Yale is uniquely positioned to educate students and foster cutting-edge research in the field of asset management.
In addition to academic excellence, the Yale SOM finance faculty also has years of applied experience in the industry. The curriculum will leverage this expertise, along with the experiences of professional asset managers, to cover the breadth of the investment field, including quantitative investment models, traditional approaches, and alternative investing.
The new degree program is being developed in close collaboration with the Yale Investments Office, a pathbreaking team of investors who pioneered the “Yale Model” and have outpaced all other major endowments over the last 30 years.
Dean Takahasi ’80 B.A., ’83 M.P.P.M. Professor of Finance;
Program Chair of the Master’s Degree in Asset Management
Moskowitz’s research interests include momentum in stock returns, biases in investment portfolios, the social effects of bank mergers, the return to private business ownership, mutual and hedge fund performance, the political economy of financial regulation, and the economics of sports. Professor Moskowitz was recognized by the American Finance Association with its 2007 Fischer Black Prize, which is awarded biennially to the top finance scholar in the world under the age of 40 in years when one is deemed deserving.
Chief Investment Officer, Yale Investments Office
Prior to joining YIO in 1985, Swensen worked on Wall Street for six years, focusing on developing new financial technologies. He has advised the President of the United States as a member of the President’s Economic Recovery Advisory Board.
Stephen and Camille Schramm Professor of Finance
Barberis’ research focuses on behavioral finance—in particular, on applications of cognitive psychology to understanding investor trading behavior and the pricing of financial assets.
Professor of Finance
Giglio’s research interests span several topics, including asset pricing, macroeconomics, and real estate, with a particular focus on volatility risk and on the term structure of asset prices across markets.
Conventional wisdom says that uncertainty is bad for markets. But when Yale SOM’s Stefano Giglio and his co-authors examined data on a wide range of options prices, they found that investors are willing to pay a premium to protect themselves against actual market volatility but not mere uncertainty. Their study hints that rising uncertainty may be a sign of good things to come.
Edwin J. Beinecke Professor of Finance and Management Studies & Director of the International Center for Finance
Goetzmann’s work has included studies of stock market predictability, hedge funds, and survival biases in performance management. His current research focuses on alternative investing, factor investing, behavioral finance, and the art market.
A new paper looking at how investors assess the risk of a stock market crash in the next six months argues that negative media coverage of markets can play a role in investment decisions.
Professor of Finance & Associate Director of the International Center for Finance
Kelly’s primary research fields are asset pricing and financial econometrics. He is interested in issues related to volatility, tail, and correction risk in financial markets; predictive methods in high dimensional systems; banking sector systemic risk; financial intermediation; and financial networks.