Toby Moskowitz is a leading expert in financial markets and investments, including equity, fixed income, commodity, and currency markets, as well as prediction markets. Professor Moskowitz has extensively researched the factors that drive security prices, including analyzing market efficiency and investor biases, and has also analyzed the impact of those factors in sports betting markets. He has examined portfolio choice and the returns to active and passive investing. Professor Moskowitz has also applied economic principles and data analytics to the business of sports.
Expertise in securities markets and investment management
Professor Moskowitz has extensive expertise with trading and securities issues that are central to matters involving equities, bonds, mutual funds, hedge funds, exchange-traded funds (ETFs), and Section 10(b) and Section 11 claims.
He is also deeply versed in portfolio selection, performance evaluation, and investment management issues that underpin various matters related to mutual funds and hedge funds. An expert on institutional and family wealth asset management, Professor Moskowitz is the founding director of Yale University’s Master’s in Asset Management program.
He researches and teaches the economics of prediction markets and sports betting markets, as well as quantitative investing.
Award-winning research
Professor Moskowitz’s research has been published in the premier economics and finance journals. He has received numerous awards for outstanding scholarship, notably the prestigious Fischer Black Prize, a biennial award recognizing young researchers for original research relevant to the practice of finance.
Professor Moskowitz has coauthored a New York Times-bestselling book on sports analytics, Scorecasting: The Hidden Influences Behind How Sports are Played and Games are Won. He regularly presents his research at academic, corporate, and government institutions worldwide. The Wall Street Journal, the New York Times, and the Financial Times have cited his work, and he has discussed finance issues on CNBC’s Closing Bell and Bloomberg, among others.
Academic and professional leadership in quantitative finance
At Yale, Professor Moskowitz teaches courses in quantitative investing, applied quantitative finance, empirical asset pricing, and sports analytics to master’s and Ph.D. students.
Previously, he served for seventeen years on the faculty of the University of Chicago Booth School of Business, where he held the inaugural Fama Family Chaired Professorship in Finance. Professor Moskowitz is a research associate at the National Bureau of Economic Research (NBER). He currently holds the inaugural Dean Takahashi Chaired Professorship at Yale.
Professor Moskowitz serves as a principal and senior researcher at AQR Capital Management LLC, a global quantitative hedge fund.
He also sits on the board of trustees at Commonfund, a nonprofit investment firm that provides outsourced chief investment officer services to endowments and foundations. Professor Moskowitz currently serves as the head of Commonfund’s audit and risk committee.