Jin Xu

Xiangyu Li, Xinjie Shen, Yawen Zeng et al.

The task of stock earnings forecasting has received considerable attention due to the demand investors in real-world scenarios. However, compared with financial institutions, it is not easy for ordinary investors to mine factors and analyze news. On the other hand, although large language models in the financial field can serve users in the form of dialogue robots, it still requires users to have financial knowledge to ask reasonable questions. To serve the user experience, we aim to build an automatic system, FinReport, for ordinary investors to collect information, analyze it, and generate reports after summarizing. Specifically, our FinReport is based on financial news announcements and a multi-factor model to ensure the professionalism of the report. The FinReport consists of three modules: news factorization module, return forecasting module, risk assessment module. The news factorization module involves understanding news information and combining it with stock factors, the return forecasting module aim to analysis the impact of news on market sentiment, and the risk assessment module is adopted to control investment risk. Extensive experiments on real-world datasets have well verified the effectiveness and explainability of our proposed FinReport. Our codes and datasets are available at https://github.com/frinkleko/FinReport.

Xiangyu Li, Yawen Zeng, Xiaofen Xing et al.

As automated trading gains traction in the financial market, algorithmic investment strategies are increasingly prominent. While Large Language Models (LLMs) and Agent-based models exhibit promising potential in real-time market analysis and trading decisions, they still experience a significant -20% loss when confronted with rapid declines or frequent fluctuations, impeding their practical application. Hence, there is an imperative to explore a more robust and resilient framework. This paper introduces an innovative multi-agent system, HedgeAgents, aimed at bolstering system robustness via ``hedging'' strategies. In this well-balanced system, an array of hedging agents has been tailored, where HedgeAgents consist of a central fund manager and multiple hedging experts specializing in various financial asset classes. These agents leverage LLMs' cognitive capabilities to make decisions and coordinate through three types of conferences. Benefiting from the powerful understanding of LLMs, our HedgeAgents attained a 70% annualized return and a 400% total return over a period of 3 years. Moreover, we have observed with delight that HedgeAgents can even formulate investment experience comparable to those of human experts (https://hedgeagents.github.io/).

Xiangyu Li, Yawen Zeng, Xiaofen Xing et al.

In this paper, our objective is to develop a multi-agent financial system that incorporates simulated trading, a technique extensively utilized by financial professionals. While current LLM-based agent models demonstrate competitive performance, they still exhibit significant deviations from real-world fund companies. A critical distinction lies in the agents' reliance on ``post-reflection'', particularly in response to adverse outcomes, but lack a distinctly human capability: long-term prediction of future trends. Therefore, we introduce QuantAgents, a multi-agent system integrating simulated trading, to comprehensively evaluate various investment strategies and market scenarios without assuming actual risks. Specifically, QuantAgents comprises four agents: a simulated trading analyst, a risk control analyst, a market news analyst, and a manager, who collaborate through several meetings. Moreover, our system incentivizes agents to receive feedback on two fronts: performance in real-world markets and predictive accuracy in simulated trading. Extensive experiments demonstrate that our framework excels across all metrics, yielding an overall return of nearly 300% over the three years (https://quantagents.github.io/).