Interview With Andrew Lo: Masters in Business (Audio)
Masters in Business
00:00
It Takes a Theory to Beat a Theory
AQR: In academia, it's not good enough to just throw stones at an idea. You've got to come up with a better one. AQR: There really aren't any bad ideas; we have approximations to reality. We try to improve on those approximations one after the other. It takes a long time before these theories are finally put to rest and the newer ones replace them.
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