Quant Legend Cliff Asness Is Back to Defending Value Again
- AQR quant says value spread to growth still wide after rebound
- Low rates shouldn’t derail this year’s comeback, Asness argues
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After a few glorious months, the value faithful are playing defense again. Fortunately, they’ve had quite a bit of practice -- and none more so than Cliff Asness, the godfather of quant investing and co-founder of AQR Capital Management.
As the strategy that favors cheap-looking stocks struggles to find fresh momentum, he’s delivering a familiar refrain this week: The wide valuation spreads between the priciest and cheapest equities still point to a bright future for the value trade.