|
I am an Assistant Professor of Finance at the David Eccles School of Business, University of Utah. I received my Ph.D. from Stanford Graduate School of Business in 2019.
I work on understanding how demand and supply shape asset prices. My earlier papers show that mutual fund flow-induced trading explain 30% of size and value factor movements, style comovement, and (a component of) momentum profitability. What is the mechanism? It turns out that the price impact of demand, somewhat surprisingly, is larger in more aggregate portfolios. Further, unlike in traditional frictionless models, demand is naturally inelastic in long-lived assets with hard-to-hedge risks. Here is my CV. You can reach me at [email protected]. |
Image: Llamas in Machu Picchu |