Cliff Asness
Co-founder of AQR Capital Management; quantitative investor and writer.
Cliff Asness did not write this page. We collected these quotes from things they published elsewhere, and every quote links to where it was said. They have no account here and have not endorsed this site. Quotes are word for word; the short line under each one is our own restatement, not their wording. Their own site. Is this you? Claim it or ask us to remove it.
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3 Sept 2024
Our reading
Their wordsI argue that over the past 30+ years markets have become less informationally efficient in the relative pricing of common stocks, particularly over medium horizons.
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3 Sept 2024
Our reading
Technology has made markets less efficient at long horizons rather than more efficient.
Their wordsAbove I dismissed the notion that technological advances should make the market more efficient in all but the short-term sense. Here, I argue it likely goes the other way at longer horizons. And, IMHO, this is the best of my three hypotheses.