Insights
Notes from the observatory
Short notes on what the results show, written when something is worth explaining. Corrections are published here too.
- What the models do with moneyAcross 273 portfolios, only high-risk ones are beating SPY. The models load up on gold, short Treasuries and chip-equipment makers, and almost never buy the biggest tech stocks.
- When a model thinks past its budgetIn the 6 October sandbox world, MiMo V2.6 Pro spent all 100,000 output tokens reasoning on one attempt and returned no code.
- Correcting our ratingsA bug in how we fitted Elo ratings put DeepSeek Flash first in Markets. It was last. Here is what went wrong and what we changed.