Wesley Gray: Perspectives on Market Efficiency, Investor Behavior, and ETFs

<p>Our guest this week is Wes Gray. Wes is the CEO, chief investment officer, and founder of Alpha Architect, a Registered Investment Advisor that offers ETFs and works with other RIAs to launch their own ETFs. An accomplished researcher and writer, Wes has authored numerous books on investing and financial topics, including <i>Quantitative Value </i>and<i> Quantitative Momentum</i>. Before founding Alpha Architect, Wes worked in academia and consulted for a family office. Wes’ path into finance began at the University of Chicago, where he earned his MBA and Ph.D. and studied under Nobel Prize winner Eugene Fama. Prior to that, Wes served as a captain in the United States Marine Corps. In addition to his MBA and Ph.D., Wes also earned a bachelor’s degree in economics from The Wharton School.</p><p>Background</p><p><a href="https://www.linkedin.com/in/alphaarchitect/">Bio</a></p><p>Twitter handle: <a href="https://twitter.com/alphaarchitect">@alphaarchitect</a></p><p><a href="https://alphaarchitect.com/">Alpha Architect</a></p><p><a href="https://novelinvestor.com/notes/quantitative-momentum-by-wesley-gray-jack-vogel/"><i>Quantitative Momentum: A Practitioner’s Guide to Building a Momentum-Based Stock Selection System</i></a>, by Wesley Gray, Ph.D., and Jack Vogel, Ph.D.</p><p><a href="https://www.wiley.com/en-us/Quantitative+Value:+A+Practitioner's+Guide+to+Automating+Intelligent+Investment+and+Eliminating+Behavioral+Errors,+++Web+Site-p-9781118328071"><i>Quantitative Value: A Practitioner’s Guide to Automating Intelligent Investment and Eliminating Behavioral Errors</i></a>, by Wesley Gray, Ph.D., and Tobias Carlisle, LLB</p><p>Active Investing</p><p>“<a href="https://alphaarchitect.com/2016/02/even-god-would-get-fired-as-an-active-investor/">Even God Would Get Fired as an Active Investor</a>,” by Wesley Gray, <a href="http://alphaarchitect.com/" target="_blank">alphaarchitect.com</a>, Feb. 2, 2016.</p><p>“<a href="https://alphaarchitect.com/2022/09/has-the-stock-market-systematically-changed/">Has the Stock Mar