A recent interview with the economist Tyler Cowen, in which we cover the basics we believe in (value and momentum) and a lot of other topics.
CalPERS made big news today announcing it will end its investments in hedge funds. AQR has long researched and commented on the hedge fund industry and here we reference that body of work to put CalPERS's decision into context.
Cliff and his colleagues lay out some basic tenets that they think are often ignored but that they think any market-timing system — or any test of such a system — should follow.
"Two-step" bets — where investors try to profit from macroeconomic events by anticipating which companies or currencies the events will most likely affect — are usually a bad idea, or at least much less likely to work out than the original macro insight. Here's why.