Comparing tech companies to textiles on valuation multiples is inappropriate because industries have different structural growth prospects that justify different multiples, and AQR avoids making concentrated industry bets despite the dispersion in valuations.

normativepending

Speaker

Cliff Asness

Evidence Quote

we think comparing tech to, I'll make up an extreme to textiles on valuation multiples is a little crazy.

Source

The Bridge Ep. 11: Expensive Isn't a BubbleiCapital
Created: 8/12/2026, 6:23:51 PM

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