ChatGPT helped a simulated study return up to 512% trading stocks based on news. Here's the prompt the researchers used — plus the positive and negative takeaways from their findings. | With no access to crypto, disgraced FTX founder Sam Bankman-Fried is now trading fish to pay for services in prison | What happens to Gaza after the war? | Is Japan’s economy at a turning point?

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� � � � � � You Might Like � � � � � � � � � ChatGPT helped a simulated study return up to 512% trading stocks based on news. Here's the prompt the researchers used — plus the positive and negative takeaways from their findings. - Business Insider    Investor excitement about artificial intelligence has lifted the S&P 500 by 18% this year, and mega-cap stocks with exposure to the technology made up most of the index's gains.   Alongside the excitement, there's curiosity about how AI can be further embedded into investing. For example, as the large language models (LLM) that underlie services like ChatGPT improve, can they mimic human reasoning so well that they one day replace stock pickers?  The University of Florida's Department of Finance thought it would be interesting to see if these models could understand financial markets even though they weren't trained in them. They did this by asking ChatGPT whether a piece of news was good or bad for a stock's price, and then running a simulation that would buy or short a stock depending on whether it considered the information positive or negative. Continued here With no access to crypto, disgraced FTX founder Sam Bankman-Fried is now trading fish to pay for services in prison - Business Insider    It didn't take long for former crypto-billionaire Sam Bankman-Fried to learn the economic system of New York's Metropolitan Detention Center. The disgraced founder of crypto exchange FTX has reportedly been keeping busy by swapping food items in exchange for services as he awaits sentencing on seven felony counts that include wire fraud and conspiracy to commit money laundering. We now know that the new polished haircut he has been seen with in New York courtrooms is thanks to an inmate. On Thursday, the Wall Street Journal reported that SBF paid for a haircut with packaged mackerel, a type of pelagic fish that is a choice of currency among inmates. Continued here Don't like ads? Go ad-free with TradeBriefs Premium What happens to Gaza after the war? - The Economist    THE SMILES were forced, the bonhomie fake. In recent years the Manama Dialogue, an annual security pow-wow in Bahrain, has been focused on the threat from Iran and its regional proxies. Arab and Western officials found much to agree on. “It was just necessary to blame Iran to [be] applauded,” said Josep Borrell, the European Union’s foreign-policy chief, on a panel at the start of this year’s dialogue. “Today it is going to be a little bit more difficult.” Indeed it was. The room listened politely while Brett McGurk, President Joe Biden’s Middle East adviser, offered his country’s view of Israel’s war in Gaza, now in its seventh week. But the coffee-break chatter that followed was scathing. More than once Mr McGurk said that Gaza would receive a “massive surge of humanitarian relief” only once Hamas, a Palestinian militant group, released the roughly 240 Israeli and foreign hostages it abducted on October 7th. The humanitarian crisis afflicting Gaza’s 2.2m people is stark. Food, clean water and medicine are scarce and patients are dying in hospitals that have run out of fuel. The southern half of the enclave is bursting at the seams, swollen to twice its pre-war population after an influx of displaced Palestinians, while the north is probably uninhabitable for years. Continued here Is Japan's economy at a turning point? - The Economist    Aoki Masahiko, a prominent Japanese economist, once predicted it would take 30 years for his country’s economy to emerge from the “lost decades” that began in the early 1990s. At that time, an asset bubble burst and the sun set on the model that had helped Japan grow rapidly. Though the country remained rich, it slid into deflation and its growth rate slowed. Aoki reckoned generational change would be necessary for a new model to coalesce. He started the clock at the moment the bubble had definitively burst and the long-time ruling party, the Liberal Democratic Party, first lost power: the year of 1993. Fast forward to 2023 and Aoki’s words ring prophetic. The world’s third-largest economy is awakening from its decades-long torpor. After years of deflation or low inflation, Japan is seeing its fastest price growth in more than 30 years. Wages, long stagnant, are rising faster than at any time since the 1990s. Both increases are driven largely by global supply shocks. But they are not the only changes afoot. As Aoki predicted, gradual institutional and generational shifts are bearing fruit and changing Japan Inc from within. This confluence of external shocks and internal evolution represents a chance for Japan to change its economic trajectory. The country’s share of global GDP in PPP terms has fallen from 9% in 1990 to under 4% today; its GDP per person in PPP terms slid from 81% of America’s level to 64% over the same period (see chart). Goldman Sachs, a bank, projects that Japan will drop out of the top five economies by 2050 and out of the top ten by 2075. A shrinking population limits the upsides to its growth. Even so, if Japan can reset inflation expectations, boost productivity and unleash corporate dynamism, its fall from the top league could perhaps be halted. Continued here

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