August 6, 2025
What to Watch
Complimentary CONTENT
Test for recency logic
- Alberto CavalloPartner State Street Associates
- Alex Cheema-Fox, CFAManaging Director, Investor Behavior Research
- Andrew Li, Vice President
Author Bios

Alberto Cavallo
Alberto Cavallo is the Thomas S. Murphy Professor of Business Administration at Harvard Business School, where he teaches in the Business, Government, and the International Economy (BGIE) unit, a Faculty Research Fellow at the National Bureau of Economic Research, and a member of the Technical Advisory Committee of the US Bureau of Labor Statistics (BLS). Professor Cavallo's research focuses on the behavior of prices and its implications for macroeconomic measurement and policies. His work is based on the use of daily data collected from hundreds of online retailers around the world. He co-founded The Billion Prices Project, an academic initiative at MIT and Harvard University that pioneered the use of online data to conduct research on high-frequency price dynamics and inflation measurement.

Alex Cheema-Fox
Alex Cheema-Fox leads Multi-Asset Research in the Quantitative Markets Research Group at State Street Associates (SSA), focusing on investor behavior. Since joining SSA in late 2008, Alex has contributed to the construction and application of behavioral measures spanning the fixed-income, equity, factor and foreign exchange spaces. He has presented this research globally at numerous conferences. Prior to joining SSA, Alex worked at the RIS Consulting Group, where he built and applied quantitative risk models for customized structured products, serving a variety of institutional clients including asset owners and asset managers. Alex holds a bachelor's degree in mathematics, a master's degree in quantitative finance, a master's degree in computer science, the FRM certification and the CFA charter.

Andrew Li
Andrew Yimou Li is Vice President and Quantitative Researcher for the Portfolio Management Research team at State Street Associates. The Portfolio Management Research team collaborates with academic partners to develop new research on asset allocation, risk management, and investment strategy. Andrew’s research focuses on leveraging quantitative models and machine learning to tackle investment challenges. Andrew works closely with institutional clients to deliver his research through practical applications, advisory projects, and thought leadership publications. Andrew received his Bachelor of Science in Applied Mathematics and Economics from Brown University and Master of Finance from MIT.
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