Cliff Asness — FTX, Hedge Funds and the Value Spread (EP.142)

Cliff Asness is the Founder, Managing Principal and Chief Investment Officer at AQR Capital Management. Prior to co-founding AQR Capital Management, he was a Managing Director and Director of Quantitative Research for the Asset Management Division of Goldman, Sachs & Co.

Cliff joins the show to discuss FTX, AMC , why hedge funds aren’t hedging, the role of index funds and a whole lot more.

Important Links:

• Cliff’s Twitter
  
• Cliff’s Blog
  
• AQR Capital Management
  
• Do Hedge Funds Hedge?
  

Show Notes:

• Cliff’s take on FTX and crypto
  
• The AMC saga
  
• HODL and the MOASS
  
• Finding the right media format for substantive investment conversations
  
• Thoughts on the value spread
  
• “We don’t want a world where markets are perfect”
  
• Hedge funds aren’t hedging
  
• The role of index funds
  
• Never override a model
  
• “Study statistics and stick to your principles”
  

Books Mentioned:

• What Works on Wall Street: A Guide to the Best-Performing Investment Strategies of All Time; by Jim O’Shaughnessy