Cliff Asness on Bubbles, Private Equity and His Research Greatest Hits

About this episode

Cliff Asness discusses his key investing ideas, including bubble logic and the impact of AI on markets.

Cliff Asness returns to Excess Returns for a greatest hits tour through some of his most important and entertaining investing ideas. We discuss bubble logic, today’s AI market comparisons, why volatility still matters as a risk measure, private equity “volatility laundering,” international diversification, market timing myths, pulling the goalie, and how machine learning is changing quantitative investing. Cliff Asness on X https://x.com/CliffordAsness AQR Capital Management https://www.aqr.com/ Papers Discussed Bubble Logic: Or, How to Learn to Stop Worrying and Love the Bull https://www.aqr.com/Insights/Research/Working-Paper/Bubble-Logic-Or-How-to-Learn-to-Stop-Worrying-and-Love-the-Bull Rubble Logic: What Did We Learn From the Great Stock Market Bubble? https://www.aqr.com/Insights/Research/Journal-Article/Rubble-Logic My Top 10 Peeves https://www.aqr.com/-/media/AQR/Documents/Insights/Journal-Article/My-Top-10-Peeves.pdf Volatility Laundering https://www.aqr.com/Insights/Perspectives/Volatility-Laundering I Did Not Predict What Is Going on in Privates https://www.aqr.com/Insights/Perspectives/I-Did-Not-Predict-What-is-Going-on-in-Privates (So) What If You Miss the Market's N…

People in this episode

Guest: Cliff Asness

Topics covered

• investing ideas
• bubble logic
• AI market comparisons
• volatility as a risk measure
• private equity
• international diversification
• quantitative investing

Keywords

• Cliff Asness
• investing
• bubble logic
• private equity
• volatility
• machine learning
• quantitative investing
• international diversification

Mentioned in this episode

Organizations: AQR Capital Management

Books & works: Bubble Logic: Or, How to Learn to Stop Worrying and Love the Bull, Rubble Logic: What Did We Learn From the Great Stock Market Bubble?, My Top 10 Peeves, Volatility Laundering, I Did Not Predict What Is Going on in Privates, (So) What If You Miss the Market's N Best Days?, International Diversification Works (Eventually)

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