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Large language models (LLMs) have demonstrated promising performance in various financial applications, though their potential in complex investment strategies remains underexplored. To address this gap, we investigate how LLMs can predict…

Computational Engineering, Finance, and Science · Computer Science 2024-12-02 Yoshia Abe , Shuhei Matsuo , Ryoma Kondo , Ryohei Hisano

Large language models are reshaping quantitative investing by turning unstructured financial information into evidence-grounded signals and executable decisions. This survey synthesizes research with a focus on equity return prediction and…

Portfolio Management · Quantitative Finance 2025-10-08 Weilong Fu

Chemical process optimization maximizes production efficiency and economic performance, but optimization algorithms, including gradient-based solvers, numerical methods, and parameter grid searches, become impractical when operating…

Machine Learning · Computer Science 2025-10-17 Tong Zeng , Srivathsan Badrinarayanan , Janghoon Ock , Cheng-Kai Lai , Amir Barati Farimani

Recent advancements in Large Language Models (LLMs) have exhibited notable efficacy in question-answering (QA) tasks across diverse domains. Their prowess in integrating extensive web knowledge has fueled interest in developing LLM-based…

Computational Finance · Quantitative Finance 2023-12-05 Yangyang Yu , Haohang Li , Zhi Chen , Yuechen Jiang , Yang Li , Denghui Zhang , Rong Liu , Jordan W. Suchow , Khaldoun Khashanah

This paper explores a top-down approach to automating incremental advances in machine learning research through component-level innovation, facilitated by Large Language Models (LLMs). Our framework systematically generates novel…

Machine Learning · Computer Science 2024-09-10 Shervin Ardeshir

In the modern financial sector, the exponential growth of data has made efficient and accurate financial data analysis increasingly crucial. Traditional methods, such as statistical analysis and rule-based systems, often struggle to process…

Statistical Finance · Quantitative Finance 2025-04-10 Jingru Wang , Wen Ding , Xiaotong Zhu

LLM agents are promising tools for empirical discovery, but their flexibility can also turn discovery into uncontrolled search. We study how to use agents under a reproducible protocol through cryptocurrency factor discovery. Our framework…

Portfolio Management · Quantitative Finance 2026-04-30 Yikuan Huang , Zheqi Fan , Kaiqi Hu , Yifan Ye

This paper presents a realistic simulated stock market where large language models (LLMs) act as heterogeneous competing trading agents. The open-source framework incorporates a persistent order book with market and limit orders, partial…

Computational Finance · Quantitative Finance 2025-04-16 Alejandro Lopez-Lira

Multi-agent Large Language Model (LLM) systems have been leading the way in applied LLM research across a number of fields. One notable area is software development, where researchers have advanced the automation of code implementation,…

Software Engineering · Computer Science 2025-11-25 Vali Tawosi , Keshav Ramani , Salwa Alamir , Xiaomo Liu

Financial institutions of all sizes are increasingly adopting Large Language Models (LLMs) to enhance credit assessments, deliver personalized client advisory services, and automate various language-intensive processes. However, effectively…

Computational Engineering, Finance, and Science · Computer Science 2025-04-04 Ahmadreza Tavasoli , Maedeh Sharbaf , Seyed Mohamad Madani

Large language models (LLMs) achieve strong performance across benchmarks--from knowledge quizzes and math reasoning to web-agent tasks--but these tests occur in static settings, lacking real dynamics and uncertainty. Consequently, they…

Trading and Market Microstructure · Quantitative Finance 2025-11-06 Haofei Yu , Fenghai Li , Jiaxuan You

Recent advances in large language models (LLMs) have opened new possibilities for artificial intelligence applications in finance. In this paper, we provide a practical survey focused on two key aspects of utilizing LLMs for financial…

General Finance · Quantitative Finance 2024-07-10 Yinheng Li , Shaofei Wang , Han Ding , Hang Chen

Quantitative investment is a fundamental financial task that highly relies on accurate stock prediction and profitable investment decision making. Despite recent advances in deep learning (DL) have shown stellar performance on capturing…

Trading and Market Microstructure · Quantitative Finance 2022-07-18 Shuo Sun , Rundong Wang , Bo An

This paper focuses on extending the success of large language models (LLMs) to sequential decision making. Existing efforts either (i) re-train or finetune LLMs for decision making, or (ii) design prompts for pretrained LLMs. The former…

Machine Learning · Computer Science 2025-06-17 Dingyang Chen , Qi Zhang , Yinglun Zhu

The task of financial analysis primarily encompasses two key areas: stock trend prediction and the corresponding financial question answering. Currently, machine learning and deep learning algorithms (ML&DL) have been widely applied for…

Computation and Language · Computer Science 2024-03-20 Xiang Li , Zhenyu Li , Chen Shi , Yong Xu , Qing Du , Mingkui Tan , Jun Huang , Wei Lin

This paper investigates whether large language models (LLMs) can improve cross-sectional momentum strategies by extracting predictive signals from firm-specific news. We combine daily U.S. equity returns for S&P 500 constituents with…

Portfolio Management · Quantitative Finance 2025-10-31 Nikolas Anic , Andrea Barbon , Ralf Seiz , Carlo Zarattini

The multi-factor model is a widely used model in quantitative investment. The success of a multi-factor model is largely determined by the effectiveness of the alpha factors used in the model. This paper proposes a new evolutionary…

Computational Finance · Quantitative Finance 2020-04-07 Tianping Zhang , Yuanqi Li , Yifei Jin , Jian Li

The application of LLM-based agents in financial investment has shown significant promise, yet existing approaches often require intermediate steps like predicting individual stock movements or rely on predefined, static workflows. These…

Artificial Intelligence · Computer Science 2025-09-26 Taian Guo , Haiyang Shen , JinSheng Huang , Zhengyang Mao , Junyu Luo , Binqi Chen , Zhuoru Chen , Luchen Liu , Bingyu Xia , Xuhui Liu , Yun Ma , Ming Zhang

This paper introduces Agent-Based Auto Research, a structured multi-agent framework designed to automate, coordinate, and optimize the full lifecycle of scientific research. Leveraging the capabilities of large language models (LLMs) and…

We attempt to mitigate the persistent tradeoff between risk and return in medium- to long-term portfolio management. This paper proposes a novel LLM-guided no-regret portfolio allocation framework that integrates online learning dynamics,…

Portfolio Management · Quantitative Finance 2026-01-27 Muhammad Abro , Hassan Jaleel