The Ben Graham Centre for Value Investing at the Ivey Business School at Western University held an academic Symposium on May 29, 2015 in London, Ontario.

The mission of the symposium was to encourage and support academic research and study in areas related to value investing. The presenters discussed their work on value investing and related topics, such as market anomalies and value vs. growth investing.


View the Program

Morning Session: On Market Anomalies

Presenter: Joseph Gerakos, University of Chicago
Topic: Accruals, Cash Flows and Operating Profitability in the Cross Section of Stock Returns
Jeremiah Green

Presenter: Tyler Shumway, University of Michigan
Topic: Can Individual Investors Time Bubbles?

Discussant: Justin Birru, Ohio State University

Presenter: Terrance Odean, University of California - Berkeley
Topic: Which Risk Factors Matter to Investors? Evidence from Mutual Funds
Discussant: Susan Christoffersen, University of Toronto

Afternoon Session: On Value Investing

Presenter: Stephen Penman, Columbia University
Topic: The Value Trap: Value Buys Risky Growth
Partha Mohanram, University of Toronto

Presenter: Stijn Van Nieuwerburgh, New York University
Topic: The Cross Section and Time Series of Stock and Bond Returns

Discussant: Jonathan Lewellen, Dartmouth College

Presenter: Martijn Cremers, University of Notre Dame
Topic: Patient Capital Outperformance: The Investment Skill of High Active Share Managers Who Trade Infrequently

Saurin Patel, Western University


We would like to thank our sponsors Burgundy Asset Management Ltd.The Center for the Advancement of Value Investing Education and Ivey Business School for their generous support in sponsoring the competition.