Quantitative investment refers to a trading method in which orders for buying and selling are issued through quantitative methods and computer programming in order to obtain stable income. Its overseas development has a history of more than 30 years, its investment performance is stable, its market scale and share are expanding, and it has been recognized by more and more investors.
Judging from the participants in the global market and the scale of assets under management, the top four and the top five of the world's top six asset management institutions all rely on computer technology to make investment decisions, and the scale of funds managed by quantitative and programmatic exchanges continues to expand.
In fact, with the development of the Internet, this new concept has spread rapidly around the world. As a concept, quantitative investment is not new, and domestic investors have heard about it for a long time. However, real quantitative funds are rare in China. At the same time, the development of machine learning has also promoted quantitative investment.
In fact, quantitative investment and traditional qualitative investment are essentially the same, both of which are based on the theory of market inefficiency or weak efficiency. Through the analysis and research on the fundamentals of stock valuation and growth, investment managers establish a combination that outperforms the market and generates excess returns.
The difference is that qualitative investment management depends more on the investigation of listed companies, as well as the personal experience and subjective judgment of fund managers, while quantitative investment management is a "quantitative application of qualitative thinking", with more emphasis on data.