Episode
Cliff Asness on Bubbles, Private Equity and His Research Greatest Hits
- Podcast
- Excess Returns
- Published
- May 23, 2026
- Duration seconds
- 4728
- Processing state
not_requested
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Summary
Cliff Asness returns to Excess Returns for a greatest hits tour through some of his most important and entertaining investing ideas. We discuss bubble logic, today’s AI market comparisons, why volatility still matters as a risk measure, private equity “volatility laundering,” international diversification, market timing myths, pulling the goalie, and how machine learning is changing quantitative investing. Cliff Asness on X https://x.com/CliffordAsness AQR Capital Management https://www.aqr.com/ Papers Discussed Bubble Logic: Or, How to Learn to Stop Worrying and Love the Bull https://www.aqr.com/Insights/Research/Working-Paper/Bubble-Logic-Or-How-to-Learn-to-Stop-Worrying-and-Love-the-Bull Rubble Logic: What Did We Learn From the Great Stock Market Bubble? https://www.aqr.com/Insights/Research/Journal-Article/Rubble-Logic My Top 10 Peeves https://www.aqr.com/-/media/AQR/Documents/Insights/Journal-Article/My-Top-10-Peeves.pdf Volatility Laundering https://www.aqr.com/Insights/Perspectives/Volatility-Laundering I Did Not Predict What Is Going on in Privates https://www.aqr.com/Insights/Perspectives/I-Did-Not-Predict-What-is-Going-on-in-Privates (So) What If You Miss the Market's N Best Days? https://www.aqr.com/Insights/Perspectives/So-What-If-You-Miss-the-Markets-N-Best-Days International Diversification Works (Eventually) https://www.aqr.com/Insights/Research/Journal-Article/International-Diversification-Works-Eventually International Diversification - Still Not Crazy after All These Years https://www.aqr.com/Insights/Research/Journal-Article/International-Diversification-Still-Not-Crazy-after-All-These-Years Perhaps the Most Important Essay I Will Ever Co Author https://www.aqr.com/Insights/Perspectives/Perhaps-the-Most-Important-Essay-I-Will-Ever-Co-Author Main topi…