In August 1998, the stock market dropped about 20% over a month (the 'crash that nobody remembers'), which AQR survived profitably in their first month of operation by running a market-neutral strategy that was long and short similar amounts of stocks.

factualpending

Speaker

Cliff Asness

Evidence Quote

the first month of our existence, the market drops like 20% and we're up.

Source

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

My Notes

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