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" ... Actively managed hedge funds beat quant funds in 2020. Quant funds have dominated actively managed funds for years, but human stock pickers won the year in 2020, driven by tech stocks preferences and a flood of stimulus money from central banks. ... "
" ... Such factors are, indeed, very much real. But if one merely demonstrates that they are real without understanding WHY they are real, well, that’ not real quant. That’s merely evidence in support of the proposition that it can be better to be lucky than good. ... "