By
Borsgade
In this Bloomberg interviews, AQR co-founder Cliff Asness discuss the unpredictability of financial markets since 2002. He highlighted how extreme events, like the tech bubble and COVID-19, challenge assumptions. Asness emphasize how investors need to understand not only investment pain, but also the severity and duration.
He criticize the “illusion of control” from internet and social media information overload, suggesting true efficiency remains elusive despite faster access. Asness note AQR’s strong performance partly reflects market fluctuations and adjustments to adapt to the changing landscape.
If you ever have the misfortune to have an investment that ever goes down for any amount of time. You will learn something that they don’t teach you in a Ph.D. program. Severity is bad, but duration is underrated when it comes to pain. Three years of pain, even if it’s cumulatively not worse than a year and a half of pain is a ton worse.
Share the news
The above has been prepared by Børsgade ApS for information purposes and cannot be regarded as a solicitation or recommendation to buy or sell any security. Nor can the information etc. be regarded as recommendations or advice of a legal, accounting or tax nature. Børsgade cannot be held liable for losses caused by customers’/users’ actions – or lack thereof – based on the information in the above. We have made every effort to ensure that the information in the above is complete and accurate, but cannot guarantee this and accept no liability for errors or omissions.
Readers are advised that investing may involve a risk of loss that cannot be determined in advance, and that past performance and price development cannot be used as a reliable indicator of future performance and price development. For further information please contact info@borsgade.dk
In this interview, Guy Spier explains that in a randomly selected portfolio held over a long period, most returns come from a few big winners, while many stocks do little or lose value.
In their recent article, the team at Bridgewater analyzes the exceptional performance of US equities over the past decade, breaking down the key drivers of outperformance and discussing the outlook for continued success.
In this research article, Michael Mauboussin analyzes the concept of market share. In essence, he argues that market share is an important but insufficient gauge of competitive advantage.
On this CNBC interview, David Tepper, Appaloosa Management founder and president, discuss his thoughts a number of topics, not least his bets on the Chinese market and where he’s finding opportunities.
