Practical analysis for investment professionals

Wesley Gray, PhD

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7 Posts


After serving as a Captain in the United States Marine Corps, Wesley R. Gray received a PhD, and was a finance professor at Drexel University. Dr. Gray’s interest in entrepreneurship and behavioral finance led him to found Alpha Architect, a research-driven firm that advises Active ETFs (ValueShares) and managed accounts for family offices and high-net-worth individuals. Dr. Gray earned an MBA and a PhD in finance from the University of Chicago and graduated magna cum laude with a BS from The Wharton School of the University of Pennsylvania.

Author's Posts
Why Savers Might Miss Out on the Benefits of Higher Interest Rates

Do higher interest rates actually lead to higher returns on savings? Research shows a 1% increase in interest rates by the US Federal Reserve equals a 0.34% increase in the rates paid by banks on savings deposits. Why do savers fail to capture the benefits of higher interest rates?

Where’s the Beef?! Is Your Low-Fee Smart Beta Product Ripping You Off?

So what do hamburgers and price per pound have to do with equity-oriented long-only smart beta products? A lot more than you think.

Are Low Interest Rates Driven by the Fed or by Fear?

Next time you hear a pundit or an investor complain that the Fed is keeping rates too low, consider the evidence that suggests rates are low because nobody really has a grasp on which direction future growth may go.

All Firms Can Benefit from the Positive Influence of Women

The progress of women in the workplace is leading to a better balance of behaviors and attitudes, which in turn should lead to better corporate, social, and economic outcomes.

Rise of the Machines: Winners and Losers in the Robo-Adviser Battle

How is the war between robo-advisers and traditional registered investment advisers (RIAs) going to play out? Wesley Gray offers some predictions on the potential losers and winners based on the current trends in the market.

Stick to the FACTS: A Framework for Evaluating Investments

Looking for a framework for determining investment strategy selection and assessment? Choosing your investment opportunities simply comes down to the FACTS.

Mission Impossible: Beating the Market Forever

If value-weight market returns reflect a binding constraint on the collective investor experience, how long can an individual investor “beat the market” before he actually becomes the market? As it turns out, compound growth prevents skilled investors from beating the market forever.

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