Finance
This ETF uses ChatGPT to invest like Warren Buffett
A new fund is using AI to replicate some of the greatest investing minds in history in the hopes of supercharging client portfolios.
The Intelligent Livermore exchange-traded fund (LIVR), created by fintech startup Intelligent Alpha, uses OpenAI’s ChatGPT, Anthropic’s Claude, and Google’s Gemini to create a collection of securities, with a little help from humans. To put the portfolio together, human beings will feed the “committee” of LLMs a barrage of publicly available financial information combined with specific investment philosophies for the AI to follow. A strategy might focus on value over growth, for instance.
The ETF, which was named after famed 20th century stock trader Jesse Livermore, created its unique investing strategy by combining financial information with the public letters, interviews, and statements from other finance legends like Berkshire Hathaway’s Warren Buffett, as well as billionaire hedge fund managers Stanley Druckenmiller and David Tepper, among others, Intelligent Alpha CEO Doug Clinton told Fortune. And although humans actually execute the trades to avoid any hallucinations or errors, Clinton said it’s really the AI investors calling the shots.
“They can sort of replicate or pretend to be any investor. That’s one of the superpowers of AI,” Clinton said. “You could have it be a super aggressive growth investor, or you could have it be a super value conscious Buffett acolyte.”
The ETF, which started trading Wednesday, counts Meta, Nvidia, and TSMC among its top holdings and has an expense ratio of 0.69%.
Before launching Intelligent Alpha, Clinton experimented first with ChatGPT, and later with other AI chatbots, to try to build a portfolio that could outperform the S&P 500. Although the LIVR ETF is the company’s first, Clinton said it intends to create a suite of AI-centered investment products aimed at both institutional and retail investors, with the goal of reaching $1 trillion in assets under management.
“We want to build the AI-powered BlackRock,” he said.
Still, for now, Clinton is the startup’s only employee, and at the same time he’s still working as an investor at Deepwater Asset Management, the Minneapolis-based investment firm he helped launch in 2017. Deepwater has an equity stake in Intelligent Alpha and supports the company. Although his company is a one-person show, Clinton said he’s not worried.
“The power of AI is its ability to augment human productivity, and Intelligent Alpha is a testament to that,” he said in an email.
Intelligent Alpha has already filed four other ETF applications with the Securities and Exchange Commission, and Clinton estimated that the company would launch more funds by the end of the year or early 2025.
Although hedge funds have already started to incorporate AI into their work, Clinton said Intelligent Alpha is among the first to use AI as “a true stock picker.” To stay ahead of the competition, he said he is working at a breakneck pace to innovate.
Ultimately, Clinton believes the next shift in the financial world will be to AI-centered funds like LIVR, especially because this type of investing has advantages over both active and passive investing.
“It’s a little bit more intelligent than just static indexes, and it’s less emotional than the humans on the active side. So I think it’s kind of the best of all worlds,” he said.
Finance
One.funding and MV Commercial launch MV Asset Finance
One.funding has partnered with UK-based MV Commercial to introduce MV Asset Finance, which offers an alternative method for MV Commercial’s customers to secure finance, according to a LinkedIn post.
In developing MV Asset Finance, representatives from One.funding worked closely with MV Commercial’s team to better understand business priorities and the requirements of their customer base.
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According to the post, the service aims to remove friction, ensure complete transparency, and enable a seamless process from initial engagement to completion by integrating support within MV Commercial’s operations and presenting it under their brand.
MV Commercial supplies fleet solutions for vehicles within the UK.
The company’s offerings include trucks, trailers, and light commercial vehicles that are available for sale, rental, or contract hire.
Its current rental and Ready to Go fleets consist of 2,000 specialist trucks, vans, and trailers across various depots in Airdrie, Grantham, Livingston, Oxford, Haydock, and London Luton.
One.funding CEO Lee Schofield said: “At One.funding, we’ve 20 years of experience in building point-of-sale finance that fits naturally into how businesses sell. MV Asset Finance shows what’s possible when that experience is embedded into the MV Commercial journey, making it easier for their customers to keep moving and keep growing.”
A recent example involved AMK Plant & Tipper Hire, which added a DAF FAD XD450 Construction eight-by-four tipper truck to its fleet, the company’s first DAF tipper purchase.
The transaction was finalised in three weeks; MV Commercial supplied the vehicle while financing was arranged through the newly launched MV Asset Finance framework.
