arXiv AI By Bryan Kelly, Semyon Malamud, Johannes Schwab, Teng Andrea Xu

Scaling Point-in-Time Language Models

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arXiv:2607. 11889v1 Announce Type: cross Abstract: Large language models trained on unrestricted internet corpora inevitably embed information from the future, introducing lookahead bias that compromises the validity of backtests and causal inference in finance and the social sciences.

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