Asset Allocation
Quant Hedge Fund Icon AQR Cuts Back as Investors Exit
Amid a laggard spell for these sophisticated math-centric firms, Cliff Asness’ shop has had a particularly tough time.
His hedge fund firm, Citadel, has thrived for the past 30 years, thanks to his data-driven zeal—and an early start. Way early.
AQR co-founder had called for adding more low-priced stocks, figuring their bad times had ended. Oops.
Lower-cost stocks have outpaced hot-shot momentum plays since August.
AQR CIO says firm is sticking with strategy until proven otherwise.