Cliff Assness: the outlook for the 60/40 portfolio

In a recent interview with TD, Cliff Asness from AQR discuss the past and future of the 60/40 portfolio. This is traditionally defined as a split between the S&P 500 index of stocks (60%) and 10-year government treasury bond (40%) ref. e.g. Goldman Sachs.

A 60/40 portfolio has made about 4,5% over inflation over a hundred years. [The] number today is probably a little bit under but closer to 3%.

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