Cliff Asness is an American investment manager, researcher, and a co-founder of AQR Capital Management, a global investment management firm known for its quantitative, research-driven approach to investing. Asness is a well-known figure in the finance industry, particularly in the field of quantitative finance, and has contributed to the development and popularization of factor-based investing.
Here are some key aspects of Cliff Asness's life and career in detail:
- Early life and education: Clifford Scott Asness was born on October 17, 1966, in Queens, New York. He earned his Bachelor's degree in Economics and International Relations from Binghamton University in 1988. Asness continued his education at the University of Chicago, where he received an MBA in 1991 and a Ph.D. in Finance in 1994. His doctoral thesis, supervised by Eugene Fama, explored the relationship between stock returns and various fundamental factors.
- Career before AQR: Before co-founding AQR, Cliff Asness worked at Goldman Sachs as a researcher and portfolio manager in the Asset Management Division. During his time at Goldman Sachs, Asness managed the firm's quantitative research efforts and was instrumental in developing and implementing quantitative investment strategies.
- AQR Capital Management: In 1998, Cliff Asness, along with David Kabiller, Robert Krail, and John Liew, founded AQR Capital Management. The firm is known for its quantitative, research-driven approach to investing and offers a diverse range of investment strategies across asset classes. Asness serves as the Chief Investment Officer (CIO) of AQR, leading the firm's research and investment process.
- Research and thought leadership: Cliff Asness has published numerous research papers and articles in leading academic and practitioner journals. His work has focused on various aspects of quantitative finance, including factor-based investing, risk management, and market anomalies. Asness is also an outspoken advocate for transparency and education in the investment management industry, frequently sharing his insights and engaging in thought leadership initiatives.
- Awards and recognition: Cliff Asness has received several awards and honors for his contributions to the field of finance, including the James R. Vertin Award from the CFA Institute, which recognizes individuals who have produced a body of research notable for its relevance and enduring value to investment professionals.
- Personal life: Cliff Asness is married to Laurel Elizabeth Asness, and they have four children. He is known for his sense of humor, which he often displays in his writings and public appearances, and for his love of comic books and superheroes.
In summary, Cliff Asness is an American investment manager, researcher, and co-founder of AQR Capital Management. He has made significant contributions to the field of quantitative finance, particularly in the area of factor-based investing. Asness is known for his commitment to research, transparency, and education in the investment management industry, and he has received numerous awards and honors for his work.