AQR's Founder Sees Red After Two Bottles
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Wednesday, July 13, 2011

AQR's Founder Sees Red After Two Bottles

Rep. Paul Ryan's (R-WI) night out with two buddies and a pair of $350 bottles of Pinot Noir last Wednesday night has landed him in some hot water, TPM reports.

The pub reports that the three men, including hedge fund operator Cliff Asness of AQR Capital and John Cochrane, were reportedly seen ordering the $700 worth of wine at Bistro Bis in Washington D.C. by Susan Feinberg, an associate professor of business at Rutgers University. Feinberg, who dined at the restaurant with her husband, reportedly confronted Ryan about the high-end wine. Ryan told her he did not know the price of the wine and Asness threw an F-bomb at the professor, Feinberg told the pub.

Asness is founding and managing principal of Greenwich, Connecticut-based AQR Capital, which runs hedge funds and mutual funds. He is an opponent of President Obama's economic policies.

Ryan told the pub that he decided to pay for one of the bottles of wine after being confronted by Feinberg "out of an abundance of caution" and has produced a copy of his credit card receipt to back up his claims. Congressional ethics rules do not allow congressmen from taking gifts worth more than $100 from anyone.

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