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Alphabets sales under microscope after last quarters debacle

QE-versus-recession battle will seal stocks fate, top CIO says

Martello is more than just a T-shirt Bruce Linton wore: CEO

TSX rises with industrials, IT leading the way; U.S. markets mixed

Caisse ignored my call for SNC activist run: Portfolio manager

Carl Icahn slams Occidental, says Buffett took CEO to the cleaners

BC Partners buys $5.2B majority stake in Montreal security firm GardaWorld

As Libra fallout continues, bitcoin finds support in technicals

Bob Dylan, Adeles music rights to back planned US$560M bond

Trading frenzy grips Chinas new stock venue after big IPO gains

Pattie Lovett-Reid: Want to get out of debt? It may be time for a little tough love

This summer job helped spark Michele Romanows career as a serial entrepreneur

The old rules for building wealth are obsolete

Pattie Lovett-Reid: Feeling house poor? Dont panic

Personal Investor: Im retiring at 55 heres how I did it

Divorce is destroying the finances of Americans over 50

Pattie Lovett-Reid: How to know when youve gone from frugal to cheap

Searching for summer travel deals? Be flexible

Personal Investor: New TFSA limit to take an inflation leap

Canadian housing gets boring with sales little changed

Seeds to startups: How summer tree planting helped Bruce Croxon blaze a trail in tech

Stubborn B.C., Alberta homeowners unwilling to sell real estate: Royal LePage

How wealthy singles can protect their riches from partners looking for a payout

Pattie Lovett-Reid: Are vacation properties a smart investment for millennials?

Pattie Lovett-Reid: Canadians are carrying less cash

Inequality highlighted as 10% of U.S. workers get half of all pay

Pattie Lovett-Reid: Dont let emotion sabotage your investment decisions

Ontarios new Grade 10 careers curriculum to stress financial literacy

Trans Mountain expansion gets second green light from Ottawa

Bank of Canada lowers qualifying rate used in mortgage stress tests

Apple plans to open office in Westbanks glitzy Vancouver tower

Millennials are flocking to the Pacific Northwest, study finds

Ontario Real Estate Association calls on Ottawa for relaxed mortgage rules

Home ownership elusive for young Canadians who fear going broke

Apple plans to open office in Westbanks glitzy Vancouver tower

Canadian housing gets boring with sales little changed

Rents in most cities are unaffordable for lower-income earners: Study

Brookfield said to explore sale of Atlantis resort in Bahamas

Almost 40% of U.S. homes are free and clear of a mortgage

Toronto set for record apartment surge after rent control lifted

Canadian housing starts surge 25% on coast-to-coast increase

Luxury home sales rise in Toronto, Montreal; fall in Vancouver

Vancouvers benchmark home price falls below $1M for first time since May 2017

Montreals housing market conditions tightest since 2005 as listings plunge

WeWork to lease 10 floors in new Vancouver office development

Toronto housing market heats up in June: Sales jump 10%, listings fall

Genworth shopping stake in Canadian unit amid delay in Chinese takeover review

Billionaires detention rocks his Chinese real estate empire

Toronto condo prices see weakest growth in five years as rules bite

Tesla plunges on loss, co-founders surprise exit from CTO job

Teck Q2 profit below estimates on one-time items, lower metal prices

Nissans pain worsens on 99% profit plunge, 12,500 job cuts

American Airlines sees US$400M blow to earnings on Max grounding

From the brink: How Home Capital fought to win back confidence

A&W looking to expand plant-based offerings amid Beyond Meat success

Couche-Tard steps further into cannabis with Fire & Flower stake

Ford forecast trails estimates as SUVs change over, China slumps

Southwest drops as it pulls Max into 2020, stops Newark service

Porter is not for sale despite recent wave of airline consolidation: Deluce

Meet the refugee-run company behind Trudeaus favourite chocolate

L Brands confirms it will review Jeffrey Epsteins role at company

U.S. safety board to issue 737 recommendations within 60 days

Worlds top toymaker joins companies leaving Chinas factories

No Beyond burrito: Chipotles CEO says faux meat is too processed

Allergan to stop selling some breast implants after cancer tie

Tesla plunges on loss, co-founders surprise exit from CTO job

Loblaws overzealous algorithm use sees sluggish same-store sales growth

Boeing warns it may halt 737 Max output if grounding drags on

Caterpillar hit by cooling energy sector in second quarter

Precision Drilling loss, revenue improve in Q2; debt repayment accelerates

Auxly Cannabis signs $123M investment, research deal with Imperial Brands

Husky Energy gets help from Q2 tax relief but profit down from year earlier

In the pig plague, it pays to be a crop giant in the right place

Halliburton and other drillers are fighting for new life in a world of cheap oil

Suncor leans on Syncrude to post record output amid curtailment

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Couche-Tard steps further into cannabis with Fire & Flower stake