Finance
RFSD board approves financial assurances, reviews annual audit
The Roaring Fork School District Board of Education approved its annual financial accreditation assurances and reviewed the district’s 2024-25 audited financial statements during its meeting on Wednesday, according to a district news release.
The audit, presented by McMahan and Associates, found the district’s overall financial position to be stable and identified areas for continued improvement in internal controls and financial processes. The district’s General Fund balance remains above minimum levels required by board policy.
Chief Financial Officer Christy Chicoine said the audit reflects progress following prior concerns identified in earlier reviews.
“We have made significant improvements compared to the prior year’s audit as a Finance Department, and I am grateful for the finance team’s commitment towards those improvements as demonstrated in this audit,” Chicoine said. “While we still have work to do to continue to sustain and enhance the district’s fiscal management, the audit report indicates we are clearly headed in the right direction.”
Superintendent Anna Cole said the findings validate work undertaken over the past two years to rebuild internal systems and improve transparency.
“Over the past two years, our teams have worked diligently and transparently to rebuild internal financial systems that left the district at risk,” Cole said. “The outcomes of this audit are evidence that we are on track.”
Cole said the timing of the audit is significant as the district begins developing its budget for the 2026-27 school year and faces mounting external pressures.
“We couldn’t have stabilized internal systems at a better time,” she said. “As we begin the budgeting process for the 26/27 school year, we face external challenges like declining enrollment, instability of state and federal funding, and a rising cost of living that is outpacing staff and teacher salaries. This audit is an important confirmation that our finances are in order as we prepare to navigate oncoming challenges.”
Board President Lindsay DeFrates said the board is better positioned to plan ahead following the audit’s conclusions.
“We are grateful for the leadership of Chief Chicoine and the hard work of the district finance and human resources teams,” DeFrates said. “We are now in a much better place financially and will move forward with clarity, transparency and accountability, able to better navigate the challenges to come.”
Finance
UK’s Former Finance Minister George Osborne Joins Coinbase – Coinspeaker
Key Notes
- Former UK finance minister George Osborne is joining Coinbase’s Global Advisory Council.
- Osborne will focus on crypto regulation, stablecoins, and tokenized assets across the UK and EU.
- The exchange is also expanding beyond crypto trading as it steps into 2026.
Coinbase has appointed former UK finance minister George Osborne as chair of its Global Advisory Council. It is clear that the American crypto exchange wants to deepen its influence with governments outside the United States.
Earlier this week, Coinbase tested the waters in India as its deal to acquire a minority stake in local crypto trading platform CoinDCX was approved by the Competition Commission of India.
https://twitter.com/CCI_India/status/2000905244080034292
Coinbase Expands Policy Reach Beyond the US
Coinbase confirmed that Osborne will take a more active role in advising on government engagement worldwide, with a focus on Britain and the European Union.
Osborne, who first joined Coinbase as an adviser in January 2024, will be based in London. He will work closely with policymakers on issues related to crypto regulation, stablecoins, and tokenized assets.
Coinbase’s chief policy officer Faryar Shirzad said the crypto exchange has already become a powerful lobbying force outside the US. In the UK, the company is pushing for clearer rules on tax treatment, stablecoin payments, and the use of tokenized assets in capital markets.
Osborne’s Background
Osborne served as the UK’s finance minister from 2010 until 2016, stepping down after the Brexit referendum. Since leaving politics, he has built a broad private-sector portfolio.
He currently chairs the British Museum, is a partner at investment bank Robey Warshaw, and leads Lingotto Investment Management.
Just days before the Coinbase announcement, OpenAI named Osborne to support its overseas data centre expansion under its global infrastructure program. His appointment to Coinbase adds crypto and blockchain policy to an already wide-ranging list of responsibilities.
Expansion Across Crypto
According to an earlier report, at its recent System Update event, Coinbase revealed plans to expand into stock trading, prediction markets, custom stablecoins, tokenization platforms, and AI-powered investment advisers.
Coinbase has already launched stock trading and prediction markets on its platform and now rivals firms such as Robinhood and eToro. The exchange has also partnered with Kalshi to offer markets tied to real-world events such as sports, elections, and economic data.
The exchange’s long-term goal is to become an all-in-one financial platform that operates around the clock.
Meanwhile, Deutsche Bank recently initiated coverage with a buy rating, according to CNBC. Analysts expect the company’s broader new everything-in-one strategy to reduce its dependence on crypto trading volumes as it scales into 2026.
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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.
Parth Dubey on LinkedIn
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