Macro Investing and Market Strategy by Brett Caughran
Brett Caughran: SharpeShooters team wins Wharton Investment and Trading Group stock pitch competition
SharpeShooters, along with Ayush Bobra of Princeton and Ambilu Sivabalan of Cornell, won the 4th Annual Wharton Investment and Trading Group x Fundamental Edge Stock Pitch Competition with a short ...
Examining RBLX position following recent share decline, Brett Caughran notes
Brett Caughran described a conversation with his son about managing a long RBLX position in his son's Roth IRA after a significant selloff. Caughran also noted using Tesla FSD and discussing ...
Brett Caughran: LLMs have delivered poor ROI for investment research since November 2022
Brett Caughran described his experience using large language models (LLMs) for investment research since ChatGPT 3.5 was released in November 2022, stating that the return on investment for time ...
Turning Anthropic S1 into IPO primer produces mixed results, Brett Caughran notes
Brett Caughran stated that he used his /FE-IPO-primer skill to transform the Anthropic S1 filing into a 121-page IPO primer. Caughran described the resulting document as having its moments but ...
Brett Caughran: Fourth annual Wharton undergraduate stock pitch competition announced
The fourth annual Wharton Investment & Trading Group and Fundamental Edge undergraduate stock pitch competition has been announced. Brett Caughran shared that the competition is regarded as the ...
AI viewed as both a generational investment theme and source of crowding, Brett Caughran notes
Brett Caughran discussed how conversations about artificial intelligence (AI) often conflate two separate ideas: AI as a generational, investable theme and the emergence of a clear group of 'AI ...
Brett Caughran: AI investment systems face adoption limits in hedge funds
AI investing systems are approaching or exceeding human capability, but Brett Caughran said adoption in the hedge fund industry is likely to be slower than in other sectors. According to Caughran, ...
AI hedge funds are often just repackaged factor strategies, Brett Caughran notes
Brett Caughran stated that almost all AI hedge funds he has observed primarily use factor strategies that have been repackaged. He argued there are multiple reasons why this approach is unlikely ...
Brett Caughran: Training firm has developed over 2,000 equity analysts for top asset managers
Brett Caughran runs a training firm focused on teaching young investors to become strong fundamental equity analysts. He reports that the firm has trained more than 2,000 analysts through direct ...
Analysts build models from scratch in current hedge fund industry, Brett Caughran notes
Brett Caughran highlights the importance of having analysts build all models from scratch to help them better understand the businesses they study. He further observes that in today's hedge fund ...
Brett Caughran: Reliable Excel integration remains essential for investors
Brett Caughran highlights the importance of reliable Excel read and write capabilities for investors. He argues that while artificial intelligence tools may eventually replace Excel, they ...
Rotating analysts across sectors gave unique advantages, Brett Caughran notes
Brett Caughran describes how the Tiger cubs investment firms traditionally rotated talented analysts through various industry sectors, providing them with deep, sequential immersion. According ...
Brett Caughran: Investment decisions are driven by financial modeling and research insight
Brett Caughran explains that every investment decision he has made has been guided by an Excel spreadsheet and a detailed financial model. He describes the model as a tool that simulates ...
AI matches junior analyst model creation, Brett Caughran notes
Brett Caughran reports that artificial intelligence has reached a new milestone by passing what he describes as the "financial modeling Turing test." Caughran observes that an AI tool produced a ...
Brett Caughran: Predictive analyses now possible in Claude Excel for NKE
Brett Caughran highlights new capabilities available for users of Claude Excel, particularly with the stock NKE. After updating the model, which required roughly one minute of active setup and ...
Startup software rarely reaches $1 billion valuation in equity investment space, Brett Caughran notes
Brett Caughran observes that for decades, the front office of global fundamental equity investment firms has largely depended on Excel and Bloomberg. He points out that, aside from AlphaSense, ...
Brett Caughran: Live webinar to address building AI workflows for credit investing
Brett Caughran is inviting participants to join a live webinar focused on creating AI workflows for credit investing. The session will feature Caughran's approach, including insights drawn from ...
Credit Academy initiative targets investment analysis skills, Brett Caughran notes
Brett Caughran announced the official launch of The Fundamental Edge Credit Academy. The new academy builds on the foundation set four years ago with the Fundamental Edge Analyst Academy, which ...
Brett Caughran: Research productivity tools drive change in buy-side analysis
Brett Caughran examines the growing influence of research productivity tools on the buy-side over the past 20 years. He highlights innovations in modeling such as India outsourcing and platforms ...
Fundamental Edge unveils analyst program for students, Brett Caughran notes
Brett Caughran announced that Fundamental Edge is offering a free analyst training program to undergraduate investment clubs, known as the Fundamental Edge Investment Club (FExIC), led by Andrew ...
Brett Caughran: AI tools in investing are more useful and less flashy than marketed
Brett Caughran offers an assessment of the current state of AI tools in investing, noting that after using these tools for several years on the buy side, their value is more practical and less ...
