Let me talk about an area, such as futures CTA. After we have a firm strategic offer, there is basically not much daily work. You can study commodity arbitrage, hedging, intraday trading, etc. After thorough commodity research, we can study stock alpha, intraday stock rotation, stock index enhancement and so on. When the stock is mature, you can study the option strategy. When the option research is thorough, you can study the bond.

As an alternative branch of the field of quantitative trading-the field of macro-quantitative investment and research, what kind of accomplishment does a macro-quantitative strategy researcher need to continue on this arduous road full of infinite achievements? As a scientific researcher who initially decided to become a physicist, my professional experience can at least give a kind hint to young people who have just entered or are about to enter the field of macro-quantitative investment and research-if they want to develop in the field of macro-quantitative investment and research.

Macro-quantitative research pays more attention to strict derivation and accurate data verification, and there are many bold theoretical assumptions. In this field, we have always respected the spirit of AQR in-depth research. In the field of fundamentals and market research, AQR has always maintained its own independent exploration ideas and strict theoretical verification.

relevant information

Most of the initial macro research and economic research started from the cycle research. In the final analysis, all economic cycles are fundamentally human life cycles. Because of the finiteness of human life, basically a complete economic cycle is measured by a multiple of 10, or from a broader perspective, the century-long scientific and technological cycle of human beings is also the ultimate embodiment of the life cycle to some extent.

Every rise of science and technology cycle is based on the birth and end of life of a master of science as the final time standard. So in the final analysis, both scientific research and economic research are ultimately influenced by human life cycle. So until now, macro research and even market research are inseparable from traditional chart analysis.

From these industries and even economic charts, countless researchers with econometric background have studied the relationship between the fluctuation of these economic data and market fluctuation, and everyone is trying to find the key to open the market, whether it is qualitative or semi-quantitative analysis plus subjective recursion.