"I don't know anyone I have not considered a bit of a scammer or a huckster in our broadly defined field who doesn't friggin love crypto and is not willing to sell it to you tomorrow," he says. "It really is that it was just so epically incompetent and fly by night and put together at the last moment and everything hoc that it really wasn't ultimately criminal." He adds: "There's going to be a lot of interesting stuff to come out in the next year if [FTX founder] Sam Bankman does follow through and testify in front of Congress"
Cliff Asness is the Founder, Managing Principal and Chief Investment Officer at AQR Capital Management. Prior to co-founding AQR Capital Management, he was a Managing Director and Director of Quantitative Research for the Asset Management Division of Goldman, Sachs & Co. Cliff joins the show to discuss FTX, AMC , why hedge funds aren’t hedging, the role of index funds and a whole lot more. Important Links:
Show Notes:
- Cliff’s take on FTX and crypto
- The AMC saga
- HODL and the MOASS
- Finding the right media format for substantive investment conversations
- Thoughts on the value spread
- “We don’t want a world where markets are perfect”
- Hedge funds aren’t hedging
- The role of index funds
- Never override a model
- “Study statistics and stick to your principles”
Books Mentioned:
- What Works on Wall Street: A Guide to the Best-Performing Investment Strategies of All Time; by Jim O’Shaughnessy