- published: 09 Apr 2015
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Camille Anna Paglia (English pronunciation: /ˈpɑːliə/), (born April 2, 1947) is an American author, teacher, and social critic. Paglia, a self-described dissident feminist, has been a Professor at The University of the Arts in Philadelphia, Pennsylvania since 1984. She is the author of the best-selling 1990 work of literary criticism Sexual Personae: Art and Decadence from Nefertiti to Emily Dickinson, and four other books, including essay collections, a study of Alfred Hitchcock's The Birds, and Break, Blow, Burn on poetry. She writes articles on art, popular culture, feminism, and politics for mainstream newspapers and magazines. Paglia has celebrated Madonna and taken radical libertarian positions on controversial social issues such as abortion, homosexuality and drug use. She is known as a critic of American feminism, and is also strongly critical of the influence of French writers such as Jacques Lacan, Jacques Derrida, and Michel Foucault.
Clifford Scott 'Cliff' Asness (born October 17, 1966) is the cofounder of AQR capital (top US hedge Fund) and a quantitative financial theorist.
After graduating with dual degrees from the University of Pennsylvania, Cliff Asness entered the finance PhD program at the University of Chicago and became the research assistant to Eugene Fama, the influential efficient market theorist and empiricist. Asness' dissertation, however, showed that consistent market-beating profits were attainable by exploiting value and momentum. In this context, value means using fundamental analysis to assess the true worth of a security and momentum means betting that it will continue to go up or down as it has in the recent past. Neither idea is original with Asness, but he was the first to compile enough empirical evidence across a wide variety of markets to bring the ideas into the academic financial mainstream. The two ideas are supposed to work together. Value investors make money, but may have to wait a very long time for it, with a lot of mark-to-market pain along the way. Momentum investors also make money, but can suffer huge drawdowns when bubbles pop. Buying cheap things after they have already started going up, and selling expensive things after they have already started going down, can be the best of both worlds. However, the strategy for accumulation is subject to the same constraints as any other and systemic effects in markets can invalidate it: AQR and other similar ventures lost massive amounts of wealth in the Financial crisis of 2007-2010.