Signal or Noise in Multi-Agent LLM-based Stock Recommendations?
We present the first portfolio-level validation of MarketSenseAI, a deployed multi-agent LLM equity system. All signals are generated live at each observation date, eliminating look-ahead bias. The system routes four specialist agents (News, Fundamentals, Dynamics, and Macro) through a synthesis agent that issues a monthly equity thesis and recommendation for each stock in its coverage universe, and we ask two questions: do its buy recommendations add value over both passive benchmarks and random selection, and what does the internal agent structure reveal about the source of the edge? On the S&P 500 cohort (19 months) the strong-buy equal-weight portfolio earns +2.18%/month against a pas...
| Authors | George Fatouros, Kostas Metaxas |
|---|---|
| Primary category | q-fin.PM |
| Published | 19 April 2026 |
| Last updated at source | 19 April 2026 |
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