Milton Ezrati, a native New Yorker, has always wanted to escape the city, which is why he chose a career in finance. (We all make mistakes). Even within that career, he has pursued contrasting objectives. While he has worked variously in quantitative research, portfolio management, and investment strategy, he has also always written for popular and professional publications. Over the years he has regularly published articles, largely on economic and financial matters, some focused on the domestic U.S. scene, others internationally. His last book, Kawari, took up Japan’s needed economic, policy, and diplomatic changes. Occasionally, when the economics and finance have led there, he has written on culture and society. Though he has never formally tried fiction, some have suggested that his professional pieces on investment prospects verge into that realm.
His formal career in finance began in 1971. That year he joined the economic research team at Citibank, then called First National City Bank. He moved to Chase and then to the investment manager, Lionel D Edie & Co., where he shifted from research to investment management. He continued with portfolio management at Manufacturers Hanover Investment Management Corporation. At Nomura Capital Management, the institutional investment arm of Japan’s largest broker-dealer, he invested all the dollar-based assets the firm gathered from clients — insurers, pension funds, and governments — across the globe. It also was at Nomura that he acquired the interest in Japan that resulted in Kawari. In 2000, he left Nomura to assume his present position as senior economist and market strategist for Lord, Abbett & Co. A private firm, he was asked into the Lord, Abbett partnership in 2004. Along the way, his career and his writing produced a welcome invitation to become an active affiliate of the Center for the Study of Human Capital and Economic Growth at the State University of New York at Buffalo.
Mr. Ezrati was educated in public schools in and around New York City, received a BA in economics from the State University of New York at Buffalo and a Master of Social Science (M.Soc.Sc.) from England’s University of Birmingham. He never escaped New York and presently resides in Manhattan. Escape attempts have, however, led him to take up notably un-urban hobbies, training saddle horses, cutting wood, the construction of stone walls, and gardening. He also enjoys skiing, hiking, travel, and, in moments of insanity, rock climbing.
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In the next three decades, Milton Ezrati argues that key societal and fiscal changes will affect the economies of our nations at large: an ever increasing pool...