Mark Carhart
Mark Carhart | |
|---|---|
| Education | Bachelor of Arts, Yale University (1988); CFA (1991); PhD, University of Chicago Booth School of Business (1995) |
| Occupation(s) | Quantitative investment manager, finance scholar, market statistician |
| Years active | 1990s–present |
| Known for | Contribution to the Fama–French three-factor model by adding a momentum factor; Chief Investment Officer at Kepos Capital |
| Notable work | "Mutual Fund Survivorship" (1997), "On Persistence in Mutual Fund Performance" (1997) |
Mark Carhart is recognized as a quantitative investment manager, finance scholar, and market statistician who contributed to the enhancement of the Fama–French three-factor model by incorporating a momentum component. He currently holds the position of chief investment officer at Kepos Capital, a New York-based quantitative hedge fund.
Early life and education
Mark completed his Bachelor of Arts degree at Yale University in 1988. He earned the CFA designation in 1991 and obtained his doctoral degree from the University of Chicago Booth School of Business in 1995.
Career
At Goldman Sachs Asset Management, Carhart served as Co–Chief Investment Officer for the Quantitative Investment Strategies Group, managing assets exceeding $185 billion at its height. He was appointed Managing Director in 1999 and elevated to Partner status in 2004.
Prior to his tenure at Goldman Sachs, he held the role of Assistant Professor specializing in Finance and Business Economics at the Marshall School of Business within the University of Southern California. Additionally, he was a Senior Fellow at the Wharton Financial Institutions Center and provided consultancy services to Dimensional Fund Advisors and Mercer Global Advisors.
Since 2013, Carhart has been a board member of the non-profit organization InTandem Cycling and participates on the Investment Committee for the Convent of the Sacred Heart New York.
In 2010, he co-established Kepos Capital alongside Giorgio De Santis and Robert Litterman.
Selected publications
- Carhart, Mark M. Mutual Fund Survivorship, USC working paper, May 1997, Vol. 97, Issue 1, pp. 51.
- Carhart, Mark M. On Persistence in Mutual Fund Performance, The Journal of Finance, 1997, Issue 52, pp. 57–82.