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Quantitative giants, decisive battle against “AI stocks”?

Store computing power with your left hand, grab talent with your right hand

  The AI ​​boom has spread to the investment circle.
  A few days ago, Magic Square Quantification, a top player on the quantitative track, issued an announcement saying that it will concentrate its resources and strength to fully devote itself to the artificial intelligence technology that serves the common interests of all mankind, and explore the essence of AGI (Artificial General Intelligence).
  ”We may be standing on the eve of the greatest change of this era. 70 years after the emergence of artificial intelligence, amazing wisdom has emerged for the first time, and the door to a new era has opened.” Magic Square said quantitatively.
  This means that magic square quantization will be All in AI.
  So, what is the meaning behind Magic Square’s quantitative bet on AI? Hunting AI talents, quantitative giants fight? Why are A-share investors complaining about this?
  AI is the background of quantification.
  The so-called quantification is to digitize the signals in investment behavior, analyze them through one or more sets of algorithms, and make judgments and decisions, rather than relying solely on human feelings or intuition.
  It can be seen from the above that the strength of AI capabilities determines the level of quantification.
  According to public information, at the end of 2017, almost all strategies of Magic Square Quantification have been calculated using AI models; in January 2021, Magic Square Quantification’s “Yinghuo No. 2” AI cluster was officially put into use, with 1.35 million tasks running throughout the year , a total of 56.74 million GPU hours.
  From this point of view, it is reasonable for Magic Square to quantify All in AI.
  Liu Jiang, manager of Great Wall Jiuxiang Fund, believes: “In the long run, artificial intelligence may drive great changes in the technology industry. First, computing power, which directly drives demand, is expected to fully benefit; second, it may have a major impact on the ecology of many directions, such as Midstream platforms and downstream applications are expected to breed new investment opportunities.”
  It should be noted that it has become the consensus of the quantitative industry to seize the AI ​​highland.
  In this context, the quantitative giants are staking their fortunes one after another, even fighting tit-for-tat for AI talents.
  For example, Jiukun Investment launched the “Sycamore Plan” to recruit outstanding undergraduate, master, and doctoral graduates from all over the world, and select “quantitative new stars” who can be independent.
  For another example, Mingshi Fund has launched the “Arbor Plan”, which aims to cultivate quantitative talents for graduates of top universities, and combines Mingshi’s investment research system and business model to create a job-specific growth plan for the “strongest brain”.
  Zhang Chenying, investment director of Egret Asset Management, said in an interview with “Undercurrent Waves”: “The current quantitative private equity in China has a large number of international Olympiads IMO (mathematics competition), IPHO (physics competition), ICHO (chemistry competition) and IOI ( Informatics competition) medal winners have long been the industry standard.”
  In a word, quantification has become an important scene for AI to be implemented.
The inherent shortcomings of quantification, AI is still difficult to make up

  Despite this, the market has mixed opinions on quantitative overweight AI. One voice believes that “cutting leeks” is more agile.
  With the power of AI, quantification has made a lot of money and has become an important force in the capital market.
  According to data from the private equity ranking network, the cumulative rate of return of Magic Square Quantification since its establishment is 181.63%, and the annualized rate of return is 18.02%; the cumulative rate of return of Jiuzhang Assets since its establishment is 148.28%, and the annualized rate of return is 12.89% %.
  Therefore, quantitative strategy products have become the main force of private equity fund issuance recently, and they are very popular.
  In this regard, investors are quite dissatisfied.
  A Xueqiu big V “Shan Nian Zhai” said: “Quantification is essentially a zero-sum game. What I earn is your loss; what you earn is my loss.” In short, the more quantitative AI
  capabilities Stronger, “cutting leeks” will naturally be more agile.
  ”Using quantitative technology to ‘cut leeks’ in the stock market serves the common interests of all mankind?” ”
  A quantitative company can speak so loftily of itself that it neither respects the public nor its customers.” ”
  Crazy ambition, crazy and sincere Play tricks.”
  Another voice believes that quantification cannot “lie down and win” for a long time.
  Even with the blessing of AI, quantification cannot make up for the inherent shortcomings, and most products cannot escape the fate of “big and small years”.
  An industry insider told Computer News: “The core of quantification is high frequency, and the pursuit is to maximize selling high and buying low. This can be like a fish in water in a volatile market, but not necessarily in a unilateral market.” In addition,
  although Algorithms are different, but the problem of homogenization operation also exists.
  Yuan Yuwei, a fund manager engaged in macro research, said: “Regardless of manual trading or quantitative investment, as long as a trend is formed, it will converge to the transaction.” It is not difficult to see that quantification cannot “lie down and win” for a long time.
  Lu Zhengzhe, CEO of Magic Square Quantitative, once said frankly: “Rapid rise, rapid expansion of scale, and rapid decline and disappearance, this seems to be an endless loop of the quantitative industry, like the sword of Damocles hanging over our heads.” All in all, in Magic
  Square Under the leadership of quantification, quantitative investment has undergone new changes. It remains to be seen whether the future will be better under the AI ​​wave.
  The only certainty is that AI stocks still have advantages and disadvantages.

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