Can a goldfish outperform the average investor when it comes to trading stocks?
A popular YouTube creator and tech enthusiast just made it his mission to find out.
Michael Reeves designed an automated system that turned his pet goldfish Frederick into a day trader.
He went big, giving the fish $50,000 to deploy into the market – and the results went viral.
At the opening bell, the goldfish was given a choice of two random stocks to select. Whichever side of the tank Frederick spent more time in determined which stock he favored.
Reeves used a custom-made tracking system to pinpoint the orange pixels of his little friend and automatically deploy capital into the market once his pet’s choice was clear.
But he realized Frederick needed some competition and decided to turn to WallStreetBets, the infamous group of meme traders who took the stock market by storm last year.
Reeves used sentiment analysis software to determine which stocks the most popular traders on WallStreetBets are bullish on and let the battle begin.
After three months of trading, Frederick swam his way to $1,007 in profit, while the meme traders lost a whopping $6,091.
Perhaps more remarkable is the fact that the fish also outperformed the Nasdaq by about 13%.
Although Reeves cautions that nothing in his video constitutes investment advice, he did pitch the project to a group of people with startup experience to see if they would bite.
But so far, they’re not taking the bait.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Sensvector/Jorm S
