If you are a regular reader of The Economist including last week’s issue that had a feature on how Wall Street has been taken over by computers, you might hear of a quantitative hedge fund manager called Clifford Asness.
Clifford Asness is the Founder, Managing Principal and Chief Investment Officer of AQR Capital Management. He has degrees in engineering and economics, an MBA, and a PhD in Finance. Google estimates his net worth to be $2.8B which is not particularly high compared to other investing greats such as Ray Dalio ($18.4B) or Warren Buffett($81.8B).
Clifford Asness was once a student of Eugene Fama and built AQR Capital as a hedge fund that focuses on Factor Investing where a portfolio of stocks is assembled based on properties of stocks that may signify value, quality or even momentum.
AQR Capital, while not the most successful amongst quantitative hedge fund, is distinguished by