Connect with us

FACEBOOK

This Robot Trader Turned Bullish on Amazon, Facebook, and Nvidia. What It Sold. | Barron’s

Published

on

An exchange-traded fund with holdings decided by artificial intelligence loaded up on shares of

Amazon,


Facebook,

and

Nvidia

this month, as the robot trader turned bullish on technology and U.S. retail—and doubted some Covid-19 pandemic trend stocks.

In a departure from recent months, the robot trader went all-in with its new picks, which now represent the five largest holdings in the fund. Amazon has a portfolio weighting of 7.98%, followed close behind by Facebook with 7.91%. Nvidia makes up 6.06% of the fund with

Walmart

and Home Depot at 4.83% and 4.24%, respectively. 

The remaining stocks in the fund’s top 10, making up between 3.96% and 1.9% of AMOM, are software groups

Adobe

(ADBE) and

Intuit

(INTU), semiconductor companies

Texas Instruments

(TXM) and

Lam Research

(LRCX), and beauty products powerhouse

Estée Lauder

(EL).

Facebook and Nvidia’s respective pushes into the metaverse make them attractive investments, said Francis Geeseok Oh, a managing director at Qraft and the head of its Asia-Pacific business. 

Advertisement
free widgets for website

The metaverse is a buzzword referring to virtual environments in which users can immerse themselves—whether that be to interact and work with others, consume content, or more. As Barron’s wrote last month, “it’s like being inside the internet, versus just connecting to it.”

Facebook CEO Mark Zuckerberg has said the company’s future is in the metaverse—and it recently rolled out virtual workspaces in Facebook Workrooms. Nvidia, similarly, has developed what it calls the Omniverse—a real-time, 3-D computer simulation and collaboration platform with industrial applications such as simulating factories.

Also read: The Metaverse Goes Beyond Facebook. Watch These Stocks.

See also  Facebook hijacking: Victims from across US reach out to News 8

As for Amazon, AMOM’s recent buy only brings the tech giant back into the fold after a hiatus. “AMOM removed Amazon last month before it missed Q2 earnings expectations,” Oh noted, saying that its addition in September represents the advantages of an active strategy. 

Oh also said that the robot trader’s picks—namely, Walmart and Home Depot—emphasize a retail boom in the U.S. The latest retail sales data, from July, showed that sales have slowed, but there remains a convincing case for investors to remain optimistic about American consumers.

Advertisement
free widgets for website

The additions in September came as the artificial intelligence behind AMOM removed chip maker

AMD

(AMD), social media group

Snap

(SNAP), video communications company

Zoom

(ZM), digital scanning and orthodontics specialist

Align

(ALGN), and connected television maker

Roku

(ROKU). AMD, Snap, Zoom, and Align previously made up AMOM’s top-four holdings.

Oh noted that the AI’s decision to remove AMD was likely a profit-taking trade. The stock is up almost 17% so far this year.

But it’s a different story for Zoom and Roku, Oh said, highlighting that the robot trader turned its back on two stocks that represent the “pandemic trade”—businesses that have benefited from trends accelerated by the Covid-19 pandemic.

“This may be a response to the Delta [coronavirus] variant and the increasing belief amongst many analysts that it has reached its peak,” Oh said.

Plus: Jeff Bezos Isn’t the World’s Richest Person Anymore. Meet the Man Who Beat Him.

Advertisement
free widgets for website

AMOM has been listed in New York since May 2019, and has delivered total returns of 15.5% so far in 2021 and 32% in the past year—outpacing its benchmark, the S&P 500 Momentum index, which has climbed a comparable 30% in the past year.

See also  Google, Facebook Are Human Rights Abusers, Says Amnesty International

AMOM is an actively managed portfolio driven by artificial intelligence, tracking 50 large-cap U.S. stocks and reweighting its holdings each month. It is based on a momentum strategy, with the AI behind its stock picks capitalizing on the movements of existing market trends to inform the decision to add, remove, or reweight holdings. The artificial intelligence scans the market and uses its predictive power to analyze a wide set of patterns that show stock-market momentum.

The fund is a product of Qraft, a Seoul, South Korea-based fintech group leveraging AI across its investment products, which include three other AI-picked versions of major indexes: a U.S. large cap index (

QRFT

); a U.S. large cap dividend index (

HDIV

); and a U.S. value index (

NVQ

).

