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Record W7133357321 · doi:10.61190/fsr.v14i3.4826

Probabilistic investing

2005· article· W7133357321 on OpenAlexaffabout
Moshe A. Milevsky, Thomas S. Salisbury

Bibliographic record

VenueFinancial Services Review · 2005
Typearticle
Language
FieldEconomics, Econometrics and Finance
TopicSports Analytics and Performance
Canadian institutionsYork University
Fundersnot available
KeywordsCONTESTOddsNewspaperStock (firearms)Probabilistic logicInvestment (military)Globe

Abstract

fetched live from OpenAlex

For the past nine years the Globe and Mail (Canada's oldest national daily) newspaper has held an annual stock picking contest. In 2002, 2003, and then again in 2004, a finance professor won this contest. Motivated and inspired by the contest, this article shows that a rational player can increase the odds of winning an investment contest to a 50/50 chance by selecting a stock that (1) is highly volatile, and (2) negatively correlated with the other selections, or (3) exhibits a negative empirical beta. We conclude by arguing that picking stocks to win an investment game or contest is quite different from selecting securities for a personal investment portfolio.

Fetched live from OpenAlex and de-inverted. Abstracts are not stored in this database: the inverted indexes are 8.6 GB of the frame’s 9.3 GB of text, and the host has 13 GB free.

How this classification was reachedexpand

Full frame machine prediction

Teacher imitation

Not calibrated prevalence, not ground truth. Human validation pending. The Gemma side is a direct model label for every work in the frame, read from the title-only record. The Codex side is a classifier learned from the 10,348 direct Codex labels and calibrated to design-weighted sample rates; fields without enough sample support carry no Codex call. Candidate is the union of the two sides; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels.

metaresearch head score (Codex)0.003
metaresearch head score (Gemma)0.018
Version: metacan-v3-hybrid-931329e0061cValidation status: machine_predicted_unvalidated
Candidate categoriesnone
Consensus categoriesnone
DomainCandidate signal: none · Consensus signal: none
Study designCandidate signal: Not applicable · Consensus signal: none
GenreCandidate signal: Empirical · Consensus signal: none
Teacher disagreement score0.032
Threshold uncertainty score0.106

Distilled classifier scores by category (both heads)

CategoryCodexGemma
Metaresearch0.0030.018
Meta-epidemiology (narrow)0.0010.001
Meta-epidemiology (broad)0.0010.001
Bibliometrics0.0010.002
Science and technology studies0.0010.001
Scholarly communication0.0030.005
Open science0.0020.002
Research integrity0.0010.002
Insufficient payload (model declined to judge)0.0320.004

Machine scores (provisional)

The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.

Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.

Opus teacher head0.027
GPT teacher head0.234
Teacher spread0.207 · how far apart the two teachers sit on this one work
Validation statusscore_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from it

Classification

machine, unvalidated

Machine predicted; a candidate call from one source (direct Gemma or distilled Codex), not a consensus.

The models applied no category: nothing in the taxonomy fit this work.
Study designNot applicable
Domainnot available
GenreEmpirical

How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".

Quick stats

Citations0
Published2005
Admission routes2
Has abstractyes

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