About Us

The Haugen Equity Signals Team

Comprising over 50 years of combined financial services experience, our team of professionals are here to help you with your quantitative research needs. To learn more, call us today.

Bob Haugen

CEO Bob Haugen, PhD was a pioneer in the field of quantitative investment and the leading proponent of the case that stock markets are inherently inefficient. Toward the end of his 30-year academic career in finance, in the mid-nineties, he published his breakthrough research on the predictive power of an expected return factor model in the Journal of Financial Economics.

Shortly thereafter, having enhanced and expanded his prototype, he opened Haugen Custom Financial Systems (the predecessor to Haugen Equity Signals). Since then clients have capitalized on Haugen’s out-of-the-box views and been consistently rewarded with an investment edge for their portfolios.

Bob Haugen received his PhD in Finance from the University of Illinois at Champagne-Urbana. He published numerous books and articles, and made guest appearances on CNBC, CNN, ABC, NBC and CBS. During his 30 year teaching career he held endowed chairs at the University of Wisconsin at Madison, the University of Illinois at Champagne-Urbana, and the University of California, Irvine. He also lectured at universities worldwide and presented papers at finance and investing conferences all over the world.

Articles by Bob Haugen

Jean Heck of Saint Joseph's University worked with Philip L. Cooley of Trinity University on "Most Prolific Authors in the Finance Literature: 1959-2008." The authors examined the most frequently appearing authors in the top seven finance journals including: Financial Management; Journal of Banking and Finance; Journal of Finance; Journal of Financial Economics; Journal of Financial and Quantitative Analysis; Journal of Money, Credit and Banking; and Review of Financial Studies. Dr. Haugen was rated #17 when compared to close to one thousand authors.

Case Closed
Guerard Jr, J. B., & Guerard, J. (Eds.). (2010). Handbook of Portfolio Construction: Contemporary Applications of Markowitz Techniques. Springer.

Commonality in the Determinants of Expected Stock Returns
As Seen in The Journal of Financial Economics, Summer, 1996

Outsmarting Smart Beta: Exploiting Factor Cyclicality
By Herbert Blank and Shannon Greene, November, 2018

Books by Bob Haugen

A Prolific & Well-Regarded Writer Bob Haugen wrote more than 50 articles, which were published in journals including the Journal of Finance, Journal of Financial Economics, Quarterly Journal of Economics, and Journal of Business. He also published 15 books in seven languages. The five featured here are available from Amazon.com.

The New Finance, 4th edition
Overreaction, Complexity and Uniqueness
Using a range of research studies from respected academics, this book shows how an accurate understanding of what’s happening in the market can be a golden opportunity for investors. It has been required reading for MBA programs nationwide.


The Inefficient Stock Market, 2nd edition
What Pays Off and Why
Haugen reveals the misinterpretation that has led to the erroneous conclusion that the stock market is efficient, and explains how an expected return factor model can validate and capitalize on the market’s inherent inefficiency.


The Incredible January Effect (with Josef Lakonishok)
The stock market’s unsolved mystery
This now-classic work reveals how and why you can acquire an amazing return on your investments in the month of January.


Beast on Wall Street
Using historical research and a dramatized story, Haugen shows how stock volatility devours wealth and what can be done about it.


Modern Investment Theory
A comprehensive college text on investment theory and portfolio management.

A Pioneer in the Field of Quantitative Investment

Watch Dr. Bob Haugen explain the power of the Haugen Model, in this 2009 interview