Financial titans Taleb and Asness fight on Twitter
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There is nothing like a very public fight between two titans of the financial world.
In one corner, the author of “Black Swan”, Nassim Nicholas Taleb; in the other, Cliff Asness, founder of AQR Capital Management. The two went to Twitter using non-printable words to find out if it’s worth the cost of insurance against extreme events, or what’s called tail risk coverage.
Taleb criticized the performance of AQR, which recognizes Asness but says it is because of the stock market’s current punishment for value.
The coronavirus pandemic has proven to be an excellent time to cover tail risk: the CBOE Eurekahedge Tail Risk Volatility Hedge Fund index returned 51.47% until the end of April.
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Here is an abridged version of the debate.
The rest of Twitter Twitter just took out the popcorn and enjoyed it.