The Curious Investor

The Curious Investor

We break down some of the most important ideas in finance to help us make better investment decisions. Disclaimer: This podcast was recorded in 2018. The views expressed in this recording are the personal views of the participants as of the date indicated and do not necessarily reflect the views of AQR itself. AQR and its affiliates may have positions (long or short) or engage in securities transactions that are not consistent with the information and views expressed in this presentation. This recording has been prepared solely for informational purposes. Nothing contained in this podcast constitutes investment, legal, tax or other advice, and it should not be viewed as a current or past recommendation or a solicitation of an offer to buy or sell any securities or to adopt any investment strategy. Past performance is no guarantee of future results. There can be no assurance that any investment strategy will be successful. The investment strategies and themes discussed herein may be unsuitable for investors depending on their specific investment objectives and financial situation. The information in this recording is based on current market conditions, which will fluctuate and may be superseded by subsequent market events or for other reasons. AQR does not assume any duty to update forward looking statements. The information in this recording has been developed internally and/or obtained from sources believed to be reliable; however, no representation or warranty, express or implied, is made or given by or on behalf of AQR as to the accuracy and completeness or fairness of the information contained in this recording. Any liability as a result of this recording (including any direct, indirect, special or consequential loss or damage) is expressly disclaimed. ©2018 AQR Capital Management, LLC. All rights reserved.

