---
title: Reading the News Without Hindsight: NoLBERT Topics and the Cross-Section of Stock Returns
url: https://www.ml-quant.com/papers/ssrn/7617420/
site: ML-Quant (https://www.ml-quant.com)
updated: 2026-10-16
license: Summaries CC BY 4.0; links go to the original sources
index: https://www.ml-quant.com/llms.txt
identifier: SSRN 7617420
source_url: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=7617420
featured: 2026-10-16
citations: unknown
topic: LLMs & Text
---


# Reading the News Without Hindsight: NoLBERT Topics and the Cross-Section of Stock Returns

A news reader trained only on pre-1995 text produces stable topics but earns 1.12 monthly Sharpe via ensemble with other readers, significant before multiple-testing adjustment.

- Source: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=7617420
- Identifier: SSRN 7617420
- Released: 2026-10-16
- First featured: Quant Letter No. 135 (2026-10-16): https://www.ml-quant.com/issues/2026-10-16/
- Citations (Semantic Scholar): not tracked
- Published in: not yet
- Topic: LLMs & Text
- Authors: Shivesh Prakash, Kevin Foley, Swapnil Vatsal, Jonathan Hartadi, Charishma Takkallapalli

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