Wesley Gray

Wesley Gray served as a Marine Corps officer before pursuing a PhD in finance from the University of Chicago. He co-founded Alpha Architect with Jack Vogel to translate academic finance research — particularly on value and momentum factors — into practical investment products for sophisticated investors. Beyond investment management, Gray has been prolific in writing books on factor investing and quantitative strategies, including "Quantitative Value," "Quantitative Momentum," and others. He bridges the gap between academic factor research and practical portfolio implementation, explaining the behavioral and structural reasons why factors persist and how to implement them without diluting their efficacy. His work on the "tax-aware" implementation of factor strategies — demonstrating that tax-loss harvesting and turnover management can meaningfully improve after-tax returns for taxable investors — has been practically influential for the design of direct indexing and customized separately managed account products in the factor investing space.