Brett Caughran
@FundamentEdge
Completed my hedge fund tour of duty (Maverick, D.E. Shaw, Citadel, Schonfeld). Adjunct at ASU. Now building an exceptional analyst training firm. DMs open!
LAUNCHING ANALYST ACADEMY, AUG 4th COHORT Hello! We are very excited to be launching our next cohort of Analyst Academy. What is Analyst Academy? Six weeks and ~60 hours of everything I wanted to teach my junior…
Claude for Financial Services Keynote (getting a lot of buzz today) youtube.com/watch?v=5zd7m3…
This week and last I had a couple dozen Zooms w/ players in the public equity AI ecosystem (firms, analysts & vendors). What surprised me a bit is how many stories I've heard where AI tooling is impacting analyst hiring decisions at fundamental, process-oriented long/short…
My take on this after getting a lot of responses (both on thread and DM): 1) The instance I outlined here was almost certainly a hallucination, it seems. Many others have experienced this sort of 'plausible but intentionally misleading' response when pushing for sources (and…
Heard a wild AI anecdote today Investment analyst doing research on a company. Finds a piece of information that feels proprietary or hard to know. Presses the LLM for a source, "I don't have a source for this information". Presses again, "this is from board minutes of XYZ…
“We are living through the decentralization of insight” - great line And well said re: sell-side research Where I may have a different perspective is in the importance of access. Great analysts have an edge currently by doing better digging via desk-top research. This can be…
deep thoughts on "research" ... sell-side research was never built to be early. It was built to be safe. It is not designed to move ahead of the market. Its designed to follow it. To justify decisions already made. To reinforce narratives already priced in. Every note you see has…
Partnership Opportunity / Media & AI The Fundamental Edge team has become a big fan of The Rundown AI which is newsletter that does a good job of bridging complex AI technology and practical implementation (more focused on technology industry) We think there is a need to do…
Agree o3 w Deep Research is mind bending. As a trained short seller, I have a sort of reflexive distaste for much of the empty hype that comes out of Silicon Valley. But o3 with Deep Research is real. And even with incremental improvements and a coherent data integration…
Deep Research is one of the most incredible pieces of technology. Whenever I want to learn something, I have a tailored research report sent to my phone within 20 minutes. It is one piece of AI tech that truly feels magical, the first or twentieth time.
Replay of this session: youtube.com/watch?v=oMYU6g…
THE CUTTING EDGE: AI CO-PILOTS & THE DATA CHALLENGE Fundamental investors are increasingly recognizing the transformative potential of AI co-pilots for investment research, but critical questions are holding back widespread adoption. Many of the first wave co-pilots act as…