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A Secretive Robot Is Helping Investment Firm Stripes Pick Winning Bets

Stripes has spent years teaching its robot to find what it thinks are the best private companies for its investment team to pursue.

Ken Fox, founder of Stripes
Ken Fox, founder of StripesSource: Business Wire/AP

The robot at Stripes enjoys reading. From the investment firm’s Manhattan offices, it consumes everything it can on the 13 million private companies it tracks. When it finds one it likes, about 0.006% of the time, human co-workers start the often years-long process of relationship building.

High frequency trading this isn’t. But the unusual marriage of algorithms and shoe leather has scored Stripes some big wins. Now, it’s getting closer to perfecting the art of not losing.