Quantization

A few days ago, someone asked me using the pre-adjusted prices of very early Kweichow Moutai stock. Honestly, I was taken aback at first glance: Looking at the “pre-adjustment” values, Yahoo had no negative numbers, while East Money showed negative numbers. When I later reviewed my article from June, titled Detailed Explanation of ‘Adjustment’ and Data Acquisition in Backtesting, I realized that I had mixed up several things. At the time, I presented the “ratio method” as if it were the single standard, but pre-adjustment in the domestic A-share context and the commonly used adjusted close for Hong Kong/US stocks are fundamentally different metrics.

This article only does one thing: separate these two metrics/standards. I will put my judgment first so that you don’t get confused later: The pre-adjustment (or forward adjustment) of leading domestic apps is more like leveling the candlesticks by following the exchange’s ex-rights/ex-dividend reference price; the commonly used international adjusted close is more like using a cumulative multiplier to express the total return from “reinvesting dividends.” They are both called pre-adjustment, but they answer different questions.

Recently mingling in various programming large model communication circles, the most complained about thing is model degradation.

• Models deployed on local desktop computers are quantized models, essentially downgraded versions.
• With “vibe coding” so popular, could it be that the content output by current large models is the most valuable product – code?

• Still doing nothing, Xiaomi didn’t fall below my current price level. It has fallen consecutively for two days, and was finally stabilized by a buyback. The US market last night was interesting – it started to rally, but the next day it completely crashed. Today, both A-shares and Hong Kong stocks are basically worthless.
• At this point, falling so much is actually good; I didn’t continue following the broader market, just laid down and relaxed, waiting for a better opportunity.

Why the Decline

https://wallstreetcn.com/articles/3759889 Other viewpoints may or may not be correct; quantitative funds are increasingly influencing domestic stock markets. Individual stocks often closely align with index movements. The original text is lengthy, and Bobo (豆包 - a common online nickname) has extracted the core content.