Category Archive

During his recent interview with Money Talks, Cliff Asness explained how to harness the power of diversification. Here’s an excerpt from the interview: Asness: There are a few things. I probably first leapt into this by responding to a Journal of Portfolio Management article back in the early ninety’s, and … Read More

In this interview with Infinite Loops, Cliff Asness explains why if you think you’re right about an investment, you should hold on for dear life (HODL). Here’s an excerpt from the interview: Asness: It does not make all sock companies attractive at any valuation in any financial condition. I don’t … Read More

In his recent interview with Talks At GS, Cliff Asness explains why if great investing was easy, everyone would do it, and the premium would go away. Here’s an excerpt from the interview: Asness: So there is a right side. It makes for an excruciating life because you have to … Read More

In his recent article titled – Is Value Just an Interest Rate Bet?, Cliff Asness discusses whether value investing really is an interest rate bet. Here’s an excerpt from the article: Frankly, the assumption of so many pundits who state, when value versus growth has been trading correlated to interest … Read More

In his recent interview with CNBC, Cliff Asness discussed some common misconceptions about buybacks. Here’s an excerpt from the interview: Host: President Biden recently saying Exxon makes more money than God, and has criticized Exxon for buying back stock instead of investing in drilling to help Americans. I asked Asness … Read More

In his latest article titled – Value Investing Is Not All About Tech, Cliff Asness explains why his value bet is not tech vs the world. Here’s an excerpt from the article: In other words, there are many different kinds of strategies and bets that are often labeled “value.” Tech … Read More

In his latest interview on the Family Investment and Impact Series, Cliff Asness explains how his early life made him focus on ‘Moneyball’ type stocks. Here’s an excerpt from the interview: I think intuitive. I think we did have those experiences, and this came later in life. I was not this … Read More

In his recent interview in the All Else Equal Podcast, Cliff Asness explains why FOMO means investors can’t tell you about their losers. Here’s an excerpt from the interview: Asness: So by the way, this is not different than fear of missing out, FOMO on Facebook. They tell us there’s … Read More

In his latest article titled – Shorting Counts, Cliff Asness responds to the recent Man Group article titled – “Short-selling does not count as a carbon offset. Here’s an excerpt from his response: What does that mean? It’s instructive to back up and examine how the more traditional non-shorting ESG … Read More

In his latest interview on the FEG Insight Bridge Podcast, Cliff Asness explains why everything is extremely expensive versus history. Here’s an excerpt from the interview: So by and large, a stock and a bond portfolio, call it U.S. 60/40. You could do a million different versions of this, right? And … Read More

In a recent article at the Financial Times, Cliff Asness explains why his firm is positioned for one of the most robust recoveries for factor investing since the tech bubble of 1999. Here’s an excerpt from the article: A computer-powered investment fund run by AQR posted double-digit gains in the … Read More

In this interview on Bloomberg, Cliff Asness was asked if he will continue to follow his investing strategy which has underperformed recently. Here’s an excerpt from the interview: Asness: We try very hard to approach that question with a very open mind. My mother-in-law’s fond of saying – you want … Read More

In his latest insight titled – Shorting Your Way To A Greener Tomorrow, Cliff Asness examines the use of shorting in an ESG context. Here’s an excerpt from the insight: My colleagues (and even I) have written extensively on responsible investment, as in the use of ESG factors in investment … Read More

In this interview on The Bogleheads Podcast, Cliff Asness discussed his time with Gene Fama, and the confusion around value investing. Here’s an excerpt from the interview: Rick Ferri: Well let me ask just a couple of questions on what you just said. Did Fama ever call what he did … Read More

In his latest commentary titled – Are Value Stocks Cheap for a Fundamental Reason?, Cliff Asness discusses why the current high value spread is forecasting high expected returns, not lower than usual fundamental growth rates for cheap versus expensive stocks. Here’s an excerpt from the commentary: We have been discussing … Read More

During the latest Management Conference ’21: Keynote Conversation with Cliff Asness, David Booth, and Eugene F. Fama, AQR’s Cliff Asness discusses the important of sticking with your strategy, especially when it becomes really hard. Here’s an excerpt from the conference: Asness: This is a little depressing and a little wonderful … Read More

In a recent interview with Front Row, Cliff Asness discussed the difficulty of sticking with your process, keeping staff and clients, and controlling your emotions, when your strategy is underperforming. Here’s an excerpt from the interview: Asness: I am very proud of the fact that as much as I can … Read More

In his latest piece titled – The Replication Crisis That Wasn’t, Cliff Asness recommends reading Larry Swedroe and Alpha Architect’s summary of his colleague’s new paper titled – Is There A Replication Crisis In Finance. The summary states: “For investors, the important takeaway is that despite the proliferation in the … Read More

Here’s a great interview with Cliff Asness on Bloomberg’s Front Row with Erik Schatzker. Asness discusses his faith in factors after 2 1/2 years of poor returns. He remains as confident as ever in the quantitative strategies that powered the firm’s growth for two decades. He also discusses the emotional … Read More

Cliff Asness had just written another great piece titled – A Gut Punch, in which he discusses, this year, “with its two very different phases (January to October and November to present) where we (and many quants in general) have managed to stink in both. I’m going to focus my … Read More