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James Cloonan

author Image James B. Cloonan is founder and chairman of AAII.

Articles by this Author


James B. Cloonan earned his MBA from the University of Chicago and his B.A. and Ph.D. from Northwestern University. After teaching for several years in 1974 he helped found and served as CEO of Heinold Securities, a brokerage firm specializing in derivatives. After selling his interest in that firm, he returned to teaching and began the preliminary work leading to the founding of the American Association of Individual Investors in 1978 and is currently chairman of AAII.

Cloonan is the author of books and articles on investing and writes the Model Portfolios column for the AAII Journal. He created and manages the Model Shadow Stock Portfolio, which has realized an annualized return of over 15% for the past 23 years.

Cloonan has served on several industry and regulatory panels, including the Consumer Advisory Council of the National Futures Association, the Advisory Panel on Securities Markets and Information Technology of the Congressional Office of Technology Assessment, the NASD Special Committee on the Quality of Markets, the New York Stock Exchange Panel on Market Volatility and Investor Confidence, the Chicago Mercantile Exchange Financial Instruments Advisors Committee, the New York Stock Exchange Individual Investors Advisory Committee, and The Consumer Affairs Advisory Committee of the Securities and Exchange Commission.

He lives with his wife Edythe in Chicago.

Articles by this Author

  1. AAII Model Portfolios »

    Sub-Par Performance by Market in Pre-Election Year Drama

    The Model Mutual Fund Portfolio did considerably better than the S&P 500 last year, coming in at 10.2%, but with disparity within the portfolio. Its superior performance was due to one fund.

    February 2008 | Journal

  2. AAII Model Portfolios »

    2007 Proves Underwhelming for Small Caps and Value Stocks

    A year-end review of the AAII Model Shadow Stock Portfolio.

    January 2008 | Journal

  3. AAII Model Portfolios »

    Model ETF Portfolio: Stay the Course Despite Headwinds

    The Model ETF Portfolio is lagging its benchmark due to its purposeful bias toward REITs, small-cap stocks and value stocks.

    November 2007 | Journal

  4. AAII Model Portfolios »

    Third Year of an Election Cycle: Volatility Returns to the Market

    This has not been a typical pre-election year--but there are still several months to go before year-end. Despite volatile returns, the Model Shadow Stock Portfolio is up 7.5% for the year, compared to 5.1% for the S&P 500. Our quarterly review.

    October 2007 | Journal

  5. AAII Model Portfolios »

    Model ETF Portfolio Adds Foreign Funds to the Mix

    A closer look at AAII's new experimental ETF portfolio, including which ETFs are in the portfolio, the selection rationale, and why foreign ETFs are being added.

    August 2007 | Journal

  6. AAII Model Portfolios »

    Mutual Fund Portfolio Tracks Market, Stumbles and All

    The Mutual Fund Portfolio is doing well year-to-date, up 9.7% compared to 7.5% for the total stock market. A portfolio review.

    August 2007 | Journal

  7. AAII Model Portfolios »

    A Choppy Ride Up for Market and Shadow Stock Portfolio

    The market creeps gradually upward, as does the AAII Model Shadow Stock Portfolio. If the market continues at its current pace for the balance of the year, we will have the normal "year before the election" return of around 23%. On the bearish side, inflation is still a concern; on the bullish side, there now are a number of bearish analysts.

    July 2007 | Journal

  8. AAII Model Portfolios »

    Model Shadow Stock Portfolio Survives Market Volatility

    The Shadow Stock Portfolio is doing better than the market in what is either a resumption of the long-term uptrend or a short-term respite from a lengthier downtrend. Although the market trend will soon be clear, for buy-and-holders it doesn't make much difference.

    April 2007 | Journal