Lubos Pastor is Charles P. McQuaid Professor of Finance at the University of Chicago Booth School of Business. He is also a Research Associate at the National Bureau of Economic Research and a Research Fellow at the Centre for Economic Policy and Research. In addition, he serves as an Associate Editor of the Journal of Finance and Journal of Financial Economics, as a Director of the Western Finance Association, and is a former Associate Editor of the Review of Financial Studies.
Professor Pastor’s research focuses mostly on financial markets and asset management. His latest work analyzes the effects of political uncertainty on asset prices. He has also written on a broad range of topics such as liquidity risk, stock price bubbles, portfolio choice, performance evaluation, stock volatility, return predictability, technological revolutions, and IPOs. He has analyzed various effects of parameter uncertainty and learning in finance. His articles have appeared in the American Economic Review, Journal of Finance, Journal of Financial Economics, Journal of Political Economy, Review of Financial Studies, as well as nonacademic outlets such as Bloomberg and the Financial Times. His research has been awarded numerous prizes, such as two Smith Breeden Prizes, two Fama/DFA Prizes, Whitebox Advisors Selected Research Prize, Goldman Sachs Asset Management Prize, Barclays Global Investors Prize, Geewax, Terker & Co. Prize, the NASDAQ Award, and the Q Group Award.
Professor Pastor has been teaching at Chicago Booth since 1999, when he obtained a Ph.D. in finance from the Wharton School at the University of Pennsylvania. He has received the McKinsey Award for Excellence in Teaching as well as two Faculty Excellence Awards from Chicago Booth.
In his student years, Professor Pastor won awards in chess and mathematics, mainly in his native Slovakia. In his spare time, he enjoys sports, reading, and spending time with his family.
2013 - 2014 Course Schedule
Sports, chess, international affairs.
Asset pricing; asset management; liquidity risk; government policy; portfolio choice; stock price bubbles; stock volatility; return predictability; performance evaluation; technological innovation; IPOs; Bayesian analysis.
With Pietro Veronesi, "Uncertainty about government policy and stock prices," Journal of Finance (2012).
With Robert F. Stambaugh, "On the size of the active management industry," Journal of Political Economy (2012).
With Robert F. Stambaugh, "Are stocks really less volatile in the long run?," Journal of Finance (2012).
With Pietro Veronesi, "Technological revolutions and stock prices," American Economic Review (2009).
With Robert F. Stambaugh, "Liquidity risk and expected stock returns," Journal of Political Economy (2003).