Cliff is the Managing and Founding principal at AQR. Prior to co-founding AQR Capital Management, Cliff was at Goldman, Sachs & Co. where he was a Managing Director and Director of Quantitative Research for the Asset Management Division. He left when Goldman was still a partnership and a completely charitable institution. Cliff has authored articles on many financial topics including multiple publications in the Journal of Portfolio Management and the Financial Analysts Journal. He has received the best paper award from the Journal of Portfolio Management twice (2001, 2003). From the Financial Analysts Journal he has twice received the Graham and Dodd Award for the year’s best paper (2003, 2011), a Graham and Dodd Excellence Award (2000), the award for the best perspectives piece (2004), and the Graham & Dodd Readers’ Choice Award (2005). In addition, the CFA Institute has awarded Cliff the James R. Vertin Award which is periodically given to individuals who have produced a body of research notable for its relevance and enduring value to investment professionals. He is on the editorial board of the Journal of Portfolio Management, the governing board of the Courant Institute of Mathematical Finance at NYU, the Board of Directors of the Q-Group, the Board of the International Rescue Committee, and is a trustee of the American Enterprise Institute and the Manhattan Institute. Cliff received a BS in Economics from the Wharton School and a BS in Engineering from the Moore School of Electrical Engineering, both graduating summa cum laude at the University of Pennsylvania. He received an MBA with high honors and a Ph.D. in Finance from the University of Chicago where he was Eugene Fama’s student and teaching assistant for two years (so he still feels guilty when trying to beat the market).

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