Why haven't you started using AI to get rich? It's literally free money? Posted on May 14, 2023 by Anonymous Why haven't you started using AI to get rich? It's literally free money?
I need this
link to paper
bump. paper plox
Sounds like bullshit, 3.5 has several years old data.
Doesn't matter if it's just being used to gauge whether an article represents positive or negative sentiment. moron.
Hedge fund have been doing sentiment analysis on news stories for years along with thousands of other signals like e.g looking at satellite images to see how many cars are parked outside of certain stores etc.
Hedge funds have been using shitty models for ages, buying stocks fir millisecond and then selling it to maximize returns. Human investors are vastly inferior, hence why only real human investors are cryptobros and retards who take advice from BOT, Reddit or finance youtubers. Just absolute dregs of society that waste their parents money because they are fucking retarded. This is what human investors have been reduced into. No wonder that more advanced but 2 years late model is able to outperform most humans.
>without transaction costs
Most amateur strategies are even profitable without transaction costs.
Most highly sophisticated strategies aren't even profitable with transaction costs.
So does no one have the link to the fucking paper? Idgaf if it closed access.
because I like doing it by hand
Because the government makes the process of actually cashing out any day trading gains and paying taxes on them an excruciating legal minefield
We need a quant general on here. Jim Simons was merely the owner of Rennaisance Technologies, it didn't take of until Robert Mercer (a computer scientist) became involved. We can all become rich with code instead we're name calling each other Rusttrannies and Cniles.
>We can all become rich with code instead we're name calling each other Rusttrannies and Cniles.
Someone needs to put those crabgays in their place, and I'm not about to let someone else do it halfheartedly.
If you think you can win money in market with tools that are available to literally everybody with no investment, I have no words.
Lmao if you think x5 is a good performance for a risky strategy that conveniently excludes transaction costs then I know why you are poor.
Ffs. i bought "assets" with 66% transaction fees as a teenager and even that went up by 60000% i kid you not.
Years ago i also bought amd stocks, a much more conventional and conservative investment, and I'm currently up 600% - including transaction fees of course.
This might only be anecdotal evidence at best, but it's at least real and not a sanitized thought experiment that would likely cause you to lose money if you were to execute it in practice.
Especially automated trading or algorithmic market predictions are fields that uneducated novices have no place meddling with if they don't plan on losing their money real fast.
Because all the described approach does is follow public news articles and buying based on that, just using gpt as an aggregator. That is quite frankly a very retarded strategy, but hey it's your money you're gonna lose...
No larp. The truth. I just didn't mention that the volume of my investments was quite low.
15€ and 200€ respectively xD.
The first is worth 1.8k, the other 1.4k right now.
I did made them when i was a student with no regular income.
But it doesn't change the fact that the relative gains are real, something OPs claims aren't.
Hence even if you'd assume I'm borderline retarded, it still stands that i must understand at least the fundamentals regarding investment strategy, which means I'm already better qualified than OP to spout my bs opinions on this mongolian basket weaving forum.
As to the more catchy 60000%, i own(ed) 300(500) breakout cases, each of which was worth 1 cent when i bought them. Now they are worth more than $6. I did however pay 15€, so 3ct per case, meaning 66% were transaction costs.
I have over the years sold 40% of my cases, but still own 300. Each of those 300 cases has seen at least a x600 increase in value, although depending on the currency, currency fluctuations and price fluctuations it might be a bit less or somewhat more. Then there are the difficulties exchanging it to real currency. It is possible but the easiest methods have at least 15% costs, although there are other more complicated but more efficient ways of conversion, which is why it's hard to put an exact number on the actual value. So even though the value is typically higher than 6 bucks for the sake of simplicity i just used it as a easy and realistic surrogate.
As i said before, it's a very unconventional investment, and i made it as a literal teenager. Also the fact that they were worth 1ct makes it a bit easier to achieve those extreme numbers, when factoring in transaction costs (which op doesn't do either) it's only ~20000%...
>I won the lottery so I know how to invest
Lighting doesn't strike the same spot twice, or something like that.
I made decent investments twice, which is a lot better than 0 I'd say. I didn't say I'm the ultimate authority, but it beats OPs bs by a longshot. I did my research, it worked out. OP slaps AI onto one of the most retarded investment strategy known to man and thinks it's free money. One is weird, the other one's extremely retarded.
aren't stocks already controlled by algorithms? trading companies pay top dollar for being located closer to the stock exchange so that they get that sweet 0.000001ms advantage in signal propagation time that is enough for the automated trading bot to sell or buy stock in question