Andrew W. Lo

Mark Kritzman, Senior Lecturer in Finance, has won the 2023 Harry M. Markowitz Award from the Journal of Investment Management (JOIM). In addition, Andrew W. Lo, Charles E. and Susan T. Harris Professor; Professor of Finance; and Director of the MIT Laboratory for Financial Engineering, was a finalist winning a 2023 Special Distinction Award. These awards honor Markowitz’s legacy and the seminal impact of his work as a financial economist and mathematician on both theoretical finance and the practice of asset management, by recognizing and supporting future research and innovation in practical asset management. Award candidates from among JOIM papers published in the past year are chosen by JOIM editors, and winners are selected by Nobel Prize laureate members of the JOIM Advisory Board.

Kritzman’s winning paper, “The Determinants of Inflation,” is co-authored with William Kinlaw (State Street Global Markets), Michael Metcalfe (State Street Global Markets), and David Turkington (State Street Associates).

Lo’s awarded paper, “Financing Fusion Energy,” is co-authored with Abdullah Alhamdan (Ministry of Communications and Information Technology of Saudi Arabia; MIT Sloan MBA ’21), Zachery M. Halem (Lazard; MIT SM ’21 in Operations Research), Irene Hernandez (Gataca; MIT Sloan MBA ’18), Manish Singh (Cubist Systematic Strategies; MIT Sloan Research Affiliate; MIT EECS PhD ’23), and Dennis Whyte (MIT Hitachi America Professor of Engineering and Director of the MIT Plasma Science and Fusion Center). This MIT Sloan article provides more information on the paper.

Andrew Lo, Miro Kazakoff, Joseph Doyle, Kristin Forbes, Arathi Mehrotra, Nikolaos Trichakis, Adrien Verdelhan, and Sean Willems have each won a 2021 Teaching with Digital Technology Award from MIT for their work teaching on campus and/or remotely. These student-nominated awards recognize faculty and instructors who have used digital technology to improve teaching and learning for MIT students. This recognition also gives the MIT community the opportunity to learn from their innovative practices.

The awards are co-sponsored by MIT Open Learning and the Office of the Vice Chancellor. This year students submitted a total of 230 nominations for 104 faculty and instructors, and 23 winners (35% from MIT Sloan) were selected by Dean for Digital Learning Krishna Rajagopal and Vice Chancellor Ian Waitz, in partnership with a panel of MIT students.  

Andrew W. Lo has been named Risk Manager of the Year for 2017 by the Global Association of Risk Professionals (GARP). Lo was cited for his “extensive and distinguished academic work and contributions to the risk management profession.” “Andrew is an inspiration to all of us who believe that risk management is everyone's responsibility and should be solidly embedded in the culture and decision-making processes of every organization,” said Richard Apostolik, GARP president and CEO. Apostolik added that Lo joins a distinguished line of honorees “who have contributed in exceptional ways to risk management and the risk profession.”

Andrew Lo and Kara Blackburn were each awarded the 2019 Jamieson Prize for Excellence in Teaching, established to honor educational innovation and excellence. The Jamieson Prize for Excellence in Teaching Award is the most prestigious teaching prize offered by the School. The award was established in 2006 and is awarded each year to two MIT Sloan faculty members, as well as two electrical engineering and computer science faculty members, for their contributions to educational excellence at MIT.

Andrew W. Lo’s book "Adaptive Markets: Financial Evolution at the Speed of Thought" (Princeton University Press, 2017) has won the 2018 Professional and Scholarly Excellence (PROSE) Award for Excellence in Social Sciences, from the Professional and Scholarly Publishing Division of the Association of American Publishers. The annual awards recognize “the very best in professional and scholarly publishing by bringing attention to distinguished books, journals, and electronic content in 58 categories” and have been judged since 1976 by peer publishers, librarians, and medical professionals. The award was presented during the PSP Annual Conference in Washington, D.C.

Andrew W. Lo is the winner of the 2018 Pinnacle Achievement Award from CME Group and BarclayHedge. This is the highest recognition of outstanding achievement among the Managed Futures Pinnacle Awards honoring top managed futures industry leaders. A video spotlighting Lo as the winner can be found here (scroll down for video to listen to his thoughts on his work).

Andrew W. Lo has won the 2017 Harry M. Markowitz Award, sponsored jointly by the Journal of Investment Management and New Frontier Advisors, LLC. This annual award honoring the legacy of financial economist and mathematician Harry Markowitz supports future research and innovation in practical asset management. Lo’s winning paper, chosen from the 2017 papers published in JOIM, is entitled, “Moore’s Law vs. Murphy’s Law in the Financial System: Who’s Winning?” (Journal of Investment Management, 15(1):17-38).