Antti Ilmanen, AQR – Investing Amid Low Expected Returns: Making the Most When Markets Offer the Least | #413
Today’s guest is Antti Ilmanen, Principal and Global Co-head of the Portfolio Solutions Group at AQR Capital Management and author of Investing Amid Low Expected Returns: Making the Most When Markets Offer the Least. In today’s episode, Antti provides a blueprint for investors as decades of tailwinds are turning into headwinds. He highlights timeless investment practices and what the empirical evidence says about things major asset class premia, illiquidity premia and style premia. He shares his thoughts on home country bias, the value / growth spread today, and what he thinks about diversifiers like trend following. One theme throughout the episode is Antti’s advice to endorse humility in tactical forecasting and through diversification.
Key Points
- Antti Ilmanen, principal and global co-head of the Portfolio Solutions group at AQR Capital Management, discusses investing strategies amid low expected returns, emphasizing the importance of diversification and maintaining realistic expectations for future market performance.
- Ilmanen highlights the challenges of relying on traditional asset classes like stocks and bonds in the current investment climate and suggests considering alternative strategies such as trend following and defensive investing to enhance portfolio diversification.
- The episode explores the concept of home country bias, the value-growth spread, and the potential benefits of incorporating systematic strategies into investment portfolios to counteract the headwinds faced by investors in a low expected return environment.
Chapters
| 0:00 | |
| 1:26 | |
| 8:14 | |
| 13:04 | |
| 22:19 | |
| 28:04 | |
| 33:15 | |
| 39:36 | |
| 47:54 | |
| 1:03:04 | |
| 1:07:56 |
Transcript
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