In recent ten years, quantitative investment has become the hot spot and focus of the development of European and American capital markets, with a rapid development momentum. Since 20 12, various forums, conferences and institutions for quantitative investment and hedge funds have sprung up in China. Among them, China Quantitative Investment Institute was formally established in March 20 12. In just half a year, it has developed from an interest group of more than a dozen people to the largest quantitative investment research group in China, with members all over the country and even branches in North America, Europe, Hongkong and Taiwan Province.

I have a deep understanding of the vigorous development momentum of quantitative investment. 20 1 1 At the end of the year, my book Quantitative Investment-Strategy and Technology was published, and it was out of stock within one month after publication, indicating that the whole market has a great demand for books on quantitative investment. In this case, China Institute of Quantitative Investment put forward the idea of compiling a series of books on quantitative investment and hedge funds, which immediately received enthusiastic response from people in the industry.

Dr. Lu Yangzhou's "The King's World-Legends of the Top Ten Hedge Fund Companies in the World" is one of the "stories" in this series. This book ranks the top ten hedge fund management companies in the world according to the assets under management, describes in detail the historical evolution of each company and its management philosophy at the helm, focuses on the fundamental guidance of company development: investment strategy, and lists investment cases and fund returns using this strategy. In addition, it also introduces the culture, founders and investment team of hedge fund companies, aiming at providing investors with more and more comprehensive information about hedge fund companies, hoping that readers can have a deeper understanding of hedge fund companies through this book.

There have been several books about hedge funds in China, but most of them have introduced the characteristics and main achievements of hedge funds roughly, and few have introduced the investment strategies and ideas of hedge funds in detail. Dr. Lu's book has done a lot of summary work in this respect and is worth reading carefully.

The book introduces bridgewater's absolute alpha strategy, JPMorgan Chase's stock market neutrality strategy, Ozzie-Ziff's reverse investment strategy, BlackRock's alternative investment strategy, Bob Post's bad securities strategy, Paulson Fund's merger and acquisition arbitrage strategy, Anzu Gordon's convertible securities arbitrage strategy, Renaissance technology's high-frequency trading strategy, Elliott's bad bonds strategy and Fallon's event-driven strategy.

From the analysis of these successful hedge fund strategies, readers can learn many mainstream absolute return methods and models in the world and apply them to the domestic market. This book also introduces how some strategies are applied in the domestic market. I believe that with the liberalization of the domestic financial market, there will be more and more financial products in the future, and these foreign strategies will also be widely used in China.

At present, the vast majority of products issued by Sunshine Private Equity in China are veritable hedge funds. China's hedge funds have become an important force in China's financial market. It can be predicted that more and more people in China will directly or indirectly invest their funds in hedge funds in order to obtain absolute alpha returns.

This book also introduces the investment ideas and risk control principles of these hedge funds from different angles. Compared with other similar story books, it adds a lot of practical value, not only story books, but also books that can be used as introductory textbooks.

Many domestic Sunshine private equity products also adopt market neutrality strategy and event arbitrage strategy. Of course, there is still a big gap with foreign hedge funds in the breadth and depth of application. It is the only way for everyone engaged in investment research to learn these advanced investment concepts and strategies, improve their investment ability and create more investment income for customers.

This book is especially suitable for all kinds of investors who are interested in asset management. Through the understanding of overseas hedge funds, we can get great help from our own investment ideas and methods. This is a widely used popular book.

After 30 years of rapid economic development, all walks of life in China have basically taken shape, and the space for young people to grow up is getting smaller and smaller. In the next decade, quantitative investment and hedge funds are one of the few industries that can produce personal heroes. No matter how high or low you come from, no matter what education you have, no matter whether you have experience or not, as long as you study models and markets diligently and down-to-earth, it is not an unreachable dream to develop a trading system suitable for a stable profitable market and realize financial freedom. Therefore, engaging in quantitative investment and hedge funds is not only to achieve financial freedom, but more importantly, the dignity of human nature.

Let's embrace the golden age of quantitative investment and hedge funds in China!

Dr. ding Peng.

Chairman of China Quantitative Investment Society

Senior Quantitative Strategy Analyst of Founder Fubon Fund Company

Author of Quantitative Investment-Strategy and Technology

Deputy editor-in-chief of Quantitative Investment and Hedge Funds

Special guest of CCTV/ CBN

20121February

Beijing Rong Feng International Building