Campbell Harvey
Campbell R. Harvey is a professor of finance at Duke University’s Fuqua School of Business, an NBER research associate and a past president of the American Finance Association. With Yan Liu and Heqing Zhu he authored “…and the Cross-Section of Expected Returns” (Review of Financial Studies, 2016), which documented the “factor zoo” and argued for a t-statistic hurdle above 3.0; with Liu he wrote “Backtesting” and “Evaluating Trading Strategies”, introducing the multiple-testing Sharpe ratio haircut. He appears in this vault as a primary authority on data-snooping bias in trading-strategy evaluation.
He is also a co-author of the 2025 Man Group paper Mulliner et al. 2025 (“Regimes”), which proposes a similarity-based regime model for Factor Timing. That paper is graded weak in this vault — it reports only Sharpe ratios with no transaction costs and discloses its own look-ahead bias — an instructive tension given Harvey’s standing as the field’s leading critic of under-validated strategy claims.
Connections
- And the Cross-Section of Expected Returns — proposes_model, source: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2249314
- Data-Snooping Bias — relates, source: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2345489
- Yan Liu — relates, source: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2345489
- Mulliner et al. 2025 — proposes_model, source: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=5164863