Buffett's Alpha

OCT
13
Tuesday, 5:30 pm - 7:30 pm
 
Location: Intercontinental Hotel, Century City
2151 Avenue of Stars
Los Angeles, CA 90067
 
Speaker: Andrea Frazzini, Ph.D.
 
Time: 5:30 pm - 6:30 pm: Networking/Cocktails + Appetizers
6:30 pm - 7:30 pm: Presentation
 
Dress: Business Casual
   
 
Add to Calendar 10/13/2015 5:30 PM 10/13/2015 7:30 pM America/Los_Angeles Buffet's Alpha Essentially analyzing Buffett’s returns using conventional size, value, and momentum factors haven’t been able to adequately explain his outperformance leaving admirers to conclude that Buffett’s magic is pure alpha. Intercontinental Hotel, Century City 2151 Avenue of Stars Los Angeles, CA 90067 CFALA info@cfala.org false MM/DD/YYYY

Recording & Presentation (Members-Only)

An Applied Behavioral Finance Group Event

Essentially analyzing Buffett’s returns using conventional size, value, and momentum factors haven’t been able to adequately explain his outperformance leaving admirers to conclude that Buffett’s magic is pure alpha. AQR extended the analysis by testing Buffett’s impressive returns — as measured by Berkshire’s stock — against two factors that better reflect his folksy investing wisdom: One called “Betting Against Beta,” which represents safe, low-beta stocks, and another called “Quality Minus Junk,” which represents the stocks of high-quality companies that are profitable, growing, and paying dividends.

Andrea Frazzini, Ph.D. | Andrea Frazzini is a Principal on AQR’s Global Stock Selection team, focusing on research and portfolio management of the Firm’s Long/Short and Long-Only equity strategies. He is also an Adjunct Professor of Finance at New York University’s Stern School of Business. He has published in top academic journals and won several awards for his research, including the Smith Breeden Award, the Fama-DFA award, the BGI best paper award, the Bernstein Fabozzi/Jacobs Levy Award, and the PanAgora Crowell Memorial Prize.

Prior to AQR, Andrea was an associate professor of finance at the University of Chicago’s Graduate School of Business and a Research Associate at the National Bureau of Economic Research. He also served as a consultant for DKR Capital Partners and JP Morgan Securities and on the board of directors of the Center for Research in Security Prices at the University of Chicago. He earned a B.S. in economics from the University of Roma Tre, an M.S. in economics from the London School of Economics and a Ph.D. in economics from Yale University.

 

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Cancellations
Cancellations must be received in writing by 9:00 am the day prior to the event. No phone cancellations are accepted. Please fax to the CFALA office at (213) 613-1233 or e-mail info@cfala.org. Member “no-shows” will be billed the non-member fee ($60) for the event which is posted on the CFALA website.

Chair: 
Jon Williams, CFA
As a participant in the CFA Institute Approved-Provider Program, the CFA Society of Los Angeles has determined that this program qualifies for 1 credit hours. If you are a CFA Institute member, CE credit for your participation in this program will be automatically recorded in your CE Diary.
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