The Bot Brief

                    "There is no force on earth more powerful than an idea whose time has come."      Victor Hugo

Bots in the News:

While the broader market gained a mere 62 basis points in last week’s trading, the Bot Index soared some 4.33%. A trio of the Asian holding helped push the index to its highest level since 2021 and three other holdings produced double digit gains as well. There was only one decliner of noteworthy and it was consistently volatile Oceaneering International who was off 4.85%.

Fanuc, Hiwin Technologies, Yaskawa Electric were all up 5%-8% and NIO Inc. gained 23.29%. NIO’s remarkable gain came as China initiated an economic stimulus initiative.

Following its EV competitor NIO, Tesla likewise, produced an above average gain of 9.36%. Elon Musk announced the company would be marking a significant development in next week’s Robo-taxi unveiling. Much like Apple’s persistent September extravaganza of new products, apparently Tesla is following suit.

3D Systems rose 12.40%, AeroVironment chocked up another gain of 9.24% and recently added to the Index, Novanta experienced a healthy 7.35% increase.

Apparently, All robots Are Not the Same:

Just as Charles Schwab announced it was closing its Institutional Intelligent Portfolio Platform (aka Robo-Advisor), we see that another platform reported spectacular performance results. Dropping its Robo-Advisor, Schwab is requesting advisors utilize the iRebal platform that it acquired in its takeover of TD Ameritrade. It should be noted that both J.P Morgan and Goldman Sachs had earlier ended their experiments with robo-like advisory firms. Apparently, many investors are still skeptical of the injection of AI into their traditional trading efforts.

An alternative in the robo stock selection space another entrant into fray reported its artificial intelligence trading robot generated a return of $38,000 from a $5,000 investment over the course of a week. These finding were verified through trading records by third-party fact checker MyFxBook.

The story doesn’t end with the initial success. Starting from January 23, 2024, with a $1,000 investment, the bot once again showed its worth in forex trading. By June 11, 2024, it earned a paper profit of $5,600 — a stunning 560% gain over the test period.

Member: American Economic Association, Society of Professional Journalists, United States Press Association. Institute of Chartered Financial Analysts, Robotic Industries Association (now A3 Automation), Member IEEE.

The Bot Brief is a weekly newsletter designed for economists, investment specialists, journalists, and academicians. It receives no remuneration from any companies that may from time to time be featured in the brief and its commentaries, analysis, opinions, and research represent the subjective view of Balcones Investment Research, LLC. Due to the complex and rapidly changing nature of the subject matter, the company makes no assurances as to the absolute accuracy of the material ppresented.

.