 11, No. 1, (Summer 2008), pp. 36-45.

"Returns-Based Style Analysis of High-Yield bonds," Journal of Fixed Income, (Spring 2008).

"Returns-based Style Analysis of Convertible Bond Funds," Journal of Fixed Income, Vol. 18, No. 3, (Winter 2008) (coauthors: Dale L Domian).

"Note on "Applying After-tax Asset Allocation"," Journal of Wealth Management, Vol. 10, No. 2, (Fall 2007), pp. 94-97.

"Calculating After-tax Asset Allocation is Key to Risk, Returns, and Asset Location," Journal of FInancial Planning, (July 2007).

"Implications of Principal, Risk, and Returns Sharing across Savings Vehicles," Financial Services Review, Vol. 16, No. 1, (2007), pp. 1-17.

"The Literature of Private Wealth Management," CFA Institute, (December 2006) (coauthors: William W. Jennings).

"After-tax Asset Allocation," Financial Analysts Journal, No. July/August, 2006, (2006).

"Rationality of "Naive" Forecasts of Long-Term Interest Rates," Journal of Portfolio Management, (2006).

"A Holistic Approach to Asset Allocation," The Investment Think Tank, December 2004 (coauthors: William W Jennings).

"Predictability of Fixed-Income Fund Returns," Journal of Financial Planning, Vol. 17, No. 11, (November 2004), pp. 62-71 (coauthors: Tom L. Potts).

"Morningstar's new Star-Rating System: Advances and Innovations," Journal of Financial Planning, Vol. 17, No. 3, (March 2004), pp. 40-47.

"Tax-Aware Investing: Implications for Asset Allocation, Asset Location, and Stock Management Style," Journal of Wealth Management, Vol. 7, No. 3, (January 2004), pp. 18-Jul.

"Predictability of Bond Mutual Fund Returns," Financial Services Review, (November 2003) (coauthors: Tom L. Potts).

"Valuing Defined-Benefit Plans," Financial Services Review, Vol. 12, No. 3, (October 2003), pp. 179-199 (coauthors: William W. Jennings).

"Predicting Municipal Bond Fund Returns," Journal of Investing, Vol. 11, No. 3, (October 2002), pp. 53-65 (coauthors: Dale L. Domian).

"Rewards to Extending Maturity: Implications for Investors," Journal of Portfolio Management, Vol. 24, No. 3, (1998) (coauthors: Dales L. Domian, Terry S. Maness).

"Is the Stock Market Predictable?," Baylor Business Review, (1994) (coauthors: Steven P. Rich).

"Market Timing for the Individual Investor: Using the Predictability of Long-Horizon Stock Returns to Enhance Portfolio Returns Through Market Timing," Financial Services Review, (1994) (coauthors: Steven P. Rich).

"Predicting Long-Horizon Stock Returns: Evidence and Implications," Financial Analysts Journal, (1994) (coauthors: Steven P. Rich).

"The Market Risk Premium and Long-Term Stock Returns," Journal of Portfolio Management., (1993) (coauthors: Steven P. Rich).

Contributions to Practice

"Long Horizon Stock Prospects:Evidence and Applications," Journal of Investing, Vol. 18, No. 3, (Fall 2009), pp. 12-20 (coauthors: Dale L Domian).

"Bear Market Grads: What you Should Learn from teh Financial Crisis," AAII Journal, (July 2009) (coauthors: Larry Swedroe).

"After-tax Asset Allocation," Private Wealth: Wealth Management in Practice, Stephen M. Horan (eds.): CFA Institute, 2nd Quarter 2009.

"Stocks for the Long Term: Why Prospects are Rosy," AAII Journal, Vol. 31, No. 1, (January 2009) (coauthors: Dale L Domian).

"Returns-based Style Analysis of Convertible Bond Funds," Journal of Fixed Income, Vol. 18, No. 3, (Winter 2009), pp. 52-64 (coauthors: Dale L Domian).

