James C. McGrath

Predicting the future isn't the best part of prediction markets. They are much more useful to ascertain how beliefs evolve in real-time. Understanding the dispersion of beliefs allows investors to budget risk more effectively.

Hedge funds have been all over the place, along with the markets, through the first part of this year. The average hedge fund held its own (more than we can say for the S&P 500) but some did really well. Is there anything we can say about the strategies that worked, and what might we learn about future positioning from what we've seen thus far?

We are still in the early innings of the AI revolution in finance (and even less in investment management), but as wild and wonderful as those applications are, they are more quantum leaps than a new way of looking at the world. Quantum computing may be even more profound—a veritable paradigm shift.