Richard Roll

Richard Roll is a prominent American finance professor known for his contributions to financial economics. He is best known for the “Roll’s Critique,” which challenges how asset pricing models are tested, emphasizing that the results can be influenced by how portfolios are constructed. Additionally, he has researched stock market efficiency, the behavior of financial markets, and the dynamics of risk and return. Roll’s work has significantly shaped our understanding of market behavior and investment strategies, making him a key figure in modern finance. He has taught at institutions like UCLA and has influenced both academia and practice in finance.