Stefano Giglio
Is Climate Risk More than Markets Can Handle?
Yale SOM finance professor Stefano Giglio lays out the unique complications of grappling with climate risk, and explains his own work on stock portfolios that hedge climate change.
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During the COVID-19 Crash, Investors’ Beliefs Didn’t Match Their Behavior
Despite a general wave of pessimism following the COVID-19 stock crash in March, few investors made significant changes to their portfolios, according to new research from Yale SOM’s Stefano Giglio.
![A trader at the New York Stock Exchange on February 28, 2020. Photo: Johannes Eisele/AFP via Getty Images.]()
Researchers Propose New Method to Hedge against the Risk of Climate Disaster
Markets could be a huge part of mitigating climate risk. A proposal from Yale finance faculty seeks to make that a reality.
![Firefighters battling the Getty fire in the Brentwood Heights neighborhood of Los Angeles on October 28, 2019. Photo: Brian van der Brug/Los Angeles Times via Getty Images.]()
How Do Investors Respond to Uncertainty?
Conventional wisdom says that uncertainty is bad for markets. But Yale SOM’s Stefano Giglio and his co-authors found that investors are willing to pay a premium to protect themselves only against actual market volatility, not mere uncertainty.
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