David Kotok

David Kotok co-founded Cumberland Advisors in 1973 and served as its Chief Investment Officer through 2024. He remains a Strategic Advisor at Cumberland. David’s articles and financial market commentaries have appeared in the New York Times, the Wall Street Journal, Barron’s, and other publications. He is a frequent contributor to Bloomberg TV and Bloomberg Radio, Yahoo Finance TV, and other media.

He has authored or co-authored five books, including The Fed and the Flu: Parsing Pandemic Economic Shocks (released February 2025), the second edition of From Bear to Bull with ETFs and Adventures in Muniland. He has also written two monograph pamphlets, “Lessons from Thucydides,” which details information asymmetries and their implications for investors and world affairs, and “Zika,” a work which compiles David’s research, interviews, and personal experience concerning the Zika virus and its potential for serious damage in the way of health and monetary costs. He holds a B.S. in economics from the Wharton School of the University of Pennsylvania, an M.S. in organizational dynamics from the School of Arts and Sciences at the University of Pennsylvania, and an M.A. in philosophy from the University of Pennsylvania.

David has served as Program Chairman of the Global Interdependence Center (GIC), www.interdependence.org and currently serves on the GIC Advisory Council and the GIC College of Central Bankers Advisory Board. GIC’s mission is to bring together a network of international experts in policymaking, central banking, industry, and academia to explore issues and policies concerning global interdependence impacting world economies and quality of life. David chaired its Central Banking Series and organized a five-continent dialogue held in Cape Town, Hong Kong, Hanoi, Milan, Paris, Philadelphia, Prague, Rome, Santiago, Singapore, Tallinn, and Zambia (Livingstone). He has received the Global Citizen Award from GIC for his efforts.

David is a member of the National Business Economic Issues Council (NBEIC), the National Association for Business Economics (NABE), has served on the Research Advisory Board of BCA Research, and currently serves on the advisory board of RiskBridge Advisors. He has also served as a Commissioner of the Delaware River Port Authority (DRPA) and on the Treasury Transition Teams for New Jersey Governors Kean and Whitman. Additionally, he has served as a board member of the New Jersey Economic Development Authority and as Chairman of the New Jersey Casino Reinvestment Development Authority. Finally, he is a founding member of Florida’s Climate Adaptation Center (CAC) and was recognized as one of CAC’s  2025 Climate Champions for his financial support, his assistance in organizing programing, and his efforts to promote the work of CAC.