Toby Moskowitz is a leading expert in financial markets and investments, including the behavior of asset prices and investors. Professor Moskowitz’s research covers a diverse set of topics, including market efficiency, stock price anomalies, and the price impact of trades. He has examined portfolio choice and the returns to active and passive investing. In addition, he has analyzed the carry trade in commodities and currencies. He has also done work in sports analytics, sports betting, and the business of sports.
Professor Moskowitz has extensive expertise with trading and securities issues that are central to matters involving equities, mutual funds, exchange-traded funds (ETFs), and Section 10(b) and Section 11 claims. He is also deeply versed in portfolio selection, performance evaluation, and investment management issues that are central to a variety of matters involving mutual and hedge funds.
Widely published, Professor Moskowitz’s work has appeared in the premier economics and finance journals. He also coauthored a bestselling book, Scorecasting, on sports analytics. Professor Moskowitz has received numerous awards for outstanding scholarship, notably the prestigious Fischer Black Prize, a biennial award recognizing young researchers for original research relevant to the practice of finance.
Professor Moskowitz regularly presents his research at academic, corporate, and government institutions worldwide. The Wall Street Journal, New York Times, and Financial Times have cited his work, and he has discussed finance issues on CNBC’s Closing Bell and Bloomberg, among others.
At Yale, Professor Moskowitz teaches courses in quantitative investing, applied quantitative finance, empirical asset pricing, and sports analytics to master’s and Ph.D. students. Previously, he served for seventeen years on the faculty of the University of Chicago Booth School of Business. Professor Moskowitz is a research associate at the National Bureau of Economic Research (NBER).
Professor Moskowitz serves as a principal and senior researcher at AQR Capital Management LLC, a global quantitative hedge fund.