Invest with AI
Fundamental Edge
12 episodes
Can AI Replace Traditional Expert Networks? The Future of Primary Research with Qualitate
- Sagar Kadakia, founder of Qualitate, says AI interviewers must match or beat human callers because people who suffered poor automated support calls will reject a weak product.
- Kadakia argues public data is now worth zero, so edge comes from proprietary expert information and how fast funds generate questions and launch studies.
30 Oct · 1 h 4 min
Where Will Investors Find Alpha in the Age of AI? | Alistair Smallwood, Head of Applied AI at Primer
- Primer says its LLM-based system can execute mosaic theory at scale, combining weak public signals into conviction about a company across filings for 15,000 companies.
- Alistair Smallwood of Primer argues short-term repeatable alpha is compressing, so investors must lengthen horizons toward regime shifts, turnarounds and management changes where AI is underrepresented.
9 Oct · 1 h 12 min
From Answer Engines to Work Mechanisms: The AI Inflection on Wall Street
- Khe Hy says Codex's redesigned app leapfrogged Claude Code for many users because it is easier to use, faster and cheaper.
- Khe Hy argues Codex running on a local machine reachable from a phone turns an always-on Mac mini into a host for personal agents, which is why OpenClaw users are switching.
21 Aug · 48 min
Intelligent Alpha CEO: Letting AI Run the Portfolio
- Intelligent Alpha CEO Doug Clinton says the firm began as a test of whether ChatGPT could beat the S&P 500, then became a fund run by frontier models.
- Doug Clinton says knowledge graphs will generate alpha for 12 to 18 months before commoditizing, and that firms should accept imperfection for speed because the paradigm shifts within months.
14 Aug · 56 min
Daloopa CEO Thomas Li: The Magic Isn’t in the Model
- Daloopa CEO Thomas Li says agents now consume nearly all of the company's data, up from about 5% per quarter before AI agents, and year-over-year consumption has grown over 100 times.
- Li argues Daloopa's moat is data quality, citing 99.9% accuracy, and says that edge is hard to copy because it rests on process, incentives and culture rather than tools.
7 Aug · 1 h 8 min
Hudson Labs CEO Kris Bennatti: Financial AI Still Gets the Numbers Wrong
- Hudson Labs launches a no hallucination guarantee, which CEO Kris Bennatti says no other market competitor will match, after a test showed state-of-the-art models returning wrong numbers 30% of the time beyond four to eight periods.
- Bennatti says Hudson Labs' forensic risk score converts qualitative governance risks into machine-learning variables and carries about a one-in-three chance of SEC enforcement at 70 or higher.
24 Jul · 56 min
Fable Is Here, But Is It Actually Better? | Invest with AI Vibe Check
- Khe Hy says Fable one-shot several tasks that Opus likely could have done only with heavy steering, after he fed it about 200 call transcripts and 50 decks.
- Brett Caughran plans a real-world test of 100 earnings previews as earnings season starts, a test he expects Fable to fail.
17 Jul · 39 min
Canary CEO/Ex-Tiger Global PM: How Bad AI Is Leaving Alpha on the Table
- Joe O'Donnell, a former Tiger Global short portfolio manager, argues domain judgment is the decisive ingredient in building AI for public markets investors.
- Joe O'Donnell says firms should default to building their own AI investment systems, since codifying an investment process takes years of fine-tuning, data work and analyst review.
10 Jul · 57 min
Deploying AI on the Buyside: A 20-Year Engineer's Playbook
- Matt Stockton advises smaller investment firms to name their workflows, systematize one or two, and align the whole team rather than boiling the ocean.
- Brett Caughran reports a 1,200,000-token Excel financial model overwhelmed a SharePoint-to-ChatGPT connection, so Stockton recommends splitting tasks, preprocessing documents, and using calculations in code.
3 Jul · 56 min
Stoic Point Co-Founder: AI is Bringing Back the Lean Hedge Fund
- Stoic Point co-founder Raj Shah says AI lets his two-person, concentrated hedge fund do research a lean firm could not otherwise afford.
- Raj Shah says LLM-native screeners give inconsistent results, so Stoic Point starts with a Bloomberg quantitative screen before passing a reduced universe to qualitative tools like Portrait and AlphaSense.
26 Jun · 56 min
Implied CEO on the Limits and Capabilities of AI for Investing
- Ying Hua, cofounder of Implied and former Balyasny portfolio manager, argues general model companies will not eat the vertical finance market because they are unlikely to do the slow work of ingesting ever-changing market knowledge.
- Ying Hua says Implied processes its own data, running live transcription with under one second of delay and a scraper across seven highway patrol websites that tracks accident duration for car insurers.
19 Jun · 51 min
Investing with AI: From Chatbots to Agents (What Changed for Investors)
- Brett Caughran says agentic AI moved from hype to useful in late 2025, lifting AI's share of his investor workflows to an estimated 30 to 60 percent.
- Brett Caughran won't put LLMs on financial models at about 65 percent accuracy because wrong numbers can look plausible, so he relies on validation agents.
12 Jun · 38 min