You’ll have to excuse quantitative fund manager Cliff Asness. In Grant’s Interest Rate Observer, Asness refers to what he describes as “the idiot trade.” No, Asness wasn’t referring to his recent episode of foot-in-mouth disease on Bloomberg TV with Stephanie Ruhle. This was when Ruhle, a former Wall Street brokerage executive turned anchorwoman, called Asness on the table for what she termed a “sexist line.” (Asness said to Ruhle, “You’re giving me that look that I get when I talk to women about quant stuff.”) Cliff Asness: “Idiot trade” is trend following No, the “idiot trade” to which Cliff Asness…
Sexist Comments Aside, Cliff Asness & Jim Grant Highlight Divide
Mark Melin
Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.