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Asness finds investor behaviour fascinating – and profitable

The founder of AQR draws on his academic studies to come up with market-beating strategies

Asness finds investor behaviour fascinating – and profitable
Photo: Getty Images

The capital markets bear witness to the struggle between greed and fear, which Cliff Asness has turned to his advantage for more than 20 years.

He set up AQR Capital Management in 1998, after a four-year stint at Goldman Sachs, confident that his research into behavioural finance would deliver outperformance, over time.

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