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Michael W. Brandt

Kalman J. Cohen Distinguished Professor Emeritus of Business Administration
Fuqua School of Business

Overview


Professor Brandt conducts empirical and theoretical research in finance. His current work focuses on real-time processing of macroeconomic data by financial markets. He also works on quantitative portfolio management, risk management, currency and fixed income markets, and financial econometrics. Professor Brandt's research has appeared in leading academic journals, including the American Economic Review, Journal of Business, Journal or Finance, Journal of Financial Economics, Journal of Monetary Economics, and Review of Financial Studies. He served as co-editor of the Review of Finance, the official journal of the European Finance Association, and as associate editor of the Journal of Finance, the official journal of the American Finance Association. He is a Faculty Research Associate of the National Bureau of Economic Research (NBER). Prior to joining Fuqua in 2003, Professor Brandt was at the Wharton School of the University of Pennsylvania for six years.

Current Appointments & Affiliations


Kalman J. Cohen Distinguished Professor Emeritus of Business Administration · 2025 - Present Fuqua School of Business
Professor Emeritus of Business Administration · 2025 - Present Fuqua School of Business

In the News


Published November 26, 2013
Michael Brandt, co-authors propose new economic data-tracking model

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Recent Publications


Mutual fund performance: Using bespoke benchmarks to disentangle mandates, constraints and skill

Journal Article Journal of Empirical Finance · January 1, 2021 While no two mutual funds are alike in terms of their mandates and constraints, metrics used to evaluate fund performance relative to peers typically fail to account for these differences by relying on generic benchmark indices and rankings. We develop a m ... Full text Cite

Can Hedge Funds Time the Market?

Journal Article International Review of Finance · June 1, 2019 We answer the somewhat narrower question of whether hedge funds adjust their conditional market exposure in response to real-time changes in macroeconomic conditions, and whether doing so improves their performance. We find that hedge funds differ substant ... Full text Cite

Macro fundamentals or geopolitical events? A textual analysis of news events for crude oil

Journal Article Journal of Empirical Finance · March 1, 2019 News about macroeconomic fundamentals and geopolitical events affect crude oil markets differently. Using sentiment scores for a broad set of global news of different types, we find that news related to macro fundamentals have an impact on the oil price in ... Full text Cite
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Education, Training & Certifications


The University of Chicago · 1998 Ph.D.