Episodes

October 2, 2019 22 mins
How do we learn from situations where there are other forces at play? Former professional poker player and author Annie Duke looks at decisions when the outcomes are beyond our control, and AQR’s Toby Moskowitz delves into who is on the other side in factor investing. This podcast was recorded on October 2, 2019. The views expressed in this recording are the personal views of the participants as of the date indicated and do not ne...
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Craftsmanship can be just as challenging for investors as it is for restaurateurs—to be successful, it involves finding the right balance of ingredients and creating a sustainable process. Tom Colicchio, Chef and Owner of Crafted Hospitality, and Adrienne Ross talk about how to build a system that works. This podcast was recorded on June 3, 2019. The views expressed in this recording are the personal views of the participants as of...
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September 4, 2019 20 mins
Machine learning is thriving thanks to high-powered computing and a flood of data. But when it comes to investing, more data doesn’t necessarily mean better predictions. Horst Simon, Chief Research Officer of the Lawrence Berkeley National Laboratory, and Bryan Kelly, Head of Machine Learning at AQR, discuss the promise and potential perils of these computing advancements.    This podcast was recorded on May 17, 2019. The views ex...
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August 21, 2019 29 mins
Risk is part of any endeavor, whether you’re managing money or multi-million-dollar robots on Mars. Steve Squyres, the Scientific Principal Investigator of the Mars Exploration Rover Project, and AQR’s Lars Nielsen offer two unique perspectives on managing risk. This podcast was recorded on April 15, 2019. The views expressed in this recording are the personal views of the participants as of the date indicated and do not necessari...
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July 24, 2019 20 mins
Mark Mitchell of AQR affiliate CNH Partners explains how, why, and when merger arbitrage works – and why knowing this still doesn’t make it easy. This podcast was recorded on May 3, 2019. Effective January 1, 2021 CNH Partners, LLC was renamed to AQR Arbitrage, LLC. The views expressed in this recording are the personal views of the participants as of the date indicated and do not necessarily reflect the views of AQR itself. AQR an...
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July 10, 2019 25 mins
Diversification can help returns over the long-term but hedging offer advantages in the short term. Ronen Israel and Roni Israelov share their insights about each. This podcast was recorded on March 22, 2019. The views expressed in this recording are the personal views of the participants as of the date indicated and do not necessarily reflect the views of AQR itself. AQR and its affiliates may have positions (long or short) or en...
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June 26, 2019 22 mins
Conventional wisdom says that when the yield curve inverts, the economy slows down. AQR Principal Jordan Brooks and David Kupersmith review the evidence, and discuss what it means for an investor’s bond portfolio. This podcast was recorded on May 21, 2019. The views expressed in this recording are the personal views of the participants as of the date indicated and do not necessarily reflect the views of AQR itself. AQR and its aff...
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Caroline Sasseville walks us through commodities—what they are, how their returns behave, and what investors should consider before investing. Bill Eckhardt of Eckhardt Trading Company tells us about trend following and his legendary commodities experiment with the “turtle traders.” This podcast was recorded on April 8, 2019. The views expressed in this recording are the personal views of the participants as of the date indicated ...
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May 29, 2019 24 mins
AQR co-founder and Managing Principal Cliff Asness and Alpha Architect CEO Wes Gray discuss momentum – what it is and why it works. This podcast was recorded on April 1, 2019. The views expressed in this recording are the personal views of the participants as of the date indicated and do not necessarily reflect the views of AQR itself. AQR and its affiliates may have positions (long or short) or engage in securities transactions t...
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May 22, 2019 1 min
Welcome to the second season of The Curious Investor, a podcast that tackles complex financial topics and explains how investing should be grounded in a healthy dose of skepticism and economic intuition. This podcast was recorded on April 15, 2019. The views expressed in this recording are the personal views of the participants as of the date indicated and do not necessarily reflect the views of AQR Capital Management, LLC  (“AQR...
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October 3, 2018 19 mins
Our guests debunk some common misconceptions about two approaches to investing: quantitative and fundamental. And they explain how their differences might actually make them complimentary. Disclaimer: This podcast was recorded on August 1, 2018. The views expressed in this recording are the personal views of the participants as of the date indicated and do not necessarily reflect the views of AQR itself. AQR and its affiliates may...
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September 26, 2018 15 mins
Is “doing good” good, bad or neutral for an investor’s portfolio? Three experts explain how they approach ESG investing, or the consideration of environmental, social, and governance issues. Disclaimer: This podcast was recorded on July 25, 2018. The views expressed in this recording are the personal views of the participants as of the date indicated and do not necessarily reflect the views of AQR itself. AQR and its affiliates may...
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September 19, 2018 19 mins
There is risk in every investment. This episode delves into three specific kinds of equity risks that tend to weigh on investors: home bias, market timing and inflation. Disclaimer: This podcast was recorded on July 18, 2018. The views expressed in this recording are the personal views of the participants as of the date indicated and do not necessarily reflect the views of AQR itself. AQR and its affiliates may have positions (lon...
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September 12, 2018 16 mins
We investigate why investors might want bonds in their portfolios, even in a low-yield environment. Disclaimer: This podcast was recorded on July 11, 2018.The views expressed in this recording are the personal views of the participants as of the date indicated and do not necessarily reflect the views of AQR itself. AQR and its affiliates may have positions (long or short) or engage in securities transactions that are not consisten...
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September 5, 2018 17 mins
Quantitative, or data-driven, investing has become increasingly ubiquitous — and many of its technologies have become a necessary part of the investment process. In this episode, we explore the past, present and future of quant. Disclaimer: This podcast was recorded on June 27, 2018. The views expressed in this recording are the personal views of the participants as of the date indicated and do not necessarily reflect the views of...
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August 29, 2018 16 mins
Warren Buffett. Bill Gross. George Soros. Peter Lynch. We take a deep dive into some of the most famous track records in finance, specifically to ask if the themes we’ve covered in this show can explain some of their success. Disclaimer: This podcast was recorded on June 12, 2018. The views expressed in this recording are the personal views of the participants as of the date indicated and do not necessarily reflect the views of A...
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August 22, 2018 18 mins
Sports analogies often help us think about how we make investing decisions. Are there streaks in random data? Do past results affect future ones? And most importantly, if you know people have certain biases, what can you do to get a leg up? Special guest Kevin Kelley, coach of the Pulaski Academy High School football team in Little Rock, Arkansas, tells us how statistics have helped his team win without a kicker. Disclaimer: This ...
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August 15, 2018 21 mins
Vanguard founder Jack Bogle and AQR co-founder Cliff Asness have a lively conversation about one of the most epic battles in investing: Do you stick with the index or do you try to beat it? Disclaimer: This podcast was recorded on May 15, 2018. The views expressed in this recording are the personal views of the participants as of the date indicated and do not necessarily reflect the views of AQR itself. AQR and its affiliates may...
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August 8, 2018 23 mins
Factors are the building blocks of investment returns. We explain what they are, how they work, and how you can use them in your portfolio. Disclaimer: This podcast was recorded on May 9, 2018. The views expressed in this recording are the personal views of the participants as of the date indicated and do not necessarily reflect the views of AQR itself. AQR and its affiliates may have positions (long or short) or engage in securi...
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August 1, 2018 17 mins
An all-star lineup walks us through some of the most common biases that creep into our investment decisions. The University of Chicago’s Richard Thaler, who won the 2017 Nobel Prize in Economics, shares some of his most surprising (and controversial) insights into behavioral finance. And we’re joined by two professors of economics at Yale University, Nicholas Barberis and AQR’s own Toby Moskowitz, who offer practical actions to kee...
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