財富管理

Quants fail to live up to expectations
量化基金風光不再


近來,量化基金一直舉步維艱,因爲在此次信貸危機期間乃至之後,此類基金的表現大體上未能讓投資者感到滿意。

At the beginning of the twentieth century, Scott’s Porage Oats were marketed as being produced entirely through an automated process: “untouched by human hand”. Towards the end of the century, a new variety of asset management could lay claim to such a slogan – “quants” or quantitative managers fed mathematical models of financial markets into computers, which were then supposed to select stocks with none of the biases and fallibility of human stock selectors.

20世紀初,史考特(Scott)的Porage Oats 宣揚自己完全通過自動化程式生成:「未經人手觸及」。而20世紀末,一種新型資產管理方式堪稱符合上述口號——量化基金(quants),或者說量化基金經理將金融市場的數學模型應用於電腦,當時人們認爲,這是在不帶有人爲選股者的偏見和錯誤的情況下選股。

您已閱讀8%(614字),剩餘92%(6713字)包含更多重要資訊,訂閱以繼續探索完整內容,並享受更多專屬服務。
版權聲明:本文版權歸FT中文網所有,未經允許任何單位或個人不得轉載,複製或以任何其他方式使用本文全部或部分,侵權必究。
設置字型大小×
最小
較小
默認
較大
最大
分享×