Authors

Robert Novy-Marx

Robert Novy-Marx is the Lori and Alan S. Zekelman Distinguished Professor of Business Administration at the Simon Business School at the University of Rochester. Novy-Marx’s research focuses primarily on asset pricing, both theoretical and empirical, though he also works in industrial organization, public finance, and real estate. His work has been published in the Journal of Financial Economics, the Financial Analysts Journal, the American Economic Journal: Economic Policy, and the Journal of Finance, among other publications.

His accolades include the 2012 Whitebox Advisors Selected Research Prize (second place); the Fama-DFA Prize for the best capital markets/asset pricing paper in the Journal of Financial Economics in 2012 and 2013; the 2012 AQR Insight Award Distinguished Paper Prize; the 2011 Smith-Breeden Prize for the best capital markets paper in the Journal of Finance; the 2011 Spangler IQAM Prize for the best paper in the Review of Finance; the 2010 Mill’s Prize for the best paper in real estate economics; the American Real Estate and Urban Economics Association Dissertation Award in 2005 and the Western Finance Association’s Trefftz Award in 2004 for “An Equilibrium Model of Investment Under Uncertainty.” His “Hot and Cold Markets” paper won the 2010 Mill’s Prize for the best paper in real estate economics.

Novy-Marx has shared his expertise with numerous media outlets, including The Economist; The Wall Street Journal, The New York Times, The Financial Times, and Bloomberg/Businessweek.

Novy-Marx, a member of the National Bureau of Economic Research, taught at the Booth School of Business at the University of Chicago before coming to Simon Business School in 2010. He is a graduate of Swarthmore College and received his PhD from the University of California, Berkeley.

Mihail Velikov

Mihail Velikov is an assistant professor of finance at the Smeal College of Business at Penn State University. His research is in empirical asset pricing, with a focus on stock market anomalies, transaction costs, and monetary policy. His work has been accepted for publication in the Journal of Finance, Journal of Financial Economics, Review of Financial Studies, Journal of Financial and Quantitative Analysis, Financial Analysts Journal, and the Critical Finance Review.

Prior to Penn State, Mihail spent four years at the Quantitative Supervision and Research group of the Federal Reserve Bank of Richmond, where in his last year he co-led the Federal Reserve System’s DFAST supervisory modeling team responsible for stress testing AFS/HTM securities and HFS/FVO loans. He holds bachelor’s degrees in mathematics and finance from Ramapo College, and an MSBA in applied economics and a doctorate in finance from the Simon Business School at the University of Rochester.