Collections

Value Investing

Value investing – buying securities that appear cheap relative to fundamentals – has a long history in financial markets. Explore our library of research on this famed topic.

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Macroeconomic Investing

Rapid economic growth accompanied by large increases in prices for many goods and services has led to unusually high level of uncertainty around inflation. This may prompt investors to question how different inflationary outcomes can impact their portfolio and what they can do to reduce their portfolio's sensitivity. To address investors' questions, we have rounded up some of our best thinking on the topic.

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Portfolio Construction

Diversification. Craftsmanship. What goes into building an effective portfolio? We’ve rounded up our best thinking on the topic.

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Diversification

Diversification is a crucial factor in long-term investment success, but many investors are overly reliant on stocks and bonds, which may not deliver in the future as strongly as in the recent past. How should investors diversify, and into what? Read our collection of research papers on the benefits of diversification and what strategies can help portfolios weather unfavorable market environments.

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Cliff's Perspectives

Value  

We Are Not Just Value! Except, You Know, When We Are...

Our systematic stock selection process is far from just “value.” And yet from 2018-2020 for the bad and 2021-2022 for the good, our world has indeed been all about value. What gives? This post reviews our correlation to value, delving into a few periods when it became the dominant part of our process. We find that when value dominates, it has usually been in bubble periods of irrational losses for value (and in their more pleasant aftermaths).

Cliff Asness, AQR

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Factor/Style Investing  

Value Investing Is Not All About Tech

Factor/Style Investing  

Still Crazy After All This YTD

ESG Investing  

Shorting Counts

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