Cliff Asness, co-founder of AQR Capital Management, believes that value stocks are still far more attractive than their growth counterparts, even after a major market correction. “We stick with it [value] because we always like some value in the portfolio. And we like it even more when it looks very, very cheap,” Asness said on CNBC’s “Closing Bell.” ; It’s associated with the tech bubble. I still think the relative price is at insane levels. “AQR is having a stellar year even as the broader market gets squashed amid recession fears and rising interest rates. Asness said his pure trending portfolio is way ahead 50% this year, while his pure value portfolio is growing in the forties. The S&P 500 index is down more than 20% in 2022 so far, entering the market Value stocks fell out of favor even before the pandemic as investors turned to innovating tech names.Asness said he’s stuck with his investment strategy. his disciplined value and it finally paid off. “What happened was a two-year bear market for value, and then a pandemic that the whole world decided. .. would be disastrous for value fundamentals. So that has brought this disparity between cheap and expensive only up to the stratosphere – well past the tech bubble,” said Asness. We upgraded what we did a bit, mostly just stuck with it when… a lot of people didn’t want us to come. And not just this year, but last year has been rewarded for that as well. “Asness says AQR looks for low-cost companies with profitability, low risk, and momentum, including some tech names that are often seen as growth stocks.” Both Meta and Amazon. generally liked by our process now. They are cheap compared to their peers. Again, we compare industries. Asness says they’re not always perfect. had it during the whole meme stock craze. It’s super expensive, super unprofitable, and beta is super high and volatile. “He said Virgin Galactic is another name he doesn’t find appealing right now. The space company’s stock has fallen more than 50% this year. Correction: An earlier version of the false story about Cliff Asness’s view on Virgin Galactic.