One Bank Picked World Cup Winners
Several investment banks predicted that Germany, Brazil or Spain were nailed on to lift this year's World Cup. But only one got it right.
Despite harnessing their most advanced technological resources, banking giants Goldman Sachs and UBS were embarrassed when their picks Brazil and Germany crashed out before even reaching the World Cup semi-finals. An Asian-based bank, Nomura was the only one to correctly predict the French win, «Bloomberg» reports.
The Japanese bank applied the theory of balanced risk to predict its world cup finals teams: France and Spain. Nomura said it made predictions based on the value of players in each team, momentum of team performance and historical achievements.
Consistently Wrong
Swiss bank UBS enlisted its number-crunchers to devise elaborate computer programs using game data and algorithms in order to forecast the likely winner with the help of statistical methods. Their choice Germany, didn't make it past the group stages.
Goldman Sachs' macro research team, used artificial intelligence algorithms to predict a Brazil and Germany final. The U.S. investment bank had predicted a Brazilian victory for the last three World Cups, but has been wrong every single time.
