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Alternative Market Briefing

Hedge fund manager Cliff Asness says global warming will not be a threat for next 500 years

Thursday, March 12, 2015

Komfie Manalo, Opalesque Asia:

Connecticut-based Cliff Asness, one of the most successful hedge fund managers, has dismissed the threat of global warming as he downplayed warnings by scientists that the world’s temperature is rising at an alarming rate. According to Asness, while the global temperature is indeed rising, it would take another 500 years before it poses a real problem.

Asness, founder of the $100bn AQR Capital, one of the largest hedge fund companies in the world, presented his findings in a research paper he co-authored with Aaron Brown, risk manager at AQR. The paper concluded that climate change is not a serious problem as the scientific community wants us to believe, reported Fortune.

However, Asness clarified that his research is still "very preliminary" and has asked journalists not to quote directly from it.

His research focused on analyzing the Earth’s surface temperature from the 1880s. He and Brown noted that the rise in the temperature was not as fast as many scientists have claimed. The authors of the paper said they were not denying that climate change is indeed happening, but added that their research wants to offer a different perspective by looking at available data.

Asness said that there might be some explanation over the declining Arctic sea and the rising sea levels and added these might be the result of a mild increase in the globe’s tempe......................

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