Jim Grant Takes On Risk Parity, Ray Dalio, And Cliff Asness
The hedge fund industry has become increasingly concentrated in just a handful of funds, with Bridgewater Associates and AQR Capital Management leading the pack. But the latest issue of Grant’s Interest Rate Observer argues that while the risk parity portfolio championed by Ray Dalio and Cliff Asness has done well in recent years it is now past its prime and can’t continue to perform indefinitely.
“Dalio and Asness are, of course, formidable Wall Street thinkers . . .
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