Matt Tuttle doesn’t play by Wall Street’s rules—he rewrites them. The CEO and CIO of Tuttle Capital Management has built his career challenging convention, from creating the headline-grabbing Inverse Cramer ETF to designing the H.E.A.T. Formula—Hedge, Edge, Asymmetry, and Themes—a framework for finding opportunity where others see risk. His latest whitepaper, AI, Active Management, and the End of Alpha, captures the next evolution of his contrarian philosophy: the fusion of human insight and machine intelligence.
In the piece, Tuttle argues that traditional active management is already obsolete in the era of instant data and machine learning. “Information asymmetry is gone,” he writes, “and with it, the old sources of alpha.” Instead, AI is enabling a new generation of managers to design forward-looking, continuously adaptive strategies—a shift from static portfolio rules to dynamic intelligence systems that learn in real time.
Tuttle’s H.E.A.T. Formula, first introduced at the 2025 Big Sky AI Forum, embodies this approach. By integrating AI across research, indexing, and wealth management, Tuttle Capital is building an ecosystem that bridges human adaptability with machine precision. The result: transparent, predictive frameworks that replace guesswork with governed learning loops.
“AI will be transformational for the better,” Tuttle says. “It will eliminate conflicts of interest and bias—but it will also redefine what skill means in finance.”
Produced in partnership with Digital Wealth News and AI & Finance, this whitepaper explores how AI is not ending alpha—it’s reinventing it.
Download the full whitepaper below and see how Tuttle Capital is turning intelligence itself into the new currency of investing.
