Quantitative Equity Investing: Out of Style?

摘要

Is quantitative equity investing out of style? Quantitative investing applies rigorous analysis-the scientific method-to investing. How can that be a bad thing or go out of style? Warren Buffett once commented on being labeled a value manager: "What else is there but value investing, really? Tipster investing? Dream investing? I never understood the alternative."rnBut, to be fair, quantitative investing has come to have a narrower meaning; that is, optimizing portfolios using well-known financial ratios, such as book-to-price or momentum -and, for the past three years, quantitative equity strategies have on average performed poorly.