Age, Biography and Wiki

Cliff Asness was born on 17 October, 1966 in New York City, U.S., is an American hedge fund manager. Discover Cliff Asness's Biography, Age, Height, Physical Stats, Dating/Affairs, Family and career updates. Learn How rich is he in this year and how he spends money? Also learn how he earned most of networth at the age of 57 years old?

Popular As N/A
Occupation Hedge fund manager
Age 57 years old
Zodiac Sign Libra
Born 17 October 1966
Birthday 17 October
Birthplace New York City, U.S.
Nationality United States

We recommend you to check the complete list of Famous People born on 17 October. He is a member of famous manager with the age 57 years old group. He one of the Richest manager who was born in United States.

Cliff Asness Height, Weight & Measurements

At 57 years old, Cliff Asness height not available right now. We will update Cliff Asness's Height, weight, Body Measurements, Eye Color, Hair Color, Shoe & Dress size soon as possible.

Physical Status
Height Not Available
Weight Not Available
Body Measurements Not Available
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Who Is Cliff Asness's Wife?

His wife is Laurel Elizabeth Fraser

Family
Parents Not Available
Wife Laurel Elizabeth Fraser
Sibling Not Available
Children Not Available

Cliff Asness Net Worth

His net worth has been growing significantly in 2023-2024. So, how much is Cliff Asness worth at the age of 57 years old? Cliff Asness’s income source is mostly from being a successful manager. He is from United States. We have estimated Cliff Asness's net worth, money, salary, income, and assets.

Net Worth in 2024 2.6 billion USD (2020)
Salary in 2024 Under Review
Net Worth in 2023 Pending
Salary in 2023 Under Review
House Not Available
Cars Not Available
Source of Income manager

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Timeline

1966

Clifford Scott Asness (born October 17, 1966) is an American hedge fund manager and the co-founder of AQR Capital Management.

1988

In 1988, Asness graduated summa cum laude from the University of Pennsylvania, from which he received bachelor's degrees double-majoring in computer science and finance as part of the Jerome Fisher Program in Management and Technology (M&T).

Asness's interest in finance and portfolio management began while he worked a research assistant in the Finance Department at Wharton, where he learned to use "coding computer programs" to analyze markets" and "test economic and financial theories".

1989

In 1989, Asness enrolled at the University of Chicago Booth School of Business, where he received his MBA with high honors in 1991, and his PhD in finance in 1994.

1990

Asness started his career in 1990, when he was 24 and still a PhD student.

In the early 1990s, he had left academia, to the regret of his mentor, to become manager of Goldman Sachs Asset Management's (GSAM) "new quantitative research desk."

He invited two friends from his cohort at the University of Chicago to join him at GSAM.

Together, they began "developing models to evaluate risk in currencies, bonds and entire economies."

While the "idea of factors" came from Fama and French, it was first "put into practice" in the late 1990s by Asness, according to The Economist.

Asness and his team at GSAM built on Fama and French's idea of factors, and combined their work with insights he had gained from his own PhD research.

1992

At Chicago, Asness was the teaching assistant (TA) for his dissertation adviser, Nobel laureate Eugene Fama — who was also Asness' mentor — and the economist, Kenneth French, who were both influential and widely-respected empirical financial economists, had established the foundations of their Fama–French three-factor model in 1992.

Fama and French had contrasted value stocks with growth stocks.

Since Fama and French's inception of value stocks, "quants have designed algorithms that can scour market data" looking for "factors".

Asness' doctoral dissertation was on "the performance of momentum trading, buying stocks with rising prices".

Asness asserted that profits consistently beating market averages were attainable by exploiting both value and momentum.

Asness concept of value was referred to in the context of fundamental analysis as a way of assessing the true worth of a security.

His use of the concept of momentum referred to betting that the value will continue to go up or down as it did in the recent past.

While he did not originate these concepts, Asness was credited with being the first to compile enough empirical evidence across a wide variety of markets to bring the ideas into the academic financial mainstream.

1995

In 1995, Asness persuaded a few partners at Goldman to provide him with an initial US$10-million investment to employ the computer-driven models that his team had developed, to invest in the market.

When the $10 million initial investment reached $100 million, Goldman opened the fund to the public—the Goldman Sachs Global Alpha Fund.

Global Alpha, a systematic trading hedge fund was one of the earliest "quant vehicles" in the industry.

The fund became known for high-frequency trading and furthered the careers of Asness and Mark Carhart.

Asness and his team used complicated computerized trading models to first locate underpriced equities, bonds, currencies, and commodities and then use short selling to take advantage of upward or downward price momentum.

The fund was designed to make money regardless of the direction the market was moving.

1997

Asness worked as GSAM manager until 1997, when he and some members of the GSAM team, left to start their own quantitative hedge fund.

1998

In 1998 in New York, when he was 31-years old, Asness, David Kabiller, John Liew, and Robert Krail, co-founded AQR Capital Management, a "quantitative hedge fund firm."

2002

In 2002, Asness made $37 million, and in 2003, he made $50 million.

2004

In 2004, AQR moved its headquarters from New York to Greenwich, Connecticut.

2006

The Wall Street Journal described Asness and Carhart as "gurus" who managed Global Alpha, a "big, secretive hedge fund"—the "Cadillac of a fleet of alternative investments" that had made millions for Goldman Sachs by 2006.

2007

By 2007, at its height, Global Alpha was "one of the biggest and best performing hedge funds in the world" with more than $12 billion assets under management (AUM).

AQR—Applied Quantitative Research—suffered losses during both the "2007 quant meltdown" and the 2008 financial crisis

2008

The quant fund had declined significantly by mid-2008, and continued its decline to $1 billion AUM through 2011.

2010

By the end of 2010, AQR had $33 billion assets under management (AUM).

An October 2010 Bloomberg article, described AQR as a "quantitative investment firm" that used "algorithms and computerized models to trade stocks, bonds, currencies and commodities."

2011

Global Alpha was shutdown in the fall of 2011.

2016

In 2016, Connecticut's State Bond Commission gave $35 million in financial aid to AQR, as part of a "broader move by the Connecticut government to persuade companies", including Bridgewater Associates, the biggest hedge fund in the world, to remain in Connecticut.

2020

According to an April 2020 Forbes profile, Asness' estimated net worth was $2.6 billion.

Asness is Jewish and was born to a Jewish family, in Queens, New York, the son of Carol, who ran a medical education firm, and Barry Asness, an assistant district attorney in Manhattan who was a former Golden Gloves boxer.

His family moved to Roslyn Heights, New York, when he was four.

He attended the B'nai B'rith Perlman Camp, and graduated from Herricks High School.