Financial Economist and Professor at the Yale School of Management
Tobias Moskowitz: Biography at a Glance
- Tobias “Toby” Moskowitz is the inaugural Dean Takahashi and Professor of Finance at Yale School of Management and a Principal at leading global investment management firm, AQR.
- He serves as a research associate for the National Bureau of Economic Research, is a current associate editor of the Journal of Finance, and a former editor of the Review of Financial Studies
- His research studies financial markets and investments, including topics as diverse as 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.
- He wrote the bestselling book Scorecasting with Jon Wertheim of Sports Illustrated, which uses economic principles to explain the hidden side of sports.
- Moskowitz is a sought-after speaker known for translating and applying complex economic principles to various industries in order to understand current events and future trends.
- Moskowitz was recognized by the American Finance Association with its Fischer Black Prize, which is awarded to the top finance scholar in the world under the age of 40 in recognition of his “ingenious and careful use of newly available data to address fundamental questions in finance.”
Videos
Biography
Tobias “Toby” Moskowitz was named the inaugural Dean Takahashi ’80 B.A., ’83 M.P.P.M. Professor of Finance at Yale SOM in 2016.
He was previously the Fama Family Professor of Finance at the University of Chicago Booth School of Business, where he had taught since 1998. 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. The award cited his “ingenious and careful use of newly available data to address fundamental questions in finance.”
His work has been cited in The Wall Street Journal, The New York Times, Financial Times, U.S. News & World Report, Money magazine, and a 2005 speech by former Federal Reserve Chairman Alan Greenspan. He has also appeared on CNBC’s Closing Bell and Squawk Box, CNN, FOX, and Bloomberg.
Professor Moskowitz serves as a research associate for the National Bureau of Economic Research and is a former editor of the Review of Financial Studies and a current associate editor of the Journal of Finance. His research studies financial markets and investments, including the behavior of prices and investors. He has explored topics as diverse as 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. He has presented his research at many academic, corporate, and government institutions worldwide.
Professor Moskowitz spent the 2007-2008 and 2014-2015 academic years on leave at AQR Capital Management, LLC a hedge fund in Greenwich, CT, with which he has an ongoing consulting relationship and for which he is a principal.
He wrote the best-selling book, Scorecasting: The Hidden Influences Behind How Sports Are Played and Games Are Won, co-authored with L. Jon Wertheim of Sports Illustrated, which uses economic principles to explain the hidden side of sports.
Born in West Lafayette, IN, Moskowitz earned a bachelor's degree in industrial management and industrial engineering (with distinction) in 1993 from Purdue University, a master’s degree in management from Purdue in 1994, and a Ph.D. in finance from UCLA in 1998. He resides in Connecticut with his wife, Bonnie, and their four children.
Topics
Are We Heading Into Another Economic Crisis? If So, What Do We Do?
In this captivating talk, Professor Moskowitz delves into the pressing question: "Are We Heading Into Another Economic Crisis?" Drawing upon his expertise in macroeconomics, he not only explores the current state of affairs but also identifies the potential challenges that lie ahead. Offering insights on navigating and mitigating these challenges from an investment standpoint, he shows how traditional remedies may prove inadequate during a crisis and that the need for alternative solutions may be critical for surviving future crises. Throughout the talk, Professor Moskowitz skillfully combines academic rigor with engaging storytelling. By weaving entertaining sports stories and colorful anecdotes, he brings to life the complexities of forecasting economic crises and how investors can protect themselves from market turmoil. Attendees can expect to gain valuable knowledge and a fresh perspective on economic crises, leaving them better equipped to navigate an ever-changing investment landscape.
Will Artificial Intelligence Replace Us? (It Depends on Your Occupation)
In this talk, Professor Moskowitz discusses the current state of AI and its impact on our professional lives. Using simple examples, he highlights how AI can influence businesses, both positively and negatively. Delving into academic research, he reveals the jobs, industries, and occupations that are most affected by AI and are likely to continue to be – focusing on which jobs will see AI as a substitute or a complement and who will benefit or be hurt the most by it. Speculation about the future of AI across various fields, including medicine, investment management, sports, and dating, his insights are presented through entertaining stories, all backed by a wealth of academic scientific evidence. Professor Moskowitz brings the depth of academic research to life through clever examples and stories that provide a powerful narrative.
How Do We Make Better Decisions?
Professor Moskowitz uses relatable everyday examples and engaging sports narratives to explore behavioral biases that negatively impact our decision-making. His presentation delves into biases that stem from a misunderstanding of the role of luck, overconfidence, and a tendency to focus more on losses than gains, all of which can impair good decision-making. Understanding these biases can help us make better economic decisions, both in business and in our personal lives. Professor Moskowitz supports his insights with a wealth of academic scientific evidence, presented through entertaining sports stories and colorful anecdotes. Professor Moskowitz brings the depth of academic research to life, providing a powerful narrative that is both educational and enjoyable.
