S2 EP4: Diversify or Hedge?

Diversification is great, but it’s not the same thing as a hedge. Hedges are helpful downside protection in theory, but in practice they might not be worth it.

Episodes

July 10, 2019

S2Ep4

Diversify or Hedge?

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Diversification is great, but it’s not the same thing as a hedge. Hedges are helpful downside protection in theory, but in practice they might not be worth it.

June 25, 2019

S2Ep3

Inverted Yield Curves

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Conventional wisdom says that when the yield curve inverts, the economy slows down. AQR’s Jordan Brooks and David Kupersmith review the evidence, and discuss what it means for an investor’s bond portfolio.

June 11, 2019

S2Ep2

Commodities: Past, Present, and Futures

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We talk about commodities as an investment and how one investor shared his rules for trading them successfully.

May 28, 2019

S2Ep1

Gaining Momentum

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AQR co-founder and Managing Principal Cliff Asness and Alpha Architect CEO Wes Gray discuss momentum—what it is and why it works.

October 03, 2018

S1Ep10

Fundamental…or Quant?

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Our guests debunk some common misconceptions about two approaches to investing: quantitative and fundamental. And they explain how their differences might actually make them complimentary.

September 26, 2018

S1Ep9

ESG: The Good, the Bad, and the Fuzzy

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Is “doing good” good, bad or neutral for an investor’s portfolio? Three experts explain how they approach ESG investing, or the consideration of environmental, social, and governance issues.

September 19, 2018

S1Ep8

Taking Stock of Stock Myths

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There is risk in every investment. This episode delves into three specific kinds of equity risks that tend to weigh on investors: home bias, market timing and inflation.

September 12, 2018

S1Ep7

Interest Rate Limbo

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We investigate why investors might want bonds in their portfolios, even in a low-yield environment.

September 05, 2018

S1Ep6

Rise of the Machines

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Quantitative, or data-driven, investing has become increasingly ubiquitous—and many of its technologies have become a necessary part of the investment process. In this episode, we explore the past, present and future of quant.

August 29, 2018

S1Ep5

Superstar Investors

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Warren Buffett. Bill Gross. George Soros. Peter Lynch. We take a deep dive into some of the most famous track records in finance, specifically to ask if the themes we’ve covered in this show can explain some of their success.

August 22, 2018

S1Ep4

Hot Hands and Cold Feet

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Sports analogies often help us think about how we make investing decisions. Are there streaks in random data? Do past results affect future ones? How can you get a leg up?

August 15, 2018

S1Ep3

Active versus Passive

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Vanguard founder Jack Bogle and AQR co-founder Cliff Asness have a lively conversation about one of the most epic battles in investing: Do you stick with the index or do you try to beat it?

August 08, 2018

S1Ep2

Face the Factors

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Factors are the building blocks of investment returns. We explain what they are, how they work, and how you can use them in your portfolio.

August 01, 2018

S1Ep1

Silly Things Investors Do

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An all-star lineup, including Nobel Prize winner Richard Thaler, joins The Curious Investor hosts to explain some of the most common biases that creep into our investment decisions.

Meet Our Hosts

Dan Villalon

Managing Director
M.B.A. University of Chicago
B.A. Pomona College
CFA

Dan Villalon is a Managing Director and co-head of the North America Portfolio Solutions Group. In this role, he writes white papers and other research, and oversees the team responsible for client custom analyses — ranging from portfolio construction to tail risk to capturing alternative sources of returns. Dan earned a B.A. in physics from Pomona College and an M.B.A. with a concentration in analytical finance from the University of Chicago Booth’s School of Business.

Gabe Feghali

Vice President
M.B.A. Harvard University
B.S. Cornell University
CFA

Gabe Feghali is a Vice President in AQR’s Business Development team, collaborating with institutional investors throughout the Southern and Eastern U.S. Gabe is a founding member of AQR’s ESG group and previously worked in AQR’s Equity portfolio management team. He earned a B.S. in Operations Research and Industrial Engineering from Cornell University and an M.B.A. from Harvard Business School.

The information set forth in the recordings has been obtained or derived from sources believed by AQR Capital Management, LLC (“AQR”) to be reliable. However, AQR does not make any representation or warranty, express or implied, as to the information’s accuracy or completeness, nor does AQR recommend that the information serve as the basis of any investment decision. The recordings have been provided to you solely for information purposes and does not constitute a current or past recommendation or an offer or solicitation of an offer, or any advice or recommendation, to purchase any securities or other financial instruments, and may not be construed as such. Past performance is not a guarantee of future performance.   These recordings are not research and should not be treated as research. These recordings do not represent valuation judgments with respect to any financial instrument, issuer, security or sector that may be described or referenced herein and does not represent a formal or official view of AQR.

 

The views expressed reflect the current views as of the date hereof and neither the speaker nor AQR undertakes to advise you of any changes in the views expressed herein. It should not be assumed that the speaker will make investment recommendations in the future that are consistent with the views expressed herein, or use any or all of the techniques or methods of analysis described herein in managing client accounts. AQR and its affiliates may have positions (long or short) or engage in securities transactions that are not consistent with the information and views expressed in these recordings.

 

There can be no assurance that an investment strategy will be successful. Historic market trends are not reliable indicators of actual future market behavior or future performance of any particular investment which may differ materially, and should not be relied upon as such. Nothing contained herein constitutes investment, legal, tax or other advice nor is it to be relied on in making an investment or other decision.

 

The information in these recordings may contain projections or other forward‐looking statements regarding future events, targets, forecasts or expectations regarding the strategies described herein, and is only current as of the date indicated. There is no assurance that such events or targets will be achieved, and may be significantly different from that shown here. The information in these recordings, including statements concerning financial market trends, is based on current market conditions, which will fluctuate and may be superseded by subsequent market events or for other reasons. The investment strategy and themes discussed herein may be unsuitable for investors depending on their specific investment objectives and financial situation. Please note that changes in the rate of exchange of a currency may affect the value, price or income of an investment adversely.

 

No representation or warranty, express or implied, is made or given by or on behalf of AQR, the speaker or any other person as to the accuracy and completeness or fairness of the information contained in these recordings, and no responsibility or liability is accepted for any such information. 

 

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