As Canada gears up for pot 2.0, more shortages are on the menu

Curaleaf targeted in FDA crackdown on CBD marketing

Research on capturing carbon from mining secures federal funding

Drilling forecast goes from bad to worse after slow start to summer deployments

Cannabis draws more U.S. bankers as deals flow away from Canada

Wisconsin tribe sues Enbridge to force Line 5 pipeline removal

Hit by 93% tax, Napa wine falls victim to trade war in China

Canaccords Canadian ESG picks range from oil sands to mining

Halliburton cuts 8% of North American jobs in fracking slowdown

AltaGas selling U.S. power generating assets for $940 million

ECB signals rate cut, QE ahead as global stimulus push picks up

Fed to cut interest rates, stick to balance sheet runoff: Survey

New Turkey central banker pivots with biggest rate cut on record

Saudi princes US$500-billion megacity shows signs of life

ECB signals rate cut, QE ahead as global stimulus push picks up

Canada has a racial bias problem too: Studies

Rosenberg shuts down 80-cent loonie call: Theres no catalyst

A decade of low interest rates is changing everything

U.S. negotiators to head to China Monday for face-to-face talks

UBS CEO warns of dangerous bubbles spurred by central banks

IMF sees a weaker global economy; Canada unchanged

Motor vehicles drive unexpected stumble in wholesale sales

Return to easy money poised to slam bank profits in U.S., Europe

Trumps Fed-pick Judy Shelton says shed favour a half-point rate cut

Huawei rift not part of U.S.-China trade war: U.S. official

Feds Rosengren signals his opposition to an interest-rate cut

Paul Martin calls for very public fight against Trumps world view

Amazon has destroyed U.S. retail industry, Mnuchin says

Facebook tops revenue estimates; FTC opens antitrust probe

PayPal lowers annual sales forecast, citing product delays

Facebook to pay record US$5 billion to settle FTC privacy claims

Upgrade your memory with a surgically implanted chip!

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Two Uber board members, Huffington and Cohler, to depart

U.S. opens probe of online platforms over competition harm

Richest female venture capitalist backs volleyball media venture

The Uber IPO: Three million drivers, Big Macs and flying taxis

Shopify nips at Amazon with hassle-free shipping for small firms

Dish is said to agree to US$5B deal for wireless assets

Snapchats user growth picks up after Android fix; sales beat

Apple seeks Mac Pro parts tariff exclusion after move to China

Texas Instruments sales outlook defies China-U.S. trade concerns

Calls to break up Big Tech are bluster: Former competition commissioner

Apples heir apparent is much more like Tim Cook than Steve Jobs

Huawei said to reward staff for accelerating revenue despite a U.S. ban

Equifax agrees to pay US$700M to settle U.S. data breach probe

One chipmaker may tell ETF traders everything about earnings

Stock investors go all-in with US$6B bet on S&P 500 ETFs

Larry Berman: S&P 500 at 3,000. A hurdle, ceiling or emotional test?

Cannabis ETFs face a day of reckoning that even 30% gains cant avert

Zombie ETFs liquidated at record pace as fee war starts to sting

Bitcoins wild June is a slam dunk against crypto ETF approval: Money manager

Cannabis treatments are finding a home in the MMA fighting ring

BlackRock ETF breaks into stuffy credit trading market

ETF report: Video gaming ETF launches on the TSX

Backlash from ETF traders grows over push for bond reporting lag

Cage-fighter sponsored by pot ETF issuer in rare marketing move

Goldman steers stock pickers toward ETFs as liquidity evaporates

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Beaten-down chip ETF crushed by heavy focus on Huawei suppliers

Horizons unveils higher-risk leveraged, inverse cannabis ETFs

Warren Buffett lunch mystery deepens as his date apologizes to society

Transat co-founder could make more than $17 million from sale to Air Canada

The Canadian Press appoints veteran Andrea Baillie as editor-in-chief

Sprott CEO on gold: No one wants to own fire insurance, but the fires coming

A sad day for Bruce: Linton finds his zen after Canopy dismissal

Hogg, Mastercard CEO who introduced the Gold Card, dies at 91

Canadas top firms show disappointing data gap on gender, minorities

BMW names production chief Oliver Zipse as new CEO

Ex-CannTrust president fears for firms future amid regulatory probe

Seeds to startups: How summer tree planting helped Bruce Croxon blaze a trail in tech

