Intelligent Alpha’s investment committee is composed of three AIs and the fund's CEO tries to stay out of their way.
While the firm has focused on traditional finance so far and mostly kept away from crypto, Clinton said he started experimenting with bitcoin specifically in the last five months. The objective: for AI to set useful targets to trade the world’s top cryptocurrency. The next step is to give a philosophical framework for the AIs to use. Clinton asks the AIs to step into the shoes of some of the most famous investors in the world — Warren Buffett, Stanley Druckenmiller, Cathie Wood — and apply their way of thinking to the portfolio at hand.
The process involves the three AIs explaining their reasoning to Clinton. Not only does it help him ascertain that the investments are aligned with the portfolio’s goals, but he says that models provide better portfolios when they’re forced to explain why they like specific stocks. Having competing philosophies means the portfolio usually ends up being quite balanced. “In many cases they're looking at idiosyncratic opportunities,” Clinton said. “We haven't seen big issues where are at odds, but even then, it would be like hedging.” The AIs themselves make the decisions on how to weigh the various philosophies found in the portfolio, depending on the areas they’re the most confident in.
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