Andrea Frazzini

Andrea Frazzini is a principal and researcher at AQR Capital Management and an adjunct professor at NYU Stern. His research co-authored with AQR colleagues and Lasse Pedersen includes highly influential papers such as "Buffett's Alpha" — which decomposed Warren Buffett's returns into systematic factors including quality and low-beta — and "Betting Against Beta" — which documented that low-beta assets outperform on a risk-adjusted basis. These papers have had significant impact on how institutional investors construct factor portfolios and understand the sources of active returns. His empirical work on transaction costs, market impact estimation, and the implementation of factor strategies at institutional scale has also bridged the gap between academic factor theory and practical portfolio management, providing investors with realistic expectations for factor returns after accounting for capacity constraints and trading frictions.