Asness: Market Expensive, Not a Bubble

Asness: Market Expensive, Not a Bubble

Update: 2025-11-10
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Financial experts, including AQR Capital Managements Cliff Asness, discuss the U.S. stock markets current state, suggesting its expensive but not a full-blown bubble. Asness highlights AQRs successful Apex fund, returning 15.6% in Q3 2025, driven by strategic stock picks and market trend models. While Asness has only called out two bubbles in his career, he warns high valuations could lead to a disappointing decade for investors, implying slower growth or lower returns, rather than an immediate crash.

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Asness: Market Expensive, Not a Bubble

Asness: Market Expensive, Not a Bubble