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AI is better at picking stocks than the stock market

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The AI Powered Equity, an exchange-traded fund that uses artificial intelligence technology to select the stocks it holds, has emerged as one of the most successful new funds of the year, proving so popular with investors that it has stunned its own (human) creators. "We were absolutely surprised by the degree of interest," said Art Armador, co-founder of EquBot LLC, which sponsored the fund. "We launched with $2.5 million in assets and were hoping to get to $40 million by the end of the year. Instead, we got that within the first week and now we're north of $70 million. The fund's software "constantly" analyzes information for roughly 6,000 US-listed stocks, according to the company, scanning through regulatory filings, news articles, social media posts, and traditional financial metrics -- including factors pertaining to correlations and valuations -- to find investments it perceives as undervalued.


A.I. Has Arrived in Investing. Humans Are Still Dominating.

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Machines are starting to take the place of the people who flip burgers, drive across town and, lately, manage stock portfolios.


The First Ever Fund Managed by a Robot Is Here. So Far It's Beating the Market

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As if professional mutual fund managers didn't have it hard enough. Not only do they have to contend with the growing popularity of low-cost index funds, which simply buy and hold the entire market, but now here comes another threat: robot stock pickers. The San Francisco firm EquBot has launched the first retail ETF to be managed using IBM's Watson supercomputing artificial intelligence technology. The use of computers to buy stocks isn't new. So-called "quant funds" (short for quantitative analysis) have been around for years, relying on computer algorithms to identify short-term trading patterns and opportunities in the market.


The artificial intelligence ETF is one of the most popular fund launches of 2017

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One of the most notable success stories on Wall Street in 2017 isn't exactly a human-interest story. The AI Powered Equity ETF AIEQ, -0.31% an exchange-traded fund that uses artificial intelligence technology to select the stocks it holds, has emerged as one of the most successful new funds of the year, proving so popular with investors that it has stunned its own (human) creators. "We were absolutely surprised by the degree of interest," said Art Amador, co-founder of EquBot LLC, which sponsored the fund. "We launched with $2.5 million in assets and were hoping to get to $40 million by the end of the year. Instead, we got that within the first week and now we're north of $70 million.


The artificial intelligence ETF is one of the most popular fund launches of 2017

#artificialintelligence

One of the most notable success stories on Wall Street in 2017 isn't exactly a human-interest story. The AI Powered Equity ETF AIEQ, -0.31% an exchange-traded fund that uses artificial intelligence technology to select the stocks it holds, has emerged as one of the most successful new funds of the year, proving so popular with investors that it has stunned its own (human) creators. "We were absolutely surprised by the degree of interest," said Art Amador, co-founder of EquBot LLC, which sponsored the fund. "We launched with $2.5 million in assets and were hoping to get to $40 million by the end of the year. Instead, we got that within the first week and now we're north of $70 million.