Chanticleer
Macquarie’s Melbourne Cup tips team asked AI a smart question
The firm’s quants turned to artificial intelligence to improve their race strike rate. There’s one thing they put to PunterGPT that investors can learn from.
There’s a scene in the immortal punting movie Let It Ride when the lead character, Jay Trotter – played by Richard Dreyfuss – decides to select the horse he will bet on by taking a survey of the characters of the racetrack.
But rather than tallying up the most frequent selections, Trotter gets out the big red pen, and puts a line through the name of every horse he’s tipped.
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