AI-Powered Hedge Fund's Wallace Supercomputer Tries Beating Markets Through Evolving Trading Strategies
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Castle Ridge Asset Management is an AI-driven hedge fund using a supercomputer called Wallace to try to beat financial markets
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Wallace uses evolutionary processes to continually refine and test virtual portfolio managers to see which perform best
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Since 2017, Castle Ridge has generated 12.4% annualized returns compared to the S&P 500's 12.1%
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Wallace tries to anticipate how traders react to news events rather than predict market fundamentals
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Castle Ridge staff "break" Wallace by feeding it new data like satellite images to improve its abilities