"Financial Planning Terms: What They Mean and Why You Should Care," AAII Journal, Vol. 30, No. 10, (November 2008), pp. 8-12 (coauthors: Harold Evensky).

"Choice of Savings Vehicles when Saving for Retirement," Private Wealth Management Newsletter, (Fall 2008).

"Will Your Savings Last? What the Withdrawal Rate Studies Show," AAII Journal, (July 2008).

"Growth or Value for Retirement?," Investment News, (January 2008).

"One Concept and Some of its Applications," Journal of Wealth Management, (Winter 2008), pp. 82-91.

"After-tax Asset Allocation," Private Wealth Management and Practice, CFA Institute Perspective Series: John Wiley & Sons, Winter 2008.

"Clueless: What Graduates Need to Know about Making Financial Decisions," AAII Journal, (January 2008).

"An After-tax Approach to Allocation," Investment News, (November 2007).

"Investment Products: If It Has to be Sold, Don't Buy It!," AAII Journal, No. November 2007, (November 2007), pp. 4-10 (coauthors: Larry Swedroe).

"Trying to Explain the Value Premium," AAII Journal, No. July 2007, (July 2007), pp. 6-13.

"Adding Value through the Tax Code," Today's CPA, Vol. 34, No. 4, (January 2007), pp. 24-28 (coauthors: Charles W. Thomas).

"Investment Lessons from Life Cycle Funds," AAII Journal, No. January 2007, (January 2007), pp. 5-12 (coauthors: William W. Jennings).

"Investment Planning 101: Doing the Right Things and Doing Them Right," Today's CPA, Vol. 34, No. 3, (November 2006), pp. 24-28 (coauthors: Charles W. Thomas).

"The Real-World Lessons from Investment Theory," AAII Journal, (January 2006) (coauthors: William Thomas).

"Tax-Efficient Investing: Picking the Right Pocket for Your Assets," AAII Journal, (November 2005), pp. 20-24.

"The Great Tax Fight: Managing Stocks in Taxable Accounts," AAII Journal, (July 2005), pp. 10-May.

"Tax Efficient Investing and What it Means to Your Portfolio," AAII Journal, (February 2005), pp. 25-29.

"Insured Investment Products: The Reality Behind the Hype," AAII Journal, (November 2004), pp. 15-Oct.

"What Are You Really Getting When You Invest in a Hedge Fund?," AAII Journal, (July 2004), pp. 14-Sep.

"Retiree Stock Allocation Recommendations: Do You Fit the 'Mold'?," AAII Journal, (February 2004), pp. 25-30.

"Allocations During Retirement: Adding Annuities to the Mix," AAII Journal, Vol. 36, No. 1, (November 2003), pp. 9-Mar.

"Lessons from Recent Markets History," Baylor Magazine, (November 2003), pp. 50.

"Investment Tax Planning for Retirement," Journal of Accountancy, (August 2003), pp. 63-69 (coauthors: Del Chesser, Tom Harrison).

"Retirement Planning: Annuities and When They Make Sense," AAII Journal, Vol. 25, No. 6, (July 2003), pp. 23-28.

"10 Lessons You Should Learn from Recent Market History," AAII Journal, Vol. 25, No. 2, (February 2003), pp. 6-Mar.

"When Should You Begin Social Security Benefits?," AAII Journal, Vol. 24, No. 10, (November 2002), pp. 27-34 (coauthors: Kirsten A. Cook, William W. Jennings).

"Tax Act and IRAs," Baylor Magazine, Vol. 1, No. 1, (July 2002), pp. 48.

"An expanded portfolio includes real estate and human capital," Journal of the American Asscociation of Individual Investors, Vol. 15, No. 6, (1996), pp. 7-11 (coauthors: Charles J. Delaney).

