Pulling the Goalie: Hockey and Investment Implications

Asness, Clifford S.; Brown, Aaron

doi:10.2139/ssrn.3132563

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Pulling the Goalie: Hockey and Investment Implications

13 Pages Posted: 8 Mar 2018 Last revised: 8 Oct 2018

See all articles by Clifford S. Asness

Aaron Brown

New York University (NYU) - Courant Institute of Mathematical Sciences; AQR Capital Management, LLC

Date Written: March 1, 2018

Abstract

We build a simple, but powerful and intuitive, model for when a hockey coach should pull the goalie when trailing. When the model reports that the coaches aren’t doing it nearly early enough, we then ask why, and take away some key lessons for portfolio and risk management, and business in general.

Keywords: Behavioral Finance, Portfolio and Risk Management, Hockey, Goalie Pull, Sports Economics

JEL Classification: G02, G00, G11, Z2, Z21

Suggested Citation: Suggested Citation

Asness, Cliff S. and Brown, Aaron, Pulling the Goalie: Hockey and Investment Implications (March 1, 2018). Available at SSRN: https://ssrn.com/abstract=3132563 or http://dx.doi.org/10.2139/ssrn.3132563