I am deeply grateful for countless ideas for this book from my colleagues at AQR Capital Management, New York University, Copenhagen Business School, and beyond. At AQR, I would in particular like to thank John Liew for teaching me a lot about asset management when I knew next to nothing about real-world trading; Cliff Asness for always sharing his brilliant insights (often masked as jokes) when I bust into his office; David Kabiller for his thoughtful visions about how to build a business (and for trying to make me a businessman); Andrea Frazzini, the fastest quant backtester around, for his great collaboration; Toby Moskowitz for sharing both the experience of going from academia to AQR and, initially, an office—you’re a great office mate; Yao Hua Ooi for tremendous teamwork on many projects; and all the others at AQR who provided helpful comments on early drafts of the book, including Aaron Brown, Brian Hurst, Ari Levine, Mike Mendelson, Scott Metchick, Mark Mitchell, Lars Nielsen, Todd Pulvino, Scott Richardson, Mark Stein, Rodney Sullivan, and, especially, Antti Ilmanen and Ronen Israel who provided many insights for the book.
I am also extremely grateful to my colleagues and students at New York University Stern School of Business and at Copenhagen Business School. This book has really benefited from my inspiring discussions with colleagues at NYU, such as Viral Acharya, Yakov Amihud, Xavier Gabaix, Thomas Philippon, Matt Richardson, William Silber, Marti Subrahmanyam, Stijn Van Nieuwerburgh, Jeff Wurgler, and my colleagues at Copenhagen Business School, including David Lando (who first got me interested in finance when I was an undergrad), Søren Hvidkjær, Niklas Kohl, Jesper Lund, and Kristian Miltersen. A huge thanks to all my co-authors, not least the ones already mentioned, as well as Nicolae Gârleanu at Berkeley, Markus Brunnermeier at Princeton, and my Ph.D. advisors Darrell Duffie and Ken Singleton at Stanford, all of whom have meant a lot to me.
Last, but not least, I thank my wife and kids for letting me pursue multiple careers and for reminding me of what really matters in my efficiently inefficient life.