How should I be positioned? with Cliff Asness (AQR) and Jason Draho (UBS CIO)

In this episode of the "How Should I Be Positioned" podcast, host Dan Cassidy welcomes Jason Draho, Head of Asset Allocation for the Americas at UBS Chief Investment Office, and Cliff Asness, Founder, Managing Principal, and Chief Investment Officer of AQR Capital Management. The discussion centers on market efficiency, the potential for bubbles, and the evolution of factor investing. Cliff Asness shares his perspective on how markets have become less efficient in certain aspects, particularly regarding disparities between expensive and cheap stocks, influenced by factors like passive indexing and social media. The conversation further explores the challenges and opportunities in active management, the role of alternative data, and portfolio construction strategies in an uncertain economic and political environment, emphasizing diversification and trend following.