DatedGPT: Preventing Lookahead Bias in Large Language Models with Time-Aware Pretraining

In financial backtesting, large language models pretrained on internet-scale data risk introducing lookahead bias that undermines their forecasting validity, as they may have already seen the true outcome during training. To address this, we present DatedGPT, a family of twelve 1.3B-parameter language models, each trained from scratch on approximately 100 billion tokens of temporally partitioned data with strict annual cutoffs spanning 2013 to 2024. We further enhance each model with instruction fine-tuning on both general-domain and finance-specific datasets curated to respect the same temporal boundaries. Perplexity-based probing confirms that each model's knowledge is effectively bounded by its data cutoff year, while evaluation on standard benchmarks shows competitive performance with existing models of similar scale. We provide an interactive web demo that allows users to query and compare responses from models across different cutoff years.

A Test of Lookahead Bias in LLM Forecasts

We develop a statistical test to detect lookahead bias in economic forecasts generated by large language models (LLMs). Using state-of-the-art pre-training data detection techniques, we estimate the likelihood that a given prompt appeared in an LLM's training corpus, a statistic we term Lookahead Propensity (LAP). We formally show that a positive correlation between LAP and forecast accuracy indicates the presence and magnitude of lookahead bias, and apply the test to two forecasting tasks: news headlines predicting stock returns and earnings call transcripts predicting capital expenditures. Our test provides a cost-efficient, diagnostic tool for assessing the validity and reliability of LLM-generated forecasts.

Two-stage breast mass detection and segmentation system towards automated high-resolution full mammogram analysis

Mammography is the primary imaging modality used for early detection and diagnosis of breast cancer. Mammography analysis mainly refers to the extraction of regions of interest around tumors, followed by a segmentation step, which is essential to further classification of benign or malignant tumors. Breast masses are the most important findings among breast abnormalities. However, manual delineation of masses from native mammogram is a time consuming and error-prone task. An integrated computer-aided diagnosis system to assist radiologists in automatically detecting and segmenting breast masses is therefore in urgent need. We propose a fully-automated approach that guides accurate mass segmentation from full mammograms at high resolution through a detection stage. First, mass detection is performed by an efficient deep learning approach, You-Only-Look-Once, extended by integrating multi-scale predictions to improve automatic candidate selection. Second, a convolutional encoder-decoder network using nested and dense skip connections is employed to fine-delineate candidate masses. Unlike most previous studies based on segmentation from regions, our framework handles mass segmentation from native full mammograms without user intervention. Trained on INbreast and DDSM-CBIS public datasets, the pipeline achieves an overall average Dice of 80.44% on high-resolution INbreast test images, outperforming state-of-the-art methods. Our system shows promising accuracy as an automatic full-image mass segmentation system. The comprehensive evaluation provided for both detection and segmentation stages reveals strong robustness to the diversity of size, shape and appearance of breast masses, towards better computer-aided diagnosis.