Investment Cruise with CFA and Wiley Authors
Beautiful weather, sun, ocean, and...my ugly mug chatting about finance with some fellow authors--including my fellow blogger, Meb! A fun event in the making... Details below. [...]
About Wesley Gray, PhD
After serving as a Captain in the United States Marine Corps, Dr. Gray earned an MBA and a PhD in finance from the University of Chicago where he studied under Nobel Prize Winner Eugene Fama. Next, Wes took an academic job in his wife’s hometown of Philadelphia and worked as a finance professor at Drexel University. Dr. Gray’s interest in bridging the research gap between academia and industry led him to found Alpha Architect, an asset management firm dedicated to an impact mission of empowering investors through education. He is a contributor to multiple industry publications and regularly speaks to professional investor groups across the country. Wes has published multiple academic papers and four books, including Embedded (Naval Institute Press, 2009), Quantitative Value (Wiley, 2012), DIY Financial Advisor (Wiley, 2015), and Quantitative Momentum (Wiley, 2016). Dr. Gray currently resides in Palmas Del Mar Puerto Rico with his wife and three children. He recently finished the Leadville 100 ultramarathon race and promises to make better life decisions in the future.What Drives the S&P 500 Equal-Weight Premium? Size AND Value
First, a detailed analysis of the S&P 500 equal-weight index against the S&P 500 value-weight index from Jan 1963 through September 2013: The equal-weight S&P [...]
Dissertation Length and Pay: Less is More
Too bad dissertation length doesn't translate into more pay. History professors would be rich! Source: http://beckmw.wordpress.com/2013/04/15/how-long-is-the-average-dissertation/ Here is my completely non-scientific anecdotal economic [...]
Asset Managers with a PhD Outperform…
What a Difference a Ph.D. Makes: More than Three Little Letters Chaudhuri, Ivkovich, Pollet, and Trzcinka A version of the paper can be found here. Want [...]
Congress is Insider Trading
Informed Trading at Capitol Hill: Evidence from Congressional Trading Serkan Karadas A version of the paper can be found here. Want a summary of academic papers with [...]
Buffet’s Market Timing Signal: Expensive
First, you gotta read Warren Buffett's classic piece from 1999: http://money.cnn.com/magazines/fortune/fortune_archive/1999/11/22/269071/ Buffett highlights the inextricable tie between GDP growth and corporate profits. GDP growth is [...]
Don’t Pay Attention to CNBC CEO Interviews!
CEO Interviews on CNBC Young Han Kim and Felix Meschke A version of the paper can be found here. Want a summary of academic papers with [...]
Weekly Post Recap for November 2, 2013
Here are the articles we've posted for the past week on TurnkeyAnalyst.com for the week ended Saturday, November 2nd 2013. Article description and associated link: Focus [...]
Weekly Economic Calendar 11/4 to 11/8
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How Do You Take Your Commodity Exposure?
Commodities are an interesting asset class. A classic case of "Wall Street Trend following:" Sell products that have recently done extremely well. Prior to the [...]
Seasteading–A Solution for Government Gone Bad?
Option 1: Collect weapons, build a militia, and move forward with a revolution. Training sucks. Good shot at dying. Destroys capital and brainpower Option 2: [...]
Do Endowments Add Value? Unclear.
Do (Some) University Endowments Earn Alpha? Bence Toth, Enrico Scalas, Jurgen Huber and Michael Kirchler A version of the paper can be found here. Want a [...]
“Better Information” Does Not Equate to Better Returns
The value of information in a multi-agent market model Bence Toth, Enrico Scalas, Jurgen Huber and Michael Kirchler A version of the paper can be [...]
Weekly Post Recap for October 26, 2013
Here are the articles we've posted for the past week on TurnkeyAnalyst.com for the week ended Saturday, October 26th 2013. Article description and associated link: Man [...]
Man vs. Machine: Is there really a debate?
A friend sent a really great video of a robot rocking the high bar. I decided to piece together a video and have a little [...]
Minimum Variance Portfolios: Theory and Empirics at Odds
Sitting here working on my lecture for advanced investment management. I've been working through mean-variance-analysis and came across the good old-fashioned "Mean Variance Frontier." [...]
What Can Investors Achieve in the US Stock Market?
We did a fun project that sorts securites into decile portfolios based on the FUTURE 5-year returns and rebalances on a set interval. Yes, a [...]
Finally…Fama wins!
My old dissertation adviser at the University of Chicago -- Eugene Fama -- finally won the Nobel Prize! About dang time. I've been following the [...]
Rising Interest Rates: Finally some Informed Insights!
Paul Milnes and his team at Outsourced Financial Analytics has some thought-provoking commentary on bonds. He is running a 3 part series and the first 2/3 [...]
Activist Irony–Attacking Carl Icahn…ballsy!
Greenbackd has an interesting post on CADUS, a total piece of sh#$ I used to deal in when I was a "stock-picker." Reading the post [...]