Jeremy James Siegel (born November 14, 1945) is the Russell E. Palmer Professor of Finance at the Wharton School of the University of Pennsylvania in Philadelphia, Pennsylvania. Siegel comments extensively on the economy and financial markets. He appears regularly on networks including CNN, CNBC and NPR, and writes regular columns for Kiplinger's Personal Finance and Yahoo! Finance. Siegel's paradox is named after him.
Siegel was born in Chicago, Illinois, and graduated from Highland Park High School. He majored in mathematics and economics as an undergraduate at Columbia University, graduating in 1967, and obtained a Ph.D. from MIT in 1971. He taught at the University of Chicago for 4 years before moving to the Wharton School of the University of Pennsylvania. As of 2007, Siegel was advisor to WisdomTree Investments, a sponsor of exchange-traded funds; he owed about 2% the company then worth an estimated $700 million.
He has been a frequent guest on the business TV program Kudlow & Company on CNBC, hosted by Lawrence Kudlow. Siegel, like Kudlow, tends to favor supply-side economics. Siegel is also a lifelong friend of Robert Shiller, an economist at the Yale School of Management, whom Siegel has known since their MIT graduate school days. 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.
Siegel has said that Initial Public Offeringss, stock sold by new companies, typically disappoint. In his The Future for Investors: Why the Tried and the True Triumph Over the Bold and the New (Crown Business, 2005), Siegel analyzed 9,000 IPOs between 1968 and 2003 and concluded that IPOs consistently underperformed a small-cap index in nearly four out five cases. Others[who?] disagree.
Some have criticized Professor Siegel for being bullish on the stock market back in 2000. In a BusinessWeek interview in May 2000 when asked about the stock market, he replied:
"Seven percent per year [average] real returns on stocks is what I find over nearly two centuries. I don't see persuasive reasons why it should be any different from that over the intermediate run. In the short run, it could be almost anything."
That being said, Professor Siegel was correct when he also stated in the same interview:
"I have voiced my concern about the technology sector, and I sometimes advise people to shade down from that sector relative to its percentage in the [Standard & Poor's 500-stock index.] I really am concerned with these companies that have p-e ratios of 90, 100, and above. I still think stocks, as a diversified portfolio, are the best long-run investment. I will say that indexed bonds at 4% are an attractive hedge at the present time. To get a 4% real rate of return, although it's not as high as 6.5% to 7% that we talked about in stocks, as a guaranteed rate of return is certainly comforting against any inflation."
On March 14, 2000, The Wall Street Journal published an opinion piece by Siegel titled: "Big-Cap Tech Stocks Are a Sucker Bet". The piece issued warnings against investing in some of the hottest technology stocks during the dot com bubble.
- The Future for Investors: Why the Tried and the True Triumph Over the Bold and the New (2005).
- Stocks for the Long Run: The Definitive Guide to Financial Market Returns and Long-Term Investment Strategies, McGraw-Hill (1994), ISBN 0-07-149470-7.
- Revolution on Wall Street: The Rise and Decline of the New York Stock Exchange (1993).
- David R. Henderson, ed. (2008). "Stock Market". Concise Encyclopedia of Economics (2nd ed.). Indianapolis: Library of Economics and Liberty. ISBN 978-0865976658. OCLC 237794267.
1994: Best Business School Professor in worldwide ranking, Business Week
2002: Lindback Award for outstanding university teaching
1996, 2005: Helen Kardon Moss Anvil Award for outstanding MBA teaching
2005: Nicholas Molodovsky Award by the Chartered Financial Analysts Institute to “those individuals who have made outstanding contributions of such significance as to change the direction of the profession and to raise it to higher standards of accomplishment.” 
- "Jeremy Siegel". Finance Department. Retrieved 2020-09-09.
- "WisdomTree ETFs Target Earnings, But Can Start-up Turn A Profit?". 2007. Retrieved 2007-03-03.
- Siegel, Jeremy L. (2000). [https://www.wsj.com/articles/SB952997047343478041 Big-Cap Tech Stocks Are a Sucker's Bet". The Wall Street Journal, accessed 27 November 2021 (paywall).
- "CFA Institute Awards". CFA Institute.