Cut leeks and cut them to the head of the national team! Since the beginning of this year, there has been a huge loss of 29% of the quantitative private equity Ningbo Lingjun Investment, in order to make money, it is difficult to make a fortune. Here, the national team opened after the holiday and tried to rise, but Lingjun Investment sold a net of 25 within 43 seconds of opening6.7 billion yuan, resulting in a rapid decline, can be seen clearly on the time-sharing chart. The regulator was directly angry, pulled out its network cable, and suspended trading for 3 days.
Answer three questions today: 1. What is quantitative investing? 2. How profitable is quantitative investment? 3. Why is quantitative investment shouted and beaten by everyone?
1. Quantitative investment is no longer relying on manual stock selection and trading, directly looking for the law of ups and downs, setting a program to screen, and setting a program to automatically sell and sell. It has two outstanding features: First, the number of ** bought is large. Generally, a single public offering will buy dozens of them, and there are very few more than 100, and quantitative private placements will buy hundreds or thousands. Second, the frequency of transactions is high. Public offerings generally say that they advocate value investment and long-term investment, but quantitative private placements are quick fixes, and they even have a lot of high-frequency trading, and they achieve T+0 on the day through securities lending. These two reasons determine that quantitative private placement can only be a programmatic operation.
2. Quantitative investment is of course very profitable. You think, Lingjun is just a quantitative private placement, and it can sell 2.5 billion yuan in a single day, which is scary, indicating that there are many people who buy this kind of product, in fact, the total scale of Lingjun's investment exceeds 60 billion yuan.
The performance of quantitative investment is indeed bullish. Judging from the performance of the past three years, in 2023, the CSI will be 300**11%, but the average performance of tens of billions of quantitative private placements will be 65%。In 2022, the CSI 300 Index will be **22%, but the average performance of 10 billion quantitative private placements will be -133%, the decline is very manageable. Further back, the CSI 300 Index in 2021 is **52%, the average performance of tens of billions of quantitative private placements is as high as 1932%。
So, quantitative private equity is invincible? No, because quantitative private placement is essentially looking for the law of ups and downs, if the market style suddenly changes, the drawdown will be great.
For example, when the egg is broken, 2 is the main card, you 4 2s are very good, but play 3, 2 is not the main card, you 4 2s are very average. In January this year, the market style suddenly changed, which is equivalent to changing the main card, many small-cap stocks are not working, and many quantitative private placements fell by more than -30% in January. This has happened in history.
Of course, the money is not less. Because it is a private placement**, in addition to charging 1% management fee, there is also a 20% performance commission. At present, there are 32 quantitative private placements of 10 billion yuan, of which the scale of the four quantitative kings exceeds 60 billion yuan. Suppose a quantitative institution has a scale of 60 billion yuan and earns 10% for users, that is 6 billion, of which 20% is for quantitative private placement, that is, it earns 1.2 billion yuan.
This is only one year's earnings, and this net profit level exceeds that of more than 4,700 A-share listed companies in A-shares, that is, more than 90% of listed companies. So there was a quantitative private placement High-Flyer, and one of its employees donated 13.8 billion yuan. This is just an employee, which shows how profitable this quantitative private placement is.
3. Although quantitative investment is very profitable, it is cool for quantitative investors and quantitative private placement, but the suffering is the majority of leeks, including institutions, which are also unbearable.
It's easy to understand the bitter leeks, because these quantitative private placements mainly rely on cutting leeks to make money, and they will even go to the stock bar to read messages and study market sentiment and psychology.
Why are institutions so bothered? Because these quantitative private placements are also focusing on institutions, for example, there are many indexes in public offerings, and the scale is quite large. The index will regularly transfer in some new **, which is all public data, and the quantitative private placement will be ambushed in advance, and when the index **one-time** pulls up the stock price, it will be poured in**.
Not only that, some of the heavy stocks of the public offering will also be targeted by the quantitative private placement, such as a little bit of wind and grass, the quantitative private placement takes the lead in smashing the market, and the public offering is annoyed to death.
Overall, quantitative private placements play a role in helping the ups and downs, because they are high-frequency trend traders. So last year, there were a lot of ** A-shaped trends, and the last section of the fast ** is the quantitative private placement boost, once the momentum of the volume can not work, it will take the lead in smashing the market quickly**.
This kind of boosting the rise and falling is the opposite of our regulator's hope to keep the market stable. And quantitative private equity is also not long-sighted, our A shares have fallen so much, the national team is desperately trying to save the market and reverse the trend, and here we are still thinking about making money to cut the national team's leeks. You see, in the internal report of Lingjun Investment, it is publicly regarded cutting the national team's leeks as a strategy. Therefore, it is very normal for quantitative private placement to be rectified, and no one will sympathize.
By the way, some experts have suggested that A-shares should implement T+0, and in my opinion, don't do that at this stage. Quantitative private placement fees are used through securities lending and other means, which is for T+0. Now that securities lending has finally stopped, don't you make a T+0 to send a combine harvester to quantitative private placement? By then, all the bones will be gone.
To be honest, the trend of A-shares has been so bad in recent years, and there is the world's largest IPO financing, isn't it because there are many people who take over? After cutting all the leeks, how can you finance blood transfusion to the real economy? **Large number is the core advantage of A-shares, which must be cared for and cared for.
Pay attention to Brother Da Lin and take you to know the truth of finance.
February** Dynamic Incentive Program