The entrance of AI-run funds onto Wall Street promised a new high-tech future for investing, though it hasn’t quite lived up to the hype yet. Theoretically, researchers have shown that AI investing strategies can beat the market by up to 40% on an annualized basis, when tested against historical data.

But Vasant Dhar, a professor at New York University’s Stern School of Business and the founder of machine-learning-based hedge fund SCT Capital Management, argued on MarketWatch in June 2020 that AI-run funds won’t “crack” the code of the stock market.

Advertisement
free widgets for website

Advocating caution, Dhar said that it was difficult for funds underpinned by machine learning to maintain a sustainable edge over markets, which have “a nonstationary and adversarial nature.” He advised investors considering an AI system to ask tough questions, including how likely it is that the AI’s “edge” will persist into the future, and what the inherent uncertainties and range of performance outcomes for the fund are.

See also  Facebook and Instagram to launch Mena campaign to prevent child exploitation online

Write to Jack Denton at jack.denton@dowjones.com

Read More

Advertisement
free widgets for website

FACEBOOK

Facebook Messenger Is Launching a Split Payments Feature for Users to Quickly Share Expenses

Published

on

By

Facebook Messenger Is Launching a Split Payments Feature for Users to Quickly Share Expenses

Meta has announced the arrival of a new Split Payments feature in Facebook Messenger. This feature, as the name suggests, will let you calculate and split expenses with others right from Facebook Messenger. This feature essentially looks to bring an easier method to share the cost of bills and expenses — for example, splitting a dinner bill with friends. Using this new Split Payment feature, Facebook Messenger users will be able to split bills evenly or modify the contribution for each individual, including their own.

The company took to its blog post to announce the new Split Payment feature in Facebook Messenger. 9to5Mac reports that this new bill splitting feature is still in beta and will be exclusive to US users at first. The rollout will begin early next week. As mentioned, it will help users share the cost of bills, expenses, and payments. This feature is especially useful for those who share an apartment and need to split the monthly rent and other expenses with their mates. It could also come handy at a group dinner with many people.

With Split Payments, users can add the number of people the expense needs to be divided with and, by default, the amount entered will be divided in equal parts. A user can also modify each person’s contribution including their own. To use Split Payments, click the Get Started button in a group chat or the Payments Hub in Messenger. Users can modify the contribution in the Split Payments option and send a notification to all the users who need to make payments. After entering a personalised message and confirming your Facebook Pay details, the request will be sent and viewable in the group chat thread.

See also  Google, Facebook Are Human Rights Abusers, Says Amnesty International

Once someone has made the payment, you can mark their transaction as ‘completed’. The Split Payment feature will automatically take into account your share as well and calculate the amount owed accordingly.


For the latest tech news and reviews, follow Gadgets 360 on Twitter, Facebook, and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel.

Advertisement
free widgets for website

Tasneem Akolawala is a Senior Reporter for Gadgets 360. Her reporting expertise encompasses smartphones, wearables, apps, social media, and the overall tech industry. She reports out of Mumbai, and also writes about the ups and downs in the Indian telecom sector. Tasneem can be reached on Twitter at @MuteRiot, and leads, tips, and releases can be sent to tasneema@ndtv.com.

Continue Reading

FACEBOOK

Facebook Owner Meta Launches New Platform, Safety Hub to Protect Women in India

Published

on

By

Meta Image

Meta (formerly Facebook) on Thursday announced a slew of steps to protect woman users on its platform, including the launch of StopNCII.org in India that aims to combat the spread of non-consensual intimate images (NCII).

Meta has also launched the Women’s Safety Hub, which will be available in Hindi and 11 other Indian languages, that will enable more women users in India to access information about tools and resources that can help them make the most of their social media experience, while staying safe online.

This initiative by Meta will ensure women do not face a language barrier in accessing information Karuna Nain, director (global safety policy) at Meta Platforms, told reporters here.

“Safety is an integral part of Meta’s commitment to building and offering a safe online experience across the platforms and over the years the company has introduced several industry leading initiatives to protect users online.

“Furthering our effort to bolster the safety of users, we are bringing in a number of initiatives to ensure online safety of women on our platforms,” she added.

