# Toby Moskowitz

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{{short description|American economist}}
{{Infobox scientist
| name              = Toby Moskowitz
| image             =
| caption           = 
| birth_date        = {{birth date and age|1971|2|3}}
| birth_place       = [West Lafayette, Indiana](/source/West_Lafayette%2C_Indiana)
| death_date        = 
| death_place       = 
| alma_mater        = [UCLA](/source/UCLA), [Anderson School](/source/UCLA_Anderson_School_of_Management) ([Ph.D.](/source/Ph.D.))<br>[Purdue](/source/Purdue_University), [Krannert School](/source/Krannert_School_of_Management) ([B.S.](/source/Bachelor_of_Science) and an [M.S.](/source/Master_of_Science))
| doctoral_advisor  = Mark Grinblatt
| doctoral_students = 
| known_for         = 
| footnotes         = 
| field             = [Financial economics](/source/Financial_economics)
| work_institution  = [Yale School of Management](/source/Yale_School_of_Management) (2016–)
[University of Chicago](/source/University_of_Chicago) [Booth School of Business](/source/University_of_Chicago_Booth_School_of_Business) (1998–2016)
| prizes            = [Fischer Black Prize](/source/Fischer_Black_Prize)
| religion          =  
}}

'''Tobias Jacob "Toby" Moskowitz''' (born February 3, 1971) is an American  [financial economist](/source/Financial_economics) and a [professor](/source/professor) at the [Yale School of Management](/source/Yale_School_of_Management).  He was the winner of the 2007 [American Finance Association](/source/American_Finance_Association) (AFA) [Fischer Black Prize](/source/Fischer_Black_Prize), awarded to a leading [finance](/source/finance) scholar under the age of 40.

==Background==
Moskowitz was born in 1971 in [West Lafayette, Indiana](/source/West_Lafayette%2C_Indiana), where his father was a professor of management at [Purdue University](/source/Purdue_University). Moskowitz graduated from [West Lafayette Junior-Senior High School](/source/West_Lafayette_Junior-Senior_High_School) in 1989, and then attended Purdue where he earned a [B.S.](/source/Bachelor_of_Science) in industrial management and industrial engineering (with distinction) in 1993, and a [M.S.](/source/Master_of_Science) in management in 1994. He received a [Ph.D.](/source/Ph.D.) in finance from the [University of California, Los Angeles](/source/University_of_California%2C_Los_Angeles) [Anderson School of Management](/source/UCLA_Anderson_School_of_Management) in 1998.

==Professional career==
Moskowitz has been a faculty member at Booth since 1998.  Moskowitz has [published](/source/academic_publishing) several award-winning [research](/source/research) papers and was promoted to full professor in 2005.  He was the Professor of Finance and Neubauer Family Faculty Fellow at the Booth School of Business.<ref>{{cite web|url=http://faculty.chicagogsb.edu/tobias.moskowitz/vita/CV.pdf|accessdate=2007-09-08|title=Tobias J. Moskowitz|publisher=University of Chicago}}</ref> In 2007, he was the second winner of the Fischer Black prize.<ref>
American Finance Association announcement quote in: {{cite news | title = University of Chicago Graduate School of Business Professor Named Top Finance Scholar Under Age 40 by American Finance Association | url = http://www.chicagogsb.edu/newsmedia/releases/2007-01-10_moskowitz_award.aspx | publisher = Chicago Graduate School of Business | date = 2007-01-10 | accessdate = 2007-09-08 | url-status = dead | archiveurl = https://web.archive.org/web/20070928014215/http://www.chicagogsb.edu/newsmedia/releases/2007-01-10_moskowitz_award.aspx | archivedate = 2007-09-28 }}</ref>

In the words of the AFA, Moskowitz was honored for "ingenious and careful use of newly available data to address fundamental questions in finance."  In Moskowitz' own words, "I try to measure things that are not easy to measure."<ref name=AND>{{cite news | title = Toby Moskowitz ('98) Receives 2007 Fischer Black Prize from American Finance Association | url = http://www.anderson.ucla.edu/x16627.xml | publisher = UCLA Anderson School of Management | accessdate = 2007-06-20}}</ref>  Moskowitz was praised by the AFA as follows: "Professor Moskowitz accomplishes the difficult task of [testing the theory](/source/Statistical_hypothesis_testing) while having access to much less information than is available to market participants."<ref>{{cite web|url=http://chronicle.uchicago.edu/070510/accolades.shtml|accessdate=2007-09-09|date=2007-05-10|title=Accolades|publisher=The University of Chicago Chronicle}}</ref>  According to the University of Chicago press release, "Moskowitz has explored topics as diverse as [momentum](/source/momentum_(finance)) in [stock returns](/source/Rate_of_return), local bias in investment [portfolio choice](/source/Asset_allocation), and the social effects of [bank mergers](/source/bank_mergers).   He also looked at the return to [private business ownership](/source/Privately_held_company), the trading and financing of commercial [real estate](/source/real_estate), and the [political economy](/source/political_economy) of [financial regulation](/source/financial_regulation)."<ref name=USPR>{{cite web|url=http://www.chicagogsb.edu/newsmedia/releases/2007-01-10_moskowitz_award.aspx|accessdate=2007-09-09|date=2007-01-10|title=University of Chicago Graduate School of Business Professor Named Top Finance Scholar Under Age 40 by American Finance Association|publisher=The University of Chicago Graduate School of Business|author=Friedman, Allan and Barbara Backe|url-status=dead|archiveurl=https://web.archive.org/web/20070928014215/http://www.chicagogsb.edu/newsmedia/releases/2007-01-10_moskowitz_award.aspx|archivedate=2007-09-28}}</ref>

