Research Interests

• Asset pricing
• Portfolio management
• International finance

Selected Publications

• "Information Immobility and Foreign Portfolio Investment", with Vidhi Chhaochharia Review of Financial Studies, forthcoming.
• "A Model of Asset Pricing under Country Risk".  Journal of International Money and Finance 28(4), 671-695, 2009.
• "Trading Imbalances, Predictable Reversals, and Cross-Stock Price Pressure", with Charles Chang and Mark Seasholes.  Journal of Financial Economics 88(2), 406-423, 2008.
• "Market Timing with Cay" with Ilona Babenko and Yuri Tserlukevich.  Journal of Portfolio Management 32(2), 70-80, 2006.

Teaching & Professional Experience

• Graduate Student Instructor – University of California, Berkeley
• Senior Advisor – Foreign Reserves Department at the Central Bank of Brazil
• Staff Researcher – Institute of Applied Economic Research (Brazil)
• Senior Financial Analyst – BBM Investment Bank (Brazil)

Degrees

• Ph.D. in Finance – University of California, Berkeley - 2006
• M.Sc. in Economics – EPGE/FGV - 1996
• Engineer – Instituto Tecnologico de Aeronautica – 1993