William Goetzmann

William N. Goetzmann is the Edwin J. Beinecke Professor of Finance and Management Studies and Director of the International Center for Finance at the Yale School of Management.  He is an expert on a diverse range of investments.  His past work includes studies of stock market predictability, hedge funds and survival biases in performance measurement.  His current research focuses on alternative investing, factor investing, behavioral finance and the art market.
 
Professor Goetzmann has written and co-authored a number of books, including Modern Portfolio Theory and Investment Analysis (Wiley, 2014), The Origins of Value: The Financial Innovations that Created Modern Capital Markets (Oxford, 2005), The Great Mirror of Folly: Finance, Culture and the Crash of 1720 (Yale, 2013) and most recently, Money Changes Everything: How Finance Made Civilization Possible (Princeton, 2016).  He teaches portfolio management, alternative investments, real estate and financial history at the Yale School of Management.

EDUCATION

• PhD, Yale University, 1990
• MBA, Yale School of Management, 1986
• BA, Yale College, 1978

ACHIEVEMENTS

• Best Paper Award, Journal of the European Financial Management Association, 2018
• James R. Vertin Award, CFA Institute Research Foundation “for a body of research notable for its relevance and enduring value to
• Jack Treynor Prize, Q-Group for superior academic working papers with potential applications in the fields of investment management and financial markets, 2018
• President, Western Finance Association , 2010
• Past President, European Finance Association, 2006

SELECTED BOOKS

• The Great Mirror of Folly: Finance, Culture, and the Great Crash of 1720 W.N. Goetzmann, C Labio, K.G. Rouwenhorst and T. Young Yale Press 2013
• The West of the Imagination W. H. Goetzmann and W. N. Goetzmann University of Oklahoma Press 2009
• Modern Portfolio Theory and Investment Analysis E. J. Elton, M. J. Gruber, S. J. Brown and W. N. Goetzmann John Wiley & Sons 2009
• The Origins of Value: The Financial Innovations That Created Modern Capital Markets W. N. Goetzmann and K.G. Rouwenhorst Oxford University Press, USA 2005
• The Equity Risk Premium: Essays and Explorations W. N. Goetzmann and R. G. Ibbotson Oxford University Press, USA 2006

SELECTED ARTICLES

• Art and gender: market bias or selection bias? L. Cameron, W. N. Goetzmann, M. Nozari Journal of Cultural Economic 2019
• Estimating private equity returns from limited partner cash flows A. Ang, B. Chen, W. N. Goetzmann, and L. Phalippou 2018
• Hedge funds and stock price formation C. Cao, Y. Chen, W. N. Goetzmann, and B. Liang Financial Analysts Journal 2018
• Is Trading Behavior Stable across Contexts? Evidence from Style and Multi-Style Investors W. N. Goetzmann, D. W. Blackburn, and A. D. Ukhov Quantitative Finance 2013
• New evidence on the first financial bubble R. G. Frehen, W. N. Goetzmann and K.G. Rouwenhorst Journal of Financial Economics 2013