Survey maps 50 years of quant equity investing, from portfolio theory to multi-agent AI
PtrPomorski · x · 2026-11-04
A recommended survey, "The Evolution of Quantitative Equity Investing," frames quant investing's history as changing constraints rather than ever-more-complex forecasting models.
The accompanying timeline covers: portfolio theory (1960s–80s), value (1980s–90s), momentum (1990s), quality and low-risk (2000s), alternative data (2010s), machine learning (2015–2025), LLMs unlocking unstructured text as a systematic signal (2022–2026), and multi-agent AI orchestrating research, critique, risk and execution (2024 onward).
Core transition: from estimating expected returns to engineering implementable, adaptive investment systems.
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