Every investment strategy is subject to peaks and valleys of performance. The skill for investors is to be able to recognize whether they are using a good process that is temporarily underperforming or they are stuck with a bad process. In this video, AQR Founder John M. Liew talks about how AQR combines economic intuition with rigorous empirical testing in developing its investment strategies. Sharing that information with clients helps them to better understand the strategy. That can help investors to weather short periods of underperformance and stick with strategies that have the potential to outperform over the long haul.