Vision and Purpose
Gregg S. Fisher founded Gerstein Fisher in 1993 based on a vision of offering a quantitative investment management approach grounded in sound economic theory and more efficiently implemented through technology. Today the firm embodies that vision and continues to reflect Gregg’s commitment to ongoing research and quantitative, factor-based investing.
Throughout his career, Gregg has worked to bridge the gap between academic theory and real-world investment practice. He has spearheaded research projects on areas of study including the efficacy of momentum and valuation models, tax-efficient investing, the impact of investor behavior on investment returns, and the persistence of certain investment factors across global equity markets.
In 2009 he formalized the firm’s collaboration with a select circle of noted academics by establishing the Gerstein Fisher Research Center. The Center’s mission is to investigate critical issues in finance and risk faced by individual investors through pioneering research that brings an academic theory to bear on contemporary financial practice. Through the Center, Gregg has partnered with leading academics in the areas of behavioral finance, risk engineering and economics to research topics including the phenomenon of momentum in both domestic and international equity markets, and the replication of hedge fund returns through more liquid, transparent investment strategies, and the practical applications of risk parity optimality.
Gregg holds a degree in finance from the State University of New York at Buffalo and obtained a certificate in financial planning from New York University. A CFA charterholder, Gregg is a member of the CFA Institute, the New York Society of Security Analysts (NYSSA), and the Institute for Quantitative Research in Finance (the Q Group), where he is also on the Program Committee. He is an active member of Vistage International, Tiger 21, and the Young Presidents’ Organization (YPO). He serves on the Advisory Board for the Coalition for a Prosperous America.
Gregg is a member of the Dean’s Advisory Council for the University at Buffalo School of Management and has served as an adjunct professor teaching a graduate course in Investment Management at the NYU Tandon School of Engineering at New York University (formerly NYU Polytechnic). He has guest lectured at Columbia University’s Graduate School of Business and the University at Buffalo, among other institutions.
Gregg is a board member of Alumni & Friends of LaGuardia High School, which manages an endowment to provide financial assistance to students of the renowned New York City-based performing arts school; Carnegie East, a facility for older adults who need assistance with daily living activities; The Jim Jacobs Charitable Foundation, Inc., a private grantmaking organization; and Community Resource Exchange, a nonprofit management consulting firm that works to make New York City’s nonprofit organizations stronger and more effective. He is also involved in fundraising and assisting with charitable giving strategies for not-for-profit organizations including the DOME Project. In 2009 Gregg received The Catalog For Giving’s inaugural Impact Award, which honors a philanthropist who has made a significant impact in helping deserving children in New York City.
Published and Working Academic Papers
“Factor Allocation and Asset Allocation,” with Michael B. McDonald
“Should You Tilt Your Portfolio to Smaller Countries?,” with Ronnie Shah and Sheridan Titman, Journal of Portfolio Management, (Fall 2017)
“Combining Value and Momentum,” with Ronnie Shah and Sheridan Titman, Journal of Investment Management, Vol. 14, No. 2 (2016)
“Risk Parity Optimality,” with Philip Z. Maymin and Zakhar G. Maymin, The Journal of Portfolio Management, Vol. 41, No. 2 (Winter 2015)
“Decomposing Fundamental Indexation,” with Ronnie Shah and Sheridan Titman, The Journal of Index Investing, Vol. 6, No. 3 (Winter 2015)
“Momentum’s Hidden Sensitivity to the Starting Day,” with Philip Z. Maymin and Zakhar G. Maymin, The Journal of Investing, Vol. 23, No. 2 (Summer 2014)
“Send in the Clones? Hedge Fund Replication Using Futures Contracts,” with Nicolas P.B. Bollen, The Journal of Alternative Investments, Vol. 16, No. 2 (Fall 2013)
“The Curse of Knowledge: When and Why Risk Parity Beats Tangency,” with Philip Z. Maymin and Zakhar G. Maymin, (Working paper, 2012)
“Preventing Emotional Investing: An Added Value of an Investment Advisor,” with Philip Z. Maymin, The Journal of Wealth Management, Vol. 13, No. 4 (Spring 2011)
“Past Performance is Indicative of Future Beliefs,” with Philip Z. Maymin, Risk and Decision Analysis 2 (2010/2011)