Lockmakers arguably depended on pickers and thieves to keep them in business.
—
Shayla Love,
New Yorker,
10 Oct. 2026
China’s long-only quant funds, whose boom Bloomberg tied to their rapid adoption of AI, beat human stock pickers by 20 percentage points in 2025, saw their edge over the index halve by April, and then lost an average 17% in July.
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