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AQR Cuts 60/40 Forecast Again and Warns of ‘Unpalatable Choices’

  • Quant giant publishes annual capital markets assumptions
  • Firm recommends using leverage plus defensive stock tilt
Cliff Asness

Cliff Asness

Photographer: Chris Goodney/Bloomberg

AQR Capital Management is taking the ax to return projections for markets around the globe -- yet again -- while touting fresh strategies from commodities to leverage to salvage investment performance.

The quantitative manager co-founded by Cliff Asness is back with its annual capital-markets outlook, cutting expectations for asset gains in everything from U.S. equities, Treasuries and credit to developed-market stocks and global 60/40 portfolios.