Jeremy James Siegel (born November 14, 1945) is an American economist who is the Russell E. Palmer Professor of Finance at the Wharton School of the University of Pennsylvania.
Siegel's position on bonds has been disputed, with critics proposing his data is flawed due to use of unreliable information from earlier sources.
[3][4] For stocks, Siegel recommends relying primarily or exclusively on index funds when possible, as active management tends to underperform market averages over long periods.
His research found dividend-paying stocks tend to offer superior long-term performance, as they are associated with profitable mature companies that hold up well during bear markets and recessions, and are also more likely to be reasonably valued.
Siegel recommends substantial international stock holdings, up to 40-50%, to avoid home country bias and obtain a broader variety of options.
For valuation, Siegel recommends stocks or indexes that are fairly valued or undervalued while avoiding sectors that are overvalued or trendy, as they tend to offer poor long-term results.
Siegel's academic research showing dividend-paying companies tend to offer superior long-term performance with lower risk has influenced the construction of indexes used for WisdomTree Investments, a provider of exchange traded funds.
Siegel and Shiller have frequently debated each other on TV about the stock market and its future returns, and have become financial media celebrities, regularly appearing on CNBC.
On March 14, 2000, The Wall Street Journal published an opinion piece by Siegel titled: "Big-Cap Tech Stocks Are a Sucker Bet".