• UBS, Commerzbank Models Predicted Germany Would Win the World Cup. Why Predicting Sports Is Bad Business

    4 monthes ago - By Fortune

    Investment banks have spent heavily on sophisticated computer programs, hoping to better predict stock market that is inherently unpredictable. To show off their algorithmic prowess, some financial institutions set out to predict the winner of the 2018 World Cup.
    For Switzerland-based UBS and Germany's Commerzbank , that didn't work out so well. Before the game started, the banks ran computer simulations of World Cup games and both concluded that the likely winner would be... ... Germany.
    The top ranked country suffered a stunning 2-0 defeat on Wednesday to South Korea, the World Cup's...
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