In 1984, THEODORE R. ARONSON (MBA, BS, Wharton), 65, founded AJO (formerly ARONSON JOHNSON ORTIZ, Aronson+Partners, and Aronson+Fogler). AJO is an institutional investment manager with $28 billion under management.
Ted joined Drexel Burnham Lambert in 1974 while still a graduate student. He was a member of the Quantitative Equities Group, which provided innovative practical applications of Modern Portfolio Theory and quantitative portfolio management. This group managed the Revere Fund, the first actively managed fund registered with the SEC to employ Modern Portfolio Theory. Prior to forming AJO, Ted founded Addison Capital Management. Ted was past chair of the CFA Institute and the Association for Investment Management & Research and is a CFA charterholder. He chaired AIMR’s Trade Management Guidelines Task Force. Ted is a trustee of Spelman College and chair of its investment committee. He was a Lecturer in Finance at The Wharton School and is a frequent speaker on Wall Street issues, especially innovations in trading methods to minimize transaction costs — including a session at Salomon Brothers’ training program. (Salomon’s training program was immortalized in Michael Lewis’ Liar’s Poker. When Ted spoke, however, he was not pelted by spitballs!)