Clifford Asness: Biography, Career, and Business Insights

Cliff Asness’s Profile Summary

Company	AQR Capital Management
Position	Co-Founder, Managing Principal, and Chief Investment Office
Source of wealth	Hedge fund management via AQR Capital Management Factor-based investing and quantitative strategies
Also known as	Academic and Researcher Philanthropist
Age	59
Education	University of Pennsylvania – Bachelor of Science in Economics, Bachelor of Science in Engineering (summa cum laude) University of Chicago – MBA with high honors, Ph.D. in Finance
Citizenship	United States
Residence	Greenwich, Connecticut
Family	Wife:Laurel Elizabeth Fraser, four children
Website, Social Media	https://www.aqr.com/Insights/Perspectives https://x.com/cliffordasness https://www.linkedin.com/in/cliff-asness/

Biography

Clifford Scott Asness, born on October 17, 1966, in Queens, New York, is a prominent figure in the world of finance, particularly known for his work in quantitative finance. After earning degrees in economics and engineering from the University of Pennsylvania, he pursued his MBA and Ph.D. in Finance from the University of Chicago, where he was a student and teaching assistant to Eugene Fama, a Nobel laureate in Economics. Asness began his career at Goldman Sachs as the director of quantitative research before co-founding AQR Capital Management in 1998 alongside his colleagues from Goldman Sachs.

AQR is recognized for its innovative approaches to factor-based investing and quantitative strategies, managing over $100 billion in assets across various funds, including hedge funds and mutual funds. Asness is also a prolific researcher, having authored numerous influential papers in academic journals, earning multiple awards for his contributions to financial theory.

How did Cliff Asness make money?

Cliff Asness makes money in the following areas:

Hedge fund management via AQR Capital Management Factor-based investing and quantitative strategies
What is Cliff Asness net worth?

As of 2026, Cliff Asness’s net worth is estimated to be $2.939B.

What is Cliff Asness also known as?

Cliff Asness is not only an influential hedge fund manager but also a prominent academic contributor, with papers published in top finance journals. His work has influenced quantitative finance, particularly in factor-based investing and value investing. Asness is also a philanthropist, having made significant donations to causes related to education and financial research.

Prominent achievements

Co-founded AQR Capital Management, one of the largest hedge funds globally.
Awarded multiple times for his academic research, including the Bernstein Fabozzi/Jacobs Levy Award and the Graham and Dodd Award.
Named one of the 50 Most Influential People in Global Finance by Bloomberg Markets

• Published (So) What If You Miss the Market's N Best Days? (June 2025). • Published 2035: An Allocator Looks Back Over the Last 10 Years (January 2025).

What are Cliff Asness’s key insights?

Cliff Asness is a staunch advocate of factor-based investing, which targets specific drivers of returns across asset classes. His philosophy emphasizes the importance of evidence-based strategies, transparency, and systematic approaches to investing, often challenging market inefficiencies through his academic and professional work

Personal life

Clifford Asness is married to Laurel Elizabeth Fraser and has four children

Useful insights

Fundamental principles of investing

As someone deeply immersed in the world of finance, I firmly believe that learning the fundamental principles of investing is the cornerstone of financial literacy. The books I recommend here have shaped modern investment strategies, offering timeless wisdom that can benefit both beginners and seasoned investors. These are not just texts, but essential tools to help you navigate the complexities of the financial markets with confidence and insight.

Benjamin Graham - "The Intelligent Investor"
- Summary:
  
  Written by one of the most influential investment thinkers, this book outlines the principles of value investing. Graham emphasizes the importance of analyzing a company’s intrinsic value, long-term investment strategies, and avoiding emotional decisions driven by market fluctuations. The book also discusses defensive investing, focusing on preservation of capital and minimizing risk.
- Why read it:
  
  This is a must-read for anyone looking to understand the core philosophy behind successful long-term investing. Graham’s principles influenced generations of investors, including Warren Buffett, making it an essential guide to navigating stock market risks with a focus on minimizing losses.
Ray Dalio - "Principles"
- Summary:
  
  Ray Dalio, founder of one of the world’s largest hedge funds, shares the life and work principles that led to his immense success. The book covers Dalio’s unique management and investment strategies, focusing on radical transparency, truth-seeking, and the importance of learning from mistakes. It also provides practical insights into organizational behavior and personal growth, making it valuable beyond just investing.
- Why read it:
  
  Dalio's "Principles" is a treasure trove of wisdom for investors and business leaders who wish to improve their decision-making. It’s a guide on how to align personal and professional life through well-defined, actionable rules.