Here is what some are saying about
The Prudent Investor Act: A Guide to Understanding

After bringing his powerful message on passive investing to individual investors in his book, Index Mutual Funds, Scott Simon has turned his attention to trustees, attorneys, financial advisors and others involved in fiduciary investing. His new book, The Prudent Investor Act, presents a comprehensive and detailed analysis and explanation of the law and the facts concerning modern prudent fiduciary investing. It will quickly become an essential book on the library-shelf of every steward of other people's money.

John C. Bogle
Founder and former Chairman
The Vanguard Group

This book, by the author of Index Mutual Funds, explains the principles underlying the Uniform Prudent Investor Act and offers informed, thoughtful suggestions for trustees, their counsel and others for the management of trust and similar investment programs.

Edward C. Halbach, Jr.
Reporter, Restatement 3rd of Trusts (Prudent Investor Rule)
Professor Emeritus of Law, University of California, Berkeley

The reader who understands modern financial economics will benefit from Scott Simon's comprehensive discussion of the role of portfolio theory in trust investing. The reader who does not understand modern financial economics will benefit from Simon's non-mathematical lessons on the subject.

Harry M. Markowitz
Nobel Laureate in Economics and
The Father of Modern Portfolio Theory

Modern portfolio theory and traditional trust principles are the foundation of both ERISA and the Prudent Investor Act. Simon’s work advances the understanding – both practical and legal – by fiduciaries of their duties under the legal provisions of the Prudent Investor Act and serves to instruct them about its underlying principles.


Fred Reish
Charter Fellow, American College of Employee Benefits
Reish Luftman McDaniel & Reicher

This book is truly monumental. Every attorney who expects to advise anyone who is looking to create a trust or is trying to manage one - whether private or charitable - should read this book and keep it close at hand for future reference. It pulls together, in one place, clear descriptions of the many rules, theories, and related policy and procedural issues that must be understood and dealt with in providing prudent investment management in today’s legal environment. One hopes that this book will mark a turning point in the literature on fiduciary responsibility.

William L. Hoisington
Fellow, American College of Trust and Estate Counsel
Former trusts and estates partner
Orrick, Herrington & Sutcliffe LLP


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