Infinite Loops

Cliff Asness — FTX, Hedge Funds and the Value Spread (EP.142)

12 snips
Jan 12, 2023
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INSIGHT

Crypto's Bubble Breeds Scams But Not All Is Fraud

  • Crypto attracted scams during its bubble but not all crypto projects are fraudulent.
  • Cliff treats crypto like a price trend product he can trade, not a valuation-based asset class.
ANECDOTE

CNBC Appearance Sparked A Social-Media Firestorm

  • Cliff went on CNBC and gave a few stock names to illustrate factor exposures, not high conviction picks.
  • He named AMC as a small short and then faced intense, hostile online reaction from retail communities.
INSIGHT

Retail Rallies Can Turn Cultish With Moving Goals

  • Online retail movements become cult-like with apocalyptic narratives like MOASS.
  • Such groups resist logic and continuously shift promised dates when outcomes fail to materialize.
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