News Snapshot:
View photos (Bloomberg) — A Chinese quant-trading firm made 108% this year by selling every stock bought the previous day. Zhang Ruiqi, the 34-year-old chairman of Shenzhen Qianhai United Fortune Fund Management Co., screens about a dozen mainland-listed stocks every day for their turnover, momentum and volatility. He then does it all over again the following day. That strategy, which he calls the “all-in-all-out†method, helped his flagship $5 million fund gain 108% this year through June, according to data provider Simuwang.com. Rather than pick stocks based on their earnings prospects or dividends, quantitative stock funds typically rely on complex...
