I don’t agree withe everything that Cliff Asness, managing & founding principal of the hedge fund AQR Capital Management, says, but you cannot argue with his deep mathematical understanding of markets.
Last year, Asness wrote a provocative piece in the WSJ about what’s holding the economy back, arguing that “Uncertainty is Not the Problem.” Asness wrote:
“Many commentators blame our continuing economic woes on ‘uncertainty.’ They allege that recent and anticipated dramatic policy changes make business planning difficult, and that this is retarding growth and employment. This view is not wrong—but our main problem is not the uncertainty surrounding new policies. It is the policies.”
Here’s a recent video from AEI’s World Forum: