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Wall Street Keeps Testing AI Traders, But Most Are Still Underperforming
Wall Street Keeps Testing AI Traders, But Most Are Still Underperforming
Recent trading competitions suggest large language models are still unreliable portfolio managers, according to Bloomberg.
Tests involving models from OpenAI, Anthropic, Google, and xAI have often delivered underwhelming results: many lost money, traded excessively, and made erratic decisions despite receiving identical prompts. In several cases, models appeared unable to stick to coherent strategies for more than a few trading sessions.
Bloomberg writes that one of the clearest examples came from Alpha Arena, a competition created by startup Nof1. Eight models were...
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Apr 8, 2026 / Tyler Durden
S&P Slashes New Orleans' Credit Rating On "Structurally Imbalanced Operations"
S&P Slashes New Orleans' Credit Rating On "Structurally Imbalanced Operations"
New Orleans, home to Mardi Gras and muffulettas, has been governed by Democrats for decades, so it should come as little surprise that S&P Global Ratings has slashed the city's obligation rating to the third-lowest level of investment grade and placed it on a negative outlook.
S&P Global Ratings cut New Orleans' general obligation rating by one notch to BBB+ with a negative outlook, citing structurally imbalanced finances, shrinking reserves, and growing reliance on one-time desperate measures to meet cash needs.
"The...
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Apr 23, 2026 / Tyler Durden
RFK Jr. Tells Senate Glyphosate Causes Cancer
RFK Jr. Tells Senate Glyphosate Causes Cancer
Authored by Troy Myers via The Epoch Times,
Health and Human Services Secretary Robert F. Kennedy Jr. told senators on April 21 that glyphosate, a key ingredient in herbicides like Roundup, causes cancer and that human consumption of the chemical should be minimized.
His comments came amid growing political and legal controversy over the chemical, which is widely used in agriculture. During a Senate Budget Committee hearing, Sen. Brian Schatz (D-Hawaii) asked Kennedy whether the chemical caused cancer.
Without hesitation, Kennedy replied, “Yes.” Schatz also asked...
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Apr 14, 2026 / Tyler Durden
Fed Chair Nominee Kevin Warsh Reveals Assets Worth Over $190 Million
Fed Chair Nominee Kevin Warsh Reveals Assets Worth Over $190 Million
Trump's nominee for next Fed Chair, Kevin Warsh, disclosed assets with his wife, heiress Jane Lauder, that total at least $192 million, though - according to Bloomberg - "the actual figure for their holdings is certainly much higher", underscoring the extent of his close ties to Wall Street through personal investments and advisory positions. Warsh, who was chosen in January by President Donald Trump to succeed Jay Powell, received more than $13 million in consulting fees last year, including $10.2...
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