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Lasse H. Pedersen

is a finance professor at Copenhagen Business School and NYU 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 Federal Reserve Bank of New York to address liquidity issues, in the New York Fed’s Monetary Policy Panel, in the Economic Advisory Boards of NASDAQ and FTSE, and on the editorial boards of the Journal of Finance, Journal of Economic Theory, The Review of Asset Pricing Studies, and Quarterly Journal of Economics. His academic awards include the Bernácer Prize to the best E.U. economist under 40 years of age, the Banque de France-TSE Prize, the Fama-DFA Prize, and the Michael Brennan Award. Lasse received his B.S. and M.S. from University of Copenhagen and his Ph.D. from Stanford University Graduate School of Business.

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Lasse H. Pedersen: Efficiently Inefficient: How Smart Money Invests and Market Prices Are Determined

Building on new research and a widely acclaimed book, this presentation explains some of the trading strategies used by top investors such as George Soros and John Paulson, why they work, and whether investors can expect benefit from these strategies after asset management fees. The talks explores why financial markets are neither fully efficient, nor very inefficient, but, rather, somewhere in between, an insight that helps explain how market prices and asset management fees are determined.

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Last modified: 2018.11.30.