Podcast

Fundamental…or Quant?

Topics - Portfolio Construction Factor/Style Investing

The Curious Investor hosts Gabe Feghali and Dan Villalon welcome three guests to discuss the differences between quantitative and fundamental investing styles and how implementing them affects portfolios. AQR co-founder and Managing Principal Cliff Asness, and Lee Ainslie, Managing Partner of Maverick Capital, talk about how they arrived at these different approaches to investing. They also debunk some common misconceptions about both quant and fundamental investing and discuss how managers within each type are correlated. And finally, Adrienne Ross, from AQR’s global stock selection team, helps listeners put the two investing approaches into perspective when it comes to returns.

 

The information set forth in the recordings has been obtained or derived from sources believed by AQR Capital Management, LLC (“AQR”) to be reliable. However, AQR does not make any representation or warranty, express or implied, as to the information’s accuracy or completeness, nor does AQR recommend that the information serve as the basis of any investment decision. The recordings have been provided to you solely for information purposes and does not constitute a current or past recommendation or an offer or solicitation of an offer, or any advice or recommendation, to purchase any securities or other financial instruments, and may not be construed as such. Past performance is not a guarantee of future performance.   These recordings are not research and should not be treated as research. These recordings do not represent valuation judgments with respect to any financial instrument, issuer, security or sector that may be described or referenced herein and does not represent a formal or official view of AQR.

 

The views expressed reflect the current views as of the date hereof and neither the speaker nor AQR undertakes to advise you of any changes in the views expressed herein. It should not be assumed that the speaker will make investment recommendations in the future that are consistent with the views expressed herein, or use any or all of the techniques or methods of analysis described herein in managing client accounts. AQR and its affiliates may have positions (long or short) or engage in securities transactions that are not consistent with the information and views expressed in these recordings.

 

There can be no assurance that an investment strategy will be successful. Historic market trends are not reliable indicators of actual future market behavior or future performance of any particular investment which may differ materially, and should not be relied upon as such. Nothing contained herein constitutes investment, legal, tax or other advice nor is it to be relied on in making an investment or other decision.

 

The information in these recordings may contain projections or other forwardlooking statements regarding future events, targets, forecasts or expectations regarding the strategies described herein, and is only current as of the date indicated. There is no assurance that such events or targets will be achieved, and may be significantly different from that shown here. The information in these recordings, including statements concerning financial market trends, is based on current market conditions, which will fluctuate and may be superseded by subsequent market events or for other reasons. The investment strategy and themes discussed herein may be unsuitable for investors depending on their specific investment objectives and financial situation. Please note that changes in the rate of exchange of a currency may affect the value, price or income of an investment adversely.

 

No representation or warranty, express or implied, is made or given by or on behalf of AQR, the speaker or any other person as to the accuracy and completeness or fairness of the information contained in these recordings, and no responsibility or liability is accepted for any such information.

 

©2018 AQR Capital Management, LLC. All rights reserved.