# Prof. Lasse Pedersen's research on "quality minus junk" investment is cited

1 Faculty News April 15, 2014 ![Barron's logo](/sites/default/files/styles/246w/public/assets/images/con_031072.jpg?itok=FtY-yu99)>

Excerpt from [Barron's](http://blogs.barrons.com/focusonfunds/2014/04/15/vanguards-dividend-etf-a-look-under-the-hood/) -- "So the ETF — whose top components include International Business Machines (IBM), Exxon Mobil (XOM) and 3M (MMM) — is akin to going 'long' the stocks of profitable, stable companies with high-quality earnings, while being 'short' a basket of stocks exhibiting the opposite of those qualities. The idea was developed by Cliff Asness, Andrea Frazzini and [Lasse Pedersen](http://www.stern.nyu.edu/faculty/bio/lasse-pedersen)."
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Read more](http://blogs.barrons.com/focusonfunds/2014/04/15/vanguards-dividend-etf-a-look-under-the-hood/)