Wealth Bulletin – AQR Capital Management intends to launch a line-up of mutual funds next month that will use a hedge-fund strategy developed in 1989 by founder Clifford Asness as a doctoral student in finance at the University of Chicago, according to a report in The Wall Street Journal.

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Pottstown Mercury – I have seen the future of conservatism and … he is a hedge fund manager.

I refer to hedge fund manager Clifford S. Asness, and I’m only halfway kidding. Or maybe I’m not kidding at all. The fact is, Asness has launched the single most lucid and inspiring counter-attack against the Obama administration’s brazen assault on capitalism as seen in its Chrysler bankruptcy shakedown.

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Tags: bankruptcy, capitalism, chrysler, clifford, conservatism, hedge-fund-manager, mercury, obama

Reuters – Prominent hedge fund manager Clifford Asness has struck back at the Obama administration, saying hedge funds had the right and responsibility to hold out on last week’s Chrysler LLC restructuring deal.

"Managers have a fiduciary obligation to look after their clients’ money as best they can, not to support the President, nor to oppose him, nor otherwise advance their political views," Asness, who oversees about $20 billion at AQR Capital Management, LLC wrote in an undated letter.

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Tags: aqr capital management llc, aqr-capital-management, capital-management-llc, chrysler, clifford, fiduciary obligation, hedge-fund-manager, money, political-views, quot, restructuring, reuters, undated letter