Can Machine Learning Identify Future Outperform Active Equity Funds?

It seems that machine learning does not stand up to ranking the winners and losers. I do this with the monthly basket trading basket service listed below. Here is the summary:

A major benefit of artificial intelligence tools (such as machine learning) is that they have a great capacity to deal with massive amounts of data. But that also creates the risk that findings can be the result of “torturing the data until it confesses”—correlation doesn’t necessarily mean causation. Thus, it is critical that any findings should be supported by either risk- or behavioral-based explanations, and those findings should be persistent across economic regimes, pervasive across asset classes and regions, and survive transaction costs. In this case, the finding regarding momentum’s explanatory power is consistent with the literature 

https://alphaarchitect.com/2022/06/can-machine-learning-identify-future-outperforming-active-equity-funds/


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