Mark Carhart

Mark Carhart is a finance researcher, market statistician and quantitative investment manager known for extending the Fama–French three-factor model with a momentum factor.^[1] He is currently chief investment officer of New York quantitative hedge fund, Kepos Capital ^[2]

Mark M. Carhart
Nationality	American
Occupation(s)	Finance Researcher, Market Statistician, Author
Organization	Kepos Capital
Known for	Carhart four-factor model

Early life and education

Mark earned his Bachelor of Arts degree from Yale University in 1988. He became a CFA Charterholder in 1991 and went on to receive his Ph.D. from the University of Chicago Booth School of Business in 1995.^[3][4]

Career

Carhart served as Co–Chief Investment Officer of the Quantitative Investment Strategies Group at Goldman Sachs Asset Management, where the team oversaw more than $185 billion in assets at its peak. He was named Managing Director in 1999 and became a Partner in 2004.^[4]

Prior to joining Goldman Sachs, Mark was an Assistant Professor of Finance and Business Economics at the Marshall School of Business at the University of Southern California, a Senior Fellow at the Wharton Financial Institutions Center, and a consultant for Dimensional Fund Advisors (DFA) and Mercer Global Advisors.^[4]

He serves on the non-profit board of InTandem Cycling since 2013 and the Investment Committee of the Convent of the Sacred Heart New York.^[5]

In 2010, he founded Kepos Capital together with Giorgio De Santis and Robert Litterman.^[6]

Selected publications

• Carhart, Mark M. (1997-05-15). "Mutual Fund Survivorship". USC working paper. 97 (1): 51.
• Carhart, Mark M. (1997). "On Persistence in Mutual Fund Performance". The Journal of Finance (52): 57–82.