Hedge Fund News From HedgeCo.Net

Hedge Fund Founder and Amazon Researcher Build a Better AI Stock Picker

(Bloomberg) A hedge fund manager and a computer scientist have found a promising new way to use artificial intelligence to pick stocks over longer periods than the typical machine-driven approaches favored by Wall Street. In tests, John Alberg, co-founder of hedge fund firm Euclidean Technologies, and Zachary Lipton, a researcher at Amazon.com Inc.’s AI lab, generated 17.1 percent annualized returns from their technique, compared with 14.4 percent using a standard statistical model, according to a paper they discussed during a Friday workshop at the Neural Information Processing Systems (NIPS) conference, an annual gathering of experts in the field.

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