How to beat the market: Go ask a robot

New York (CNN Business)The machines are officially winning. Investors who've relied on a standard 60/40 portfolio this year have taken a bath as stocks and bonds have tumbled. Even gold, the go-to safe haven in volatile times, is underperforming. But for a small subset of specialized hedge funds known as quants, the chaos of 2022 has unleashed a windfall. While the S&P 500 is down more than 13% this year, quant hedge funds -- which rely on complex mathematical models to make investing decisions -- are up more than 15%, according to HFR, a hedge fund research group.