Founded the bond market research department at Salomon Brothers and wrote the standard history of interest rates; died in 1983.
A History of Interest Rates assembles rate series from Babylonian loans through the twentieth century and is the only long-run record of what money has cost across monetary regimes, which is why every argument about whether current rates are high or low ends up citing it. Inside the Yield Book, with Martin Leibowitz, introduced total-return analysis of bonds and the arithmetic of duration and reinvestment that fixed income desks still use.
2 books of their own