I think the timescales thing you mention is important when interpreting articles like this. The only quant strategies that are sucking are the long horizon, sca

I think the timescales thing you mention is important when interpreting articles like this. The only quant strategies that are sucking are the long horizon, scalable ones available to public funding, which get articles written about them. Shorter term prop quant strategies are making an absolute killing, as they usually do in elevated vol. VIRT's 10Q gives an indication of this, even though they're not quant heavy but still fit into this general category. People think GME is about money flowing from hedge funds to retail, but in reality the biggest winners are the prop and HFT firms as more retail money enters the market.