Cliff Asness
Cliff Asness: The Stock Market is Expensive, Not a Bubble – A Call for Rationality in a Less Efficient Market
New York, NY – November 10, 2025 – In a financial landscape often characterized by extremes, Cliff Asness, the influential co-founder of AQR Capital Management, offers a nuanced yet stark assessment of the current stock market: it is undeniably expensive, but crucially, it does not fit his stringent definition of a bubble.