AI RESEARCH
The Alpha Illusion: Reported Alpha from LLM Trading Agents Should Not Be Treated as Deployment Evidence
arXiv CS.CL
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ArXi:2605.16895v1 Announce Type: cross End-to-end LLM trading agents have moved quickly from research curiosity to a small ecosystem of named systems, including FinCon, FinMem, TradingAgents, FinAgent, QuantAgent, and FLAG-Trader. Several of these report headline Sharpe ratios that would be material if read at face value on a deployment desk, and associated benchmarks such as FinBen report trading-task Sharpe statistics in the same range. The gap between architecture research and deployment claim has been crossed too freely on both sides of the academia--industry divide.