Your LLM’s alpha might be mere memorization
A new benchmark, Look-Ahead-Bench, shows that LLM-based investment strategies can generate spectacular in-sample alpha that collapses once the test window…
Alternative Data
Why alternative data trials fail
The reality of selling alt data to quant funds Almost every data provider’s pitch includes a chart that looks like…
Why quants pay more for point-in-time data
When quant investors encounter a new dataset, one of the first questions they ask is whether the data is “point-in-time”…
Why good data is hard to find
Information asymmetry and data The data market is characterized by a significant information asymmetry between data producers and consumers. Data…