To a nerd of a generalist science+engineering variety who occasionally short-sells individual stocks, this analysis feels heartening. Consider: > quants often

To a nerd of a generalist science+engineering variety who occasionally short-sells individual stocks, this analysis feels heartening. Consider: > quants often rely on measures of valuation, volatility, or momentum to guide their process, based on the historical success of these metrics in predicting returns, and in nearly every case following the numbers led investors astray in 2020, starting with perhaps the most time-tested of financial strategies, value investing. So, there are volume holders who did not even consider selling when the Diamond Princess news began to trickle out. Or a few years back, stayed in VW even as technical details of the crude engine controller gaming emerged, making it plain to any hacker how very culpable the company was.