Cannabis CEOs are white men, just like in the rest of the corporate world

CannTrust CEO breaks silence on Instagram amid regulatory probe

Feds should assess housing broadly, revisit mortgage rules: ATB CEO

Search on for prominent Quebec businessman, son after helicopter goes missing

OpenText observes moment of silence for competitor Red Hat after IBM deal

Ontario Teachers moving slowly on cannabis investments: CEO Mock

Ontario Teachers names Jo Taylor to succeed retiring CEO Ron Mock

Martello is more than just a T-shirt Bruce Linton wore: CEO

Porter is not for sale despite recent wave of airline consolidation: Deluce

Unilevers former chief moves on with plan to fix the world

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Chinas First AI Fund Learned From the Countrys Best Traders

BC-Chinas-First-AI-Fund-Learned-From-the-Countrys-Best-Traders , Bloomberg News

(Bloomberg) — Chinas investors will soon be able to pick machines over humans when trying to profit in the worlds wildest major stock market.

Zheshang Fund Management Co., which manages $6.5 billion, plans to use about 300 investment models to analyze more than 3,000 Chinese stocks for what it says is the nations first artificial intelligence-based fund run purely on recommendations from its machines.

The robots initially learned from the nations best fund managers and analysts, and after about a year in training are ready to take them on when the fund opens to retail investors next month, according to Zha Xiaolei, head of Zheshangs four-person AI investment team.

While a growing number of hedge funds globally including Bridgewater Associates and Man Group Plc have developed AI and machine learning strategies to gain an edge, the results so far have been mixed. Funds that incorporate AI into their decisions have lagged a broader hedge fund index since 2018, according to Eurekahedge. Making headway in a market famous for its unpredictable price swings, where mom-and-pop investors drive 80% of trades, wont be easy.

Globally AI strategy is at a very early stage, even though it may gain traction in the long run, said Liu Shichen, a Shanghai-based analyst at Z-Ben Advisors, an asset-management research firm. Explaining and selling the concept of an AI fund to a retail audience in China may be a tough task, he said.

To build a model that can adapt to China, Zheshangs machines first analyzed the strategies of more than 80 of the nations best-performing fund managers, drawing from public disclosures of their holdings. They were also fed stock recommendations from 500 star analysts and industry experts, and investment ideas from 200 chat groups.

Zha said they took volatility into account from the beginning by targeting Sharpe Ratio, a measure of risk-adjusted performance, as the key indicator for the robots. Diversifying the portfolio also helps contain the volatility, he said.

The machines now analyze 3,000 different data feeds to generate trading signals, and consistent underperformers are eliminated.

Every robot was assigned one specific goal and they need to reach perfection in doing it, said Zha.

The fund returned 26.4% between Sept. 28 and June 28, according to Zha, a period during which Chinese stocks swung from a bear market into a bull run. The benchmark CSI 300 Index added about 12%.

Zha, the only member in the AI fund team with a finance background, also manages Zheshangs big-data fund, which outperformed 94% of peers with a 22% return in the past year. Xiang Wei, the co-manager of the AI fund, has a doctorate in computer science and previously oversaw development of the personalized search engine at Baidu Inc.

In a big-data fund, managers analyze massive volumes of data to make investment decisions, while with machine learning — a subset of AI — computers improve their ability to independently find trading signals as they crunch more data over time.

The biggest challenge, Zha said, is that his machines havent had sufficient time to learn. The paucity of data on new companies and some industries in China can hinder performance, he said.

Eurekahedge doesnt track any AI hedge funds based out of mainland China, said Mohammad Hassan, its Singapore-based head analyst for hedge fund research and indexation.

AI funds shouldnt be a harder sell to retail investors, Hassan said. Clients will eventually be drawn to performance and other factors such as fund governance, he said. The AI hedge fund space is still in its nascent stages, but the shift towards more technology-, machine-intensive strategies is here to stay.

To contact Bloomberg News staff for this story: Jun Luo in Shanghai at ;Amy Li in Shanghai at

To contact the editors responsible for this story: Sam Mamudi at , Candice Zachariahs

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