Advertisement
free widgets for website

StopNCII.org is a platform that aims to combat the spread of non-consensual intimate images (NCII).

“It gives victims control. People can come to this platform proactively, hash their intimate videos and images, share their hashes back with the platform and participating companies,” Nain said.

She explained that the platform doesn’t receive any photos and videos, and instead what they get is the hash or unique digital fingerprint/unique identifier that tells the company that this is a known piece of content that is violating. “We can proactively keep a lookout for that content on our platforms and once it”s uploaded, our review team check what”s really going on and take appropriate action if it violates our policies,” she added.

See also  Paul Schrader Announces Facebook Hiatus After Post on Andrew Cuomo Allegations

In partnership with UK Revenge Porn Helpline, StopNCII.org builds on Meta’s NCII Pilot, an emergency programme that allows potential victims to proactively hash their intimate images so they can”t be proliferated on its platforms.

The first-of-its-kind platform, has partnered with global organisations to support the victims of NCII. In India, the platform has partnered with organisations such as Social Media Matters, Centre for Social Research, and Red Dot Foundation.

Advertisement
free widgets for website

Nain added that the company is hopeful that this becomes an industrywide initiative, so that victims can just come to this one central place to get help and support and not have to go to each and every tech platform, one by one to get help and support.

Also, Bishakha Datta (executive editor of Point of View) and Jyoti Vadehra from Centre for Social Research are the first Indian members in Meta”s Global Women”s Safety Expert Advisors. The group comprises 12 other non-profit leaders, activists, and academic experts from different parts of the world and consults Meta in the development of new policies, products and programmes to better support women on its apps.

“We are confident that with our ever-growing safety measures, women will be able to enjoy a social experience which will enable them to learn, engage and grow without any challenges.

“India is an important market for us and bringing Bishakha and Jyoti onboard to our Women”s Safety Expert Advisory Group will go a long way in further enhancing our efforts to make our platforms safer for women in India,” Nain said.

See also  A Marine officer posted a video calling out senior leaders in Afghanistan. He was relieved of

Advertisement
free widgets for website
Continue Reading

FACEBOOK

Facebook Adds New Trend Insights in Creator Studio, Which Could Help Shape Your Posting Strategy

Published

on

By

facebook-adds-new-trend-insights-in-creator-studio,-which-could-help-shape-your-posting-strategy

Facebook’s looking to provide more content insight within Creator Studio with the rollout of a new ‘Inspiration Hub’ element, which highlights trending content and hashtags within categories related to your business Page.

Facebook Inspiration Hub

As you can see in these screenshots, posted by social media expert Matt Navarra, when it becomes available to you, you’ll be able to access the new Inspiration Hub from the Home tab in Creator Studio.

At the right side of the screen, you can see the first of the new insights, with trending hashtags and videos from the last 24 hours, posted by Pages similar to yours, displayed above a ‘See more’ prompt.

When you tap through to the new hub, you’ll have a range of additional filters to check out trending content from across Facebook, including Page category, content type, region, and more.

Facebook Inspiration Hub

That could be hugely valuable in learning what Facebook users are responding to, and what people within your target market are engaging with in the app.

Advertisement
free widgets for website

The Hub also includes insights into trending hashtags, within your chosen timeframe, which may further assist in tapping into trending discussions.

Facebook Inspiration Hub

How valuable hashtags are on Facebook is still up for debate, but you’ll also note that you can filter the displayed results by platform, so you can additionally display Instagram hashtag trends as well, which could be very valuable in maximizing your reach.

Much of this type of info has been available within CrowdTangle, Facebook’s analytics platform for journalists, for some time, but not everyone can access CrowdTangle data, which could make this an even more valuable proposition for many marketers.

See also  How to hide likes on Instagram?

Of course, overall performance really relates to your own creative, and thinking through the action that you want your audience to take when reading your posts. But in terms of detecting new content trends, including hashtag usage, caption length, videos versus image posts, and more, there’s a lot that could be gleaned from these tools and filters.

It’s a significant analytics addition – we’ve asked Facebook for more info on the rollout of the new option, and whether it’s already beyond test mode, etc. We’ll update this post if/when we hear back.

Advertisement
free widgets for website
Continue Reading

Trending