Part 6/9:
In discussing the unpredictability of political actions, he recommends that while AQR's core strategy remains unchanged, they can occasionally adapt their exposure to risk in light of significant macroeconomic threats. The shifting landscape influenced by current administrations serves as an example of how even data-centric firms must navigate broader economic uncertainties.
Cliff's Cynicism Towards Cryptocurrency and Private Investments
Asness expresses a skeptical view on cryptocurrency, humorously labeling it a speculative tool devoid of substantial utility beyond limited scenarios like cyber ransoms and war-torn economies. He expresses his reluctance to engage in actively shorting highly volatile assets like crypto but maintains a clear stance in terms of its value proposition.