The Impact of ChatGPT on Investing with Alejandro Lopez-Lira
Excess Returns
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The Implications of Arbitrage Pricing Theory for Investment Finance
The systematic variation is not priced and you can have for folios with very high sub ratios because they can't resist the market now. Most of the returns of anomaly portfolios are related to the fact that earnings expectations are biased so what we do in the paper is we say like well you know what machine learning is very good at forecast of earnings but humans make more errors except days that were the annulus for concentrated. What why is their predictability uh it's an open question i have a different paper that was already publishedUh members much in learning where we show that most of the returns of anomaly portfolios arerelated to the factthat um the earnings expectations are bias.
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