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Smart Money, Crowd Intelligence, and AI

Using human and artificial intelligence to beat the S&P 500

Nicolas Rabener
10 min read
7 Feb 2022

SUMMARY

  • Smart money, crowd intelligence, and AI ETFs have underperformed the S&P 500 since their inception
  • Somewhat surprisingly, all three have almost the same factor exposures
  • Negative exposure to value, and positive exposure to size and momentum factors

INTRODUCTION

Welcome to the qualifying round of the 2022 US Investment Olympics.

The goal of the games is simple: beat the S&P 500, either by generating higher returns or playing dirty and going for higher risk-adjusted returns.

Let the games begin!

QUALIFICATION

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