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Friday, January 04, 2019|
'We've Done Lousily, and I'm Not Blaming Others'
It is "insane" to blame quants for recent stock market woes, at least in the eyes of a liquid alts giant who had a rough 2018 and is "sick of people" blaming quants "without a theory for why."
"We've done lousily, and I'm not blaming others," Asness tells the FT. "It's felt crappy ... It's felt significantly crappy."
Asness notes that last year was AQR's third-worst, performance-wise, since the firm was founded in 1998.
"It's been surprisingly painful, but not as painful as in our first year ... That was devastating," Asness says. "We have faced similar, if not worse, periods before, and we still believe in our results."
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