Found via Mebane Faber.
For this issue’s Morningstar Conversation, we talk with two quant-investing legends— Cliff Asness, co-founder of AQR Capital Management, and Robert Arnott, chairman of Research Affiliates—to gain insights on where academic theory is being practically applied in the marketplace. AQR, a hedge fund shop, recently rolled out a suite of factor-exploiting products in the mutual fund arena. Gone are the days of 2-and-20 fees for access to exotic betas a la carte. Research Affiliates, through its subadvisory of PIMCO All Asset PAAIX and its Fundamental Indexing concepts, has taken active quant investing to the masses (with strong performance, to boot).