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Channel: Understanding What Drives Momentum in Global Stock Markets
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Dr. Ernest Chan’s Journey: The Promise and Limits of AI and Machine Learning for Investing

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Machine learning is great at finding correlations but not so great at finding causal relationships. In other fields, such as medicine, correlations often lead to causal relations. Not so in finance. The market is too noisy, too non-stationary, and subject to arbitrage activities, such that machine learning has often found correlations that don’t persist.

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