Time Travel is Cheating: Going Live with DeepFund for Real-Time Fund Investment Benchmarking

Large Language Models (LLMs) have demonstrated notable capabilities across financial tasks, including financial report summarization, earnings call transcript analysis, and asset classification. However, their real-world effectiveness in managing complex fund investment remains inadequately assessed. A fundamental limitation of existing benchmarks for evaluating LLM-driven trading strategies is their reliance on historical back-testing, inadvertently enabling LLMs to "time travel"-leveraging future information embedded in their training corpora, thus resulting in possible information leakage and overly optimistic performance estimates. To address this issue, we introduce DeepFund, a live fund benchmark tool designed to rigorously evaluate LLM in real-time market conditions. Utilizing a multi-agent architecture, DeepFund connects directly with real-time stock market data-specifically data published after each model pretraining cutoff-to ensure fair and leakage-free evaluations. Empirical tests on nine flagship LLMs from leading global institutions across multiple investment dimensions-including ticker-level analysis, investment decision-making, portfolio management, and risk control-reveal significant practical challenges. Notably, even cutting-edge models such as DeepSeek-V3 and Claude-3.7-Sonnet incur net trading losses within DeepFund real-time evaluation environment, underscoring the present limitations of LLMs for active fund management. Our code is available at https://github.com/HKUSTDial/DeepFund.

AdaCo: Overcoming Visual Foundation Model Noise in 3D Semantic Segmentation via Adaptive Label Correction

Recently, Visual Foundation Models (VFMs) have shown a remarkable generalization performance in 3D perception tasks. However, their effectiveness in large-scale outdoor datasets remains constrained by the scarcity of accurate supervision signals, the extensive noise caused by variable outdoor conditions, and the abundance of unknown objects. In this work, we propose a novel label-free learning method, Adaptive Label Correction (AdaCo), for 3D semantic segmentation. AdaCo first introduces the Cross-modal Label Generation Module (CLGM), providing cross-modal supervision with the formidable interpretive capabilities of the VFMs. Subsequently, AdaCo incorporates the Adaptive Noise Corrector (ANC), updating and adjusting the noisy samples within this supervision iteratively during training. Moreover, we develop an Adaptive Robust Loss (ARL) function to modulate each sample's sensitivity to noisy supervision, preventing potential underfitting issues associated with robust loss. Our proposed AdaCo can effectively mitigate the performance limitations of label-free learning networks in 3D semantic segmentation tasks. Extensive experiments on two outdoor benchmark datasets highlight the superior performance of our method.

Character-level Convolutional Network for Text Classification Applied to Chinese Corpus

This article provides an interesting exploration of character-level convolutional neural network solving Chinese corpus text classification problem. We constructed a large-scale Chinese language dataset, and the result shows that character-level convolutional neural network works better on Chinese corpus than its corresponding pinyin format dataset. This is the first time that character-level convolutional neural network applied to text classification problem.