About lasse heje pedersen a professor at copenhagen business school and new york university and a principal at aqr capital management, lasse heje pedersen is a. Lasse heje pedersen is a principal at aqr capital management and a finance. Value and momentum returns correlate more strongly across asset classes than passive. Paulson professor of selection from trend following, 5th edition book. He received the bernacer prize as the best european union economist under the age of 40, and he is the coauthor of market liquidity. Measuring systemic risk viral v acharya, lasse heje pedersen, thomas philippon, and matthew richardson new york university stern school of business. He has served as director of the american finance association, in the liquidity working group meeting at the federal reserve bank of new york to address liquidity issues, in the new york feds monetary policy panel, on. He has served as director of the american finance association, in the liquidity working group meeting at the federal reserve. The book analyzes how the market prices of stocks and bonds can differ from the. Lasse heje pedersen cbs copenhagen business school. Financial market behavior and key trading strategiesilluminated by interviews with top hedge fund experts efficiently inefficient describes the key trading strategies used by hedge funds and demystifies the secret world of active investing. Hedge funds in the aftermath of the financial crisis stephen brown, marcin kacperczyk.
A distinguished financial economist, he has won a number of awards, notably the bernacer prize, awarded to european economists under forty who have made outstanding. Efficiently inefficient princeton university press. How smart money invests and market prices are determined hardcover april, 2015. To order reprints of this article, please contact david rowe at d. Leading financial economist lasse heje pedersen combines the latest. Lasse heje pedersen creates a great textbook, especially those new to finance, to explore the different realm of funds available in the hedge fund world. Join facebook to connect with lasse pedersen and others you may know. Market liquidity by yakov amihud, 97805219656, available at book depository with. Paulson professor of finance and alternative investments. Efficiently inefficient lasse heje pedersen haftad. Efficiently inefficient by lasse heje pedersen hardcover. Leading financial economist lasse heje pedersen combines the latest research with realworld examples and interviews with top.
He has served as director of the american finance association, in. Pedersen is both a principal at aqr capital management and a finance. Lasse heje pedersen is a finance professor at copenhagen business school and new york universitys stern school of business, and a principal at aqr capital management. He has served as director of the american finance association, in the liquidity working group meeting at the. He has published a number of influential research papers on asset pricing, liquidity risk, and trading strategies, which have been cited by ben bernanke and other.
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Illiquidity means incurring a high transaction cost, which includes a large price impact when trading and facing a long time to unload a large position. Vv acharya, lh pedersen, t philippon, m richardson. Oct 07, 2016 i challenge sharpes 1991 famous equality that before costs, the return on the average actively managed dollar will equal the return on the average passively. Contact all american speakers bureau to inquire about speaking fees and availability, and book the best keynote speaker for your next event. Leading financial economist lasse heje pedersen combines the latest research with realworld examples and interv. Efficiently inefficient by pedersen, lasse heje ebook. The books strategies are illuminated further by interviews with leading hedge. He explores equity strategies, macro strategies, and arbitrage strategies, and fundamental tools for portfolio choice, risk management, equity valuation, and yield curve trading.
Leading financial economist lasse heje pedersen combines the latest research with realworld examples and interviews with top hedge fund managers to show how certain trading strategies make moneyand why they sometimes dont. Lasse heje pedersen is professor of finance at copenhagen business school, a principal at aqr capital management, and a research fellow at the centre for economic policy research cepr. This book presents the theory and evidence on the effect of market liquidity and liquidity risk on asset prices and on overall securities market performance. Lasse heje pedersen books and biography waterstones. Lasse heje pedersen is a principal at aqr capital management and a professor of finance at copenhagen business school and new york university stern school of business. Efficiently inefficient describes the key trading strategies used by hedge funds and demystifies the secret world of active investing. Financial market behavior and key trading strategiesilluminated by interviews with top hedge fund experts efficiently i. He discusses various types of strategies and goes into the detail the different foundational elements and economics that make up each strategy process. Viral v acharya, lasse heje pedersen, thomas philippon, and. Lasse pedersen is a gifted financial market theorist who understands that theory is most satisfying when it is combined with a deep practical understanding of institutional detail and market frictions. Andrea frazzini, david kabiller, and lasse heje pedersen first draft. The book benefits enormously from its authors career path lasse h.
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