Wesley R. Gray, Ph.D.

//Wesley R. Gray, Ph.D.

About Wesley R. Gray, Ph.D.

After serving as a Captain in the United States Marine Corps, Dr. Gray earned a PhD, 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 that delivers affordable active exposures for tax-sensitive investors. Dr. Gray has published four books and a number of academic articles. Wes is a regular contributor to multiple industry outlets, to include the following: Wall Street Journal, Forbes, ETF.com, and the CFA Institute. Dr. Gray earned an MBA and a PhD in finance from the University of Chicago and graduated magna cum laude with a BS from The Wharton School of the University of Pennsylvania.

Tax-Efficient Investment Strategies: How Should We Invest in Treasury Bonds?

By | 2017-08-18T16:55:57+00:00 April 6th, 2015|Research Insights, Tactical Asset Allocation Research, $SPY, $IEF, Managed Futures Research|

We investigate various methods to express a 10-Year Treasury Bond allocation. The primary issue with Treasury Bonds is their lack of tax-efficiency. T-bond income (and CPI adjustments in the case of TIPS) are taxed as [...]

Risk Management Rules on Australian Equities

By | 2017-08-18T16:57:51+00:00 April 2nd, 2015|Research Insights, Tactical Asset Allocation Research, $ewa|

A friend of the blog was inspired by our Robust Asset Allocation discussion, and conducted some backtests using our proposed risk management framework: 50% simple moving average rule (MA) 50% time series momentum rule (TSMOM) For naming [...]

Where to Find Cool Academic Finance Research

By | 2017-08-18T16:52:21+00:00 April 1st, 2015|Introduction Course|

Over the past 10+ years I've cultivated a laundry list of websites associated with financial economics. My primary focus has been identifying sources for new ideas that are creative, unique, and have application in the real-world. Interestingly [...]

Investing in High Dividend Yield Stocks: a Sucker Bet? Maybe Not This Time Around

By | 2017-08-18T17:01:44+00:00 March 24th, 2015|$dtd, Value Investing Research, Yahoo Tickers|

Beware of any investment that has the word, "yield," embedded in the title. This is especially important for "dividend yield" strategies. Because the term makes investors salivate, marketing-focused asset managers leverage this knowledge to sell unsuspecting [...]

Individual Investors and the Moving Average Rule

By | 2017-08-18T17:03:07+00:00 March 23rd, 2015|Research Insights, Tactical Asset Allocation Research|

Trading on Noise: Moving Average Trading Heuristics and Private Investors Etheber, Hackethal and Meyer A version of the paper can be found here. Want a summary of academic papers with alpha? Check out our Academic Research Recap [...]