Cliff Asness - "...But Not So Open Your Mind Falls Out" (S3E13)
Flirting with Models
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Investing in REITs
No matter how bespoke the model and how many bells and whistles you've built in. If you follow it with a decent amount of rigor you are being a non discretionary manager. The decision in all investing is almost always the same. It's never do I believe this that's binary. So if there is something within industry value being better than across industry value. That result has held up for the 26 year out of sample period.
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