Moskowitz won the 2000 [Smith-Breeden Prize](/source/Smith-Breeden_Prize) for his paper "Home Bias at Home: Local Equity Preference in Domestic Portfolios" (with [Joshua D. Coval](/source/Joshua_D._Coval)),<ref>{{cite web|url=http://www.afajof.org/journal/prizeabs.asp#20001|accessdate=2007-09-09|title=Abstracts of Smith Breeden Prize Winning Papers|publisher=American Finance Association|url-status=dead|archiveurl=https://web.archive.org/web/20090529084848/http://www.afajof.org/journal/prizeabs.asp#20001|archivedate=2009-05-29}}</ref> published in the ''[Journal of Finance](/source/Journal_of_Finance)'' and the 2005 [Brattle Prize](/source/Brattle_Prize) second place for "Testing Agency Theory with Entrepreneur Effort and Wealth" (with Marianne P. Bitler and Annette Vissing-Jørgensen),<ref>{{cite web|url=http://www.afajof.org/journal/prizeabs.asp#dist05|accessdate=2007-09-09|title=Abstracts of Brattle Prize Winning Papers|publisher=American Finance Association|url-status=dead|archiveurl=https://web.archive.org/web/20090529084848/http://www.afajof.org/journal/prizeabs.asp#dist05|archivedate=2009-05-29}}</ref> published in the ''[Journal of Finance](/source/Journal_of_Finance)''.  He also won 2004 and 2005 [Michael Brennan Award](/source/Michael_Brennan_Award) prizes for papers published in the ''[Review of Financial Studies](/source/Review_of_Financial_Studies)''.<ref name=USPR/>  His 2004 paper, "Informal Financial Networks: Theory and Evidence" (with Mark Garmaise), placed first, and his 2005 paper, "Confronting Information Asymmetries: Evidence from Real Estate Markets" (with Garmaise), was runner-up.<ref>{{cite web|url=http://www.oxfordjournals.org/our_journals/revfin/awards_michaelbrennan.html|accessdate=2007-09-09|publisher=Society for Financial Studies|title=Barclays Global Investors (BGI) Michael Brennan Award|work=Oxford Journals}}</ref>

In addition to his academic work, Moskowitz has served as a consultant to [AQR Capital Management](/source/AQR_Capital_Management).

In 2011, Moskowitz and co-author [L. Jon Wertheim](/source/L._Jon_Wertheim) published ''Scorecasting'', a book that uses statistical and other empirical research results to analyze conventional sports wisdom.

In 2016, Moskowitz joined the faculty at the [Yale School of Management](/source/Yale_School_of_Management).<ref>{{cite web|url=http://news.yale.edu/2016/05/23/tobias-moskowitz-appointed-inaugural-dean-takahashi-professor-finance|title=Tobias Moskowitz appointed the inaugural Dean Takahashi Professor of Finance|accessdate=November 7, 2016|date=May 23, 2016|website=Yale.edu}}</ref>

==Notes==
{{reflist|2}}

==References==
*Moskowitz, Tobias Jacob (1998). ''[http://www.anderson.ucla.edu/x841.xml Asset pricing and fund investment anomalies]''. Ph.D. dissertation, University of California, Los Angeles, United States—California.
*{{cite book | last1 = Moskowitz | first1 = Tobias J. | last2 = Wertheim | first2 = L. Jon | title = Scorecasting: The Hidden Influences Behind How Sports Are Played and Games Are Won | publisher = Crown Archetype | year = 2011}}

==External links==
*[http://faculty.chicagobooth.edu/tobias.moskowitz/research/ Moskowitz's Publications with links]
*[http://som.yale.edu/tobias-j-moskowitz Moskowitz's Yale School of Management profile]

{{Financial economics awards}}

{{Authority control}}

{{DEFAULTSORT:Moskowitz, Toby}}
Category:1971 births
Category:People from West Lafayette, Indiana
Category:Krannert School of Management alumni
Category:Living people
Category:University of Chicago faculty
Category:UCLA Anderson School of Management alumni
Category:Economists from Indiana
Category:21st-century American economists

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Adapted from the Wikipedia article [Toby Moskowitz](https://en.wikipedia.org/wiki/Toby_Moskowitz) by Wikipedia contributors ([contributor history](https://en.wikipedia.org/wiki/Toby_Moskowitz?action=history)). Available under [Creative Commons Attribution-ShareAlike 4.0 International](https://creativecommons.org/licenses/by-sa/4.0/). Changes may have been made.