
	Thursday, May 9
12:15 pm	Lunch, Somerset Room
	Format: 20 minutes each for authors, discussants, general discussion
1:00 pm	Common Ownership in America: 1980-2017 (slides) Matthew Backus, University of California, Berkeley and NBER Christopher Conlon, New York University and NBER Michael Sinkinson, Northwestern University and NBER Discussant: David S. Scharfstein, Harvard University and NBER
2:00 pm	Valuing Private Equity Investments Strip by Strip (slides) Arpit Gupta, New York University Stijn Van Nieuwerburgh, Columbia University and NBER Discussant: Antoinette Schoar, Massachusetts Institute of Technology and NBER
3:00 pm	Break
3:15 pm	Which Investors Matter for Global Equity Valuations and Expected Returns? Ralph S. J. Koijen, University of Chicago and NBER Robert J. Richmond, New York University and NBER Motohiro Yogo, Princeton University and NBER Discussant: Tarek Alexander Hassan, Boston University and NBER
4:15 pm	Break
4:30 pm	Panel on Quantitative Investing Cliff Asness, AQR Capital Management Owen Lamont, Wellington Management Feifei Li, Research Affiliates (slides)
5:30 pm	Adjourn
6:30 pm	Dinner, Parkview Room Keynote Speaker: John Campbell, Harvard University and NBER Long-Term Investing in a Nonstationary World
	Friday, May 10
8:00 am	Coffee and Pastries
8:30 am	The Impact of Pensions and Insurance on Global Yield Curves Robin Greenwood, Harvard University and NBER Annette Vissing-Jorgensen, Federal Reserve Board and NBER Discussant: Adrien Verdelhan, Massachusetts Institute of Technology and NBER
9:30 am	Break
9:45 am	What's Wrong with Pittsburgh? Delegated Investors and Liquidity Concentration (slides) Andra C. Ghent, University of Utah Discussant: Tim Landvoigt, University of Pennsylvania and NBER
10:45 am	Break
11:00 am	Conditional Dynamics and the Multi-Horizon Risk-Return Trade-off Mikhail Chernov, University of California, Los Angeles and NBER Lars A. Lochstoer, University of California, Los Angeles and NBER Stig Lundeby, Norwegian School of Economics Discussant: Christopher Polk, London School of Economics
12:00 pm	Lunch, Somerset Room
1:00 pm	Fund Tradeoffs Lubos Pastor, University of Chicago and NBER Robert F. Stambaugh, University of Pennsylvania and NBER Lucian A. Taylor, University of Pennsylvania Discussant: Mark Grinblatt, University of California, Los Angeles and NBER
2:00 pm	Break
2:15 pm	The Subsidy to Infrastructure as an Asset Class (slides) Aleksandar Andonov, University of Amsterdam Roman Kräussl, Bayes Business School Joshua Rauh, Stanford University and NBER Discussant: Marcin Kacperczyk, Imperial College London
3:15 pm	Break
3:30 pm	The Benchmark Inclusion Subsidy Anil K. Kashyap, University of Chicago and NBER Natalia Kovrijnykh, Arizona State University Jian Li, Columbia University Anna Pavlova, London Business School Discussant: David Thesmar, Massachusetts Institute of Technology and NBER
4:30 pm	Adjourn
	Wednesday, July 24
1:20 pm	What's Wrong with Pittsburgh? Delegated Investors and Liquidity Concentration (slides) Andra C. Ghent, University of Utah Discussant: Barney Hartman-Glaser, University of California at Los Angeles

Participants

Simona Abis, University of Colorado Boulder
Christopher S. Anderson, Federal Reserve Board
Ian R. Appel, University of Virginia
Cliff Asness, AQR Capital Management
Francesca Bastianello, University of Chicago
Vincent Bogousslavsky, Boston College
Marie Briere, Amundi Asset Management
John Y. Campbell, Harvard University and NBER
Edwin Cass, Canada Pension Plan Investment Board
Mikhail Chernov, University of California, Los Angeles and NBER
Christopher Conlon, New York University and NBER
Magnus Dahlquist, Stockholm School of Economics
Joseph Davis, The Vanguard Group
Steven Fortney, Yale University
Andra C. Ghent, University of Utah
Robin Greenwood, Harvard University and NBER
Mark Grinblatt, University of California, Los Angeles and NBER
Arpit Gupta, New York University
Tarek Alexander Hassan, Boston University and NBER
Allen Hu, University of British Columbia
Takatoshi Ito, Columbia University and NBER
Victoria Ivashina, Harvard University and NBER
Ravi Jagannathan, Northwestern University and NBER
Marcin Kacperczyk, Imperial College London
Taehoon Kim, Harvard University
Yerkin Kitapbayev, Massachusetts Institute of Technology
Leonard Kostovetsky, Baruch College
Roman Kräussl, Bayes Business School
Spencer Yongwook Kwon, Brown University
Owen Lamont, Acadian Asset Management
Tim Landvoigt, University of Pennsylvania and NBER
Feifei Li, Research Affiliates
Jian Li, Columbia University
Lise Lindbäck, The Norwegian Finance Initiative

Canyao Liu, Yale University
Lars A. Lochstoer, University of California, Los Angeles and NBER
Christopher Malloy, Harvard University
Egor V. Matveyev, Massachusetts Institute of Technology
Rajnish Mehra, Arizona State University and NBER
Borghan Narajabad, Federal Reserve Board
Anna Pavlova, London Business School
Monika Piazzesi, Stanford University and NBER
Christopher Polk, London School of Economics
James M. Poterba, Massachusetts Institute of Technology
Joshua Rauh, Stanford University and NBER
Jonathan Reuter, Boston College and NBER
Robert J. Richmond, New York University and NBER
Gianluca Rinaldi, Harvard University
David S. Scharfstein, Harvard University and NBER
Lawrence D.W. Schmidt, Massachusetts Institute of Technology
Antoinette Schoar, Massachusetts Institute of Technology and NBER
Michael Sinkinson, Northwestern University and NBER
Emil Siriwardane, Harvard University and NBER
Chester S. Spatt, Carnegie Mellon University and NBER
Robert F. Stambaugh, University of Pennsylvania and NBER
Adi Sunderam, Harvard University and NBER
David Thesmar, Massachusetts Institute of Technology and NBER
Sjoerd H. J. Timmermans, Norges Bank Investment Management
Boris Vallee, Harvard University
Kaushik Vasudevan, Purdue University
Stéphane Verani, Federal Reserve Board
Adrien Verdelhan, Massachusetts Institute of Technology and NBER
Luis M. Viceira, Harvard University and NBER
Vegard Vik, Norges Bank Investment Management
Fredrik Willumsen, Norges Bank Investment Management
Motohiro Yogo, Princeton University and NBER
Shiyu Zhao, Boston College