"Portfolio Management: An alternative approach to asset allocation," The Journal of Investing, Vol. 4, No. 3, (1995), pp. 57-62 (coauthors: Charles J. Delaney).

Learning and Pedagogical Research

"How to Calculate an After-tax Asset Allocation," Journal of Financial Planning, Vol. 21, No. 8, (August 2008), pp. 62-69.

Presentations and Proceedings

Discipline-based Scholarship

"Predictability of Fixed-Income Returns," presented at the Journal of Financial Planning symposium, September 2004 (coauthors: Tom L. Potts).

"Comments on the Equity Risk Premium," presented at the Association for Investment Management and Research, Edited transcript published at http://www.aimrpubs.org/ap/issues/v2002n1/pdf/v2002n1.pdf, November 2002.

"Calculating the Value of Defined-benefit Plans," presented at the Academy of Financial Services, San Antonio, Texas, October 2002 (coauthors: William W. Jennings).

"Optimal College Savings under Financial Aid Considerations," presented at the Academy of Financial Services, San Antonio, Texas, October 2002 (coauthors: William W Jennings and Kevin Davis).

"The Value of Retirement Benefits: The Value of Military Retirement," presented at the Academy of Financial Services, Toronto, Canada, 2001 (coauthors: William Jennings).

"Performance and Persistence in Canadian Money Market Fund Returns," presented at the Academy of Financial Services Annual Meeting, Toronto, Canada, 2001 (coauthors: Dale L. Domian and Calvin L. Fiendell).

"How to Profit from Reduced Capital Gain Tax Rates," presented at the Southwestern Accounting Association Annual Meeting, New Orleans, LA, 2001 (coauthors: Barry Marks).

"Tax Strategies for Financing Higher Education," presented at the Academy of Financial Services Annual Meeting, Orlando, FL, 1999.

"New Evidence on the Term Structure: Implications for Investors," presented at the Southwestern Finance Association, Houston, TX, 1995 (coauthors: Terry S. Maness).

"Using the Predictability of Long-Horizon Stock Returns to Enhance Portfolio Returns Through Market Timing," presented at the Academy of Financial Services Annual Meeting, 1992 (coauthors: Steven P. Rich).

"Predicting Long-Horizon Stock Returns: The Ex-Ante Advantage," presented at the Eastern Finance Association Annual Meeting, 1992 (coauthors: Steven P. Rich).

"Predicting Long-Horizon Stock Returns: The Ex-Ante Advantage," presented at the Financial Management Association Annual Meeting, 1992 (coauthors: Steven P. Rich).

"Market Timing: In Search of a Golden Rule," presented at the Southwestern Finance Association Annual Meeting, 1992 (coauthors: Steven P. Rich).

"Value Line Forecasts and the Predictability of Long-Horizon Stock Returns," presented at the Baylor Finance Seminar Series, Baylor University, 1991 (coauthors: Steven P. Rich).

"Value Line Forecasts and the Predictability of Long-Horizon Stock Returns," presented at the Texas Finance Symposium, Baylor University, 1991 (coauthors: Steven P. Rich).

Contributions to Practice

"Meeting Retirement Goals: Frequently Asked Questions as to How the Tax Efficiency of Different Retirement Savings Vehicles Impact Wealth and Income Ob," presented at the Charles Schwab, Inc. Institutional Speaker Series, Baylor University, October 2001.

"Long-Run Prospects for U.S. Stocks," presented at the TIAA-CREF Institute and its Financial Advisors Advisory Board while serving as a TIAA-CREF Institute Visiting Scholar, New York, August 2001.

"Efficiency of Municipal Bond Funds," presented at the TIAA-CREF Institute and its Financial Advisors Advisory Board while serving as a TIAA-CREF Institute Visiting Scholar, New York, April 2001.

"IRA Conversion & Taxes: Stock Market Prospect," presented at the Economic Forecast Conference, Baylor University Hankamer School of Business & Greater Waco Chamber of Commerce, 1999.