David C. Brown

Quoted in ABC News on the SpaceX stock decline

ABC News asked me why SpaceX stock has kept falling — down about 40% from its post-IPO peak, back near its IPO price. My read: reversals like this tend to follow a big IPO once the initial enthusiasm fades, and the harder question outlasts the volatility — SpaceX pulled off the largest IPO ever before turning a profit, so “will it make enough money to make all of this worthwhile?” is what investors should watch.

Read it at ABC News →

Contributor, "The Human Financial Modeller" — FMI's inaugural Global Leaders Council report

My survey responses fed the Financial Modeling Institute's first Global Leaders Council report, a study of what 63 leading modelers across 26 countries believe about human expertise in an age of AI. The finding I'd highlight: not one of us would trust an AI-generated model for a high-stakes decision without human review — judgment and accountability remain the job.

Read the report →

Quoted in The New York Times on the SpaceX IPO

I spoke with The New York Times' Upshot for “If You Have a 401(k), How Much SpaceX Stock Will You Own?” — on what the largest IPO in history means for everyday index-fund investors. I explained why SpaceX's unusually small public float may be a strategic move to support its price, and why the sheer size of new mega-companies should make index providers think carefully about when to add them: “For most investors, that's where it's going to hit.”

Read it at The New York Times →

Written testimony entered into the U.S. House Financial Services Committee record

I submitted a statement for the record at "From Wall Street to Main Street: The Future of How America Invests" (Rayburn HOB, June 25), making the case that there is no truly "passive" investing — index construction is a series of active, discretionary choices, with the timing of when companies like SpaceX, Anthropic, and OpenAI enter an index as a concrete example.

Watch it entered into the record (52:04) →

Speaker, FMI Global Financial Modeling Conference

Presenting a live session at the Financial Modeling Institute's first 24-hour global online conference (Sept 24), alongside Eric Kelley. I also serve on FMI's Global Leadership Council.

Board member, Four Corners Center for Research on Index Investments

Helping organize our Fall 2026 conference at Dimensional's headquarters in Austin (Sept 30–Oct 1), including the "Active vs. Passive" panel.

Eller Students' Choice Award: Outstanding Faculty Member in Finance

The latest in a run of teaching recognition, following the Dean's Impact Award (2024) and a Poets & Quants Top 50 Undergraduate Business Professor honor.