When Even a Crystal Ball Can’t Make You Rich

See How You’d Fare in This Challenge… [The Daily FWD] September 27, 2024 [UNSUBSCRIBE]( When Even a Crystal Ball Can’t Make You Rich Hi Reader, Here’s what our editors are looking at today… [Click here to learn more]( Alan Knuckman: The Crystal Ball Challenge If investors had known in advance the size of the Federal Reserve’s latest interest-rate cut, would they have made big money on stocks and bonds trading on this market-moving intel? Surprisingly, the answer appears to be a resounding no, at least when it comes to amateur traders and their ilk, according to a recent study from Elm Partners Management’s Victor Haghani and James White. The researchers placed participants in a dream position of knowing the future in an experiment called “The Crystal Ball Challenge.” Players got an early read of major economic news and Fed policy decisions — without knowing the precise market moves of the day in advance — before placing their bets. Three groups with varied financial knowledge and trading experience played the game. Wall Street’s seasoned macro traders performed the best. Yet when it came to predicting market directions, the score was far from stellar, with their bets ending up correct only 63% of the time. For amateurs, their returns took a hit as levered-up stock wagers went awry. [⇒ Read More Here]( [Click here to learn more]( Recommended Reads: [External Advertisement] [America's 'Judgment Day' Looms]( A secret meeting in Kazan, Russia on Oct 22 could lead to widespread abandonment of the US dollar, potentially causing economic instability and personal hardship. [⇒ Learn more here]( [Click here to learn more]( Dan Amoss: A Deep Dive on ChatGPT That ChatGPT can automatically generate something that reads even superficially like human-written text is remarkable and unexpected. But how does it do it? And why does it work? Let’s go over what exactly is going on inside ChatGPT — and then explore why it is that it can do so well in producing what we might consider to be meaningful text. [⇒ Read More Here]( [Click here to learn more]( Brian Maher: Argentina Scrapped Its Rent Controls. Now the Market Is Thriving. For years, Argentina imposed one of the world’s strictest rent-control laws. It was meant to keep homes such as the stately belle epoque apartments of Buenos Aires affordable, but instead, officials here say, rents soared. Now, the country’s new president, Javier Milei, has scrapped the rental law, along with most government price controls, in a fiscal experiment that he is conducting to revive South America’s second-biggest economy. The result: The Argentine capital is undergoing a rental-market boom. Landlords are rushing to put their properties back on the market, with Buenos Aires rental supplies increasing by over 170%. While rents are still up in nominal terms, many renters are getting better deals than ever, with a 40% decline in the real price of rental properties [⇒ Read More Here]( That’s all for today, we’ll be back next week with more topics and articles from our editors. Email us [here](mailto:feedback@paradigmpressgroup.com) with whatever crosses your mind that you want us to cover. We look forward to hearing from you! Looking forward to your financial future, [The Daily FWD] The Daily FWD [feedback@paradigmpressgroup.com](mailto:feedback@paradigmpressgroup.com?subject=Daily FWD Feedback) Recommended Reads: [Could Elon Musk’s New Project be worth trillions of dollars?]( Elon Musk has predicted that his new venture “[X-9840” could be “a multi trillion dollar company…”]( As big as Microsoft… Apple…and Nvidia… Companies gave their early investors a chance to become millionaires over the long term, starting with just $1,000. [Click here to see the details]( because this has nothing to do with electric vehicles…Self-driving cars, rockets, brain chips, or satellites. [⇒ Read More Here]( [Paradigm]( ☰ ⊗ [UPDATE PREFERENCES]( [Contact Us]( © 2024 Paradigm Press, LLC. 1001 Cathedral Street, Baltimore, MD 21201. By submitting your email address, you consent to Paradigm Press, LLC. delivering daily email issues and advertisements. To end your The Daily FWD e-mail subscription and associated external offers sent from The Daily FWD, feel free to [click here,]( or manage your newsletter preferences [here.]( Please note: the mailbox associated with this email address is not monitored, so do not reply to this message. We welcome comments or suggestions at feedback@paradigmpressgroup.com. This address is for feedback only. For questions about your account or to speak with customer service, [contact us here]( or call (844)-731-0984. 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