Several funds that manage clients' money using algorithms suffered losses this summer. The machines were unprepared for the unpredictability of the US president. But do they always lose to humans?

Models vs. managers: who manages money better

 
The stock exchange has always been a place of struggle. Some are buying, others are selling, everyone is trying to outsmart each other. In this chaos, a price is born, which reflects the real value of the asset. But what if programs rather than people take the helm? 

"Collusion of robots": what risks AI development brings to stock trading

Since the end of 2022, the markets have been euphoric: each new generation of AI models causes bouts of optimism, and the quotations of AI-related technology companies are growing by tens and hundreds of percent. But beyond the hype and flashy headlines in the media and investor communities, there is another, more objective indicator - the behavior of the government and corporate bond market. Economist Denis Elakhovsky has studied the research and found out that after the releases of the largest AI models, long-term rates are falling - as if investors are laying down not for accelerated growth, but for risks and stagnation.

Artificial intelligence and economic growth: market reaction to the release of new AI models

Tesla, Inc.

Delta Air Lines, Inc.

The Walt Disney Company

Unilever PLC

NIKE, Inc.

Tesla shareholders are well aware of the value of its owner, Ilon Musk's tweets. His public altercation with President Trump in June 2025<a href="https://www.reuters.com/business/autos-transportation/tesla-shares-slide-musk-steps-up-criticism-ally-trump-2025-06-05/"> cost</a> the company $150 billion in market capitalization in a single day. But this is not an isolated incident. In a world where social media has become an integral part of corporate communication, CEOs and spokespeople are increasingly daring to publicly declare their position on sensitive political issues. And any careless post in an official account can cost shareholders billions of dollars;

Dennis Elakhovsky

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