"Behind the Speculative 'Starvation Tactics'"
"The 'Dark Forest' of A-share Ecology"
"The 'Surrender-style Protest' of Speculative Funds"
In March 2025, data from the Dragon and Tiger list showed that the trading volume of the top 50 speculative funds in a single day was only 1.2 billion, hitting a three-year low. There is a saying circulating in the industry: "To make money, one must first starve the quant", which essentially points to the extinction crisis of traditional trading models:
Ineffectiveness of the Continuous Board Strategy: The premium icon for stocks that have been locked limit-up, with quantitative participation, has dropped from 7.2% in 2020 to -1.3% in 2024, while the success rate of board traders has fallen below 30%.
Ineffectiveness of Theme Exploration: New themes ignited by speculative funds are covered by quant in under a second, compressing the premium space to below 2%.
