Cliff Asness - Surviving the Meme Stock Bubble (Ep. 298)
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People debate whether prospect theory is real, that losses hurt more than gains. It's very real to me. And me. In good years, I'm like, well, there's a lot of randomness to this. I'm just, uh, you know, I I think we'll make money long term, but but that was probably luck.
In bad years, I'm like, I don't invest based on this. I'm pretty good about avoiding that, but I have every bad emotion. that that we attribute to investors. Losses hurt. They're not supposed to.
You're supposed to just do the rational strategy and keep repeating, but uh we live in the real world. Welcome back to another Infinite Loops. I'm Jim O'Shaughnessy and I'm thrilled to be joined today by my friend Cliff Astnes. Cliff is the co-founder and chief investment officer of AQR. Capital Management, one of the world's largest and most influential quantitative investment firms.
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