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.

Good Timing, Meb

By | 2017-08-18T17:04:35+00:00 December 14th, 2012|Uncategorized|

I spent a few hours writing up a post mapping out the likelihood of 2-3% real returns over the next 15 years... Then Meb posts this: http://www.mebanefaber.com/2012/12/13/2-real-for-a-decade/ Asness says 2% real returns for the next [...]

Dividing Value into “Priced” and “Mispriced”

By | 2017-08-18T17:06:41+00:00 November 3rd, 2012|Research Insights, Value Investing Research|

Gerakos and Linnainmaa have a new paper out: http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2083166 and http://www.asb.unsw.edu.au/schools/bankingandfinance/Documents/J.Gerakos,%20J.T.%20Linnainmaa%20-%20The%20Unpriced%20Side%20of%20Value.pdf Here is code to perform the decomposition: http://faculty.chicagobooth.edu/juhani.linnainmaa/ValueDecomposition.do   Summary Book-to-market (BE/ME) ratios explain variation in expected returns because they correlate with recent changes [...]

Cloud-Based Financial Advisers

By | 2017-08-18T17:08:02+00:00 August 28th, 2012|Research Insights|

Wall Street is VERY afraid! There are a wave of internet-based financial advisers working hard to save you fees. http://www.marketriders.com/ https://www.futureadvisor.com/learn_more https://www.wealthfront.com/ The Quick Math: $1,000,000 at a "reasonable" financial adviser fee of 50bps a [...]