![]() ![]() In investing, the bets that have a capacity for huge returns are also the ones most likely to crater when things go wrong. In simple terms, a loss ratio of 10% means that a fund holding 10 positions has lost money on one of them. and online education platform Udemy Inc., have delivered similarly splashy returns.But while the wins are impressive, it's the losses - or rather the lack of them - that stand out.One measure of a fund's performance is known as its loss ratio. Most wished to remain anonymous discussing non-public information. A spokesperson for Stripes declined to comment.The firm's investments in Swiss sneaker-maker On Running and workplace software business Ltd., both of which went public this year, have, respectively, netted Stripes 18 and 22 times their original investment. Money transfer app Remitly Global Inc. Stripes’ recent cyborg successes could make a strong case for that to change.This story is based on documents, filings, and interviews with several people familiar with the inner workings of Stripes and its technology. Yet in private equity, where swagger and a monogrammed shirt are still the most reliable way to source deals, artificial intelligence hasn’t caught on. Hedge funds have been using them to beat humans for decades, building algorithms able to dip in and out of an investment several times before you finish this sentence. Now, it’s getting closer to perfecting the art of not losing. But the unusual marriage of algorithms and shoe leather has scored Stripes some big wins. When it finds one it likes, about 0.006% of the time, human co-workers start the often years-long process of relationship building. From the investment firm’s Manhattan offices, it consumes everything it can on the 13 million private companies it tracks. (Bloomberg) - The robot at Stripes enjoys reading. ![]()
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