None of this really means anything. For one if you test enough strategies one by luck will be killer. Second, past performance != future.
One AI might consist of some convulated strategy of who knows what, but all it takes in the end is for it to say...hold more tech stocks than not, or buying more call options or leveraged positions in a bull market, being more out of the market during a bearish market, etc. But that same strategy will fail miserably as soon as the market conditions change
yeah the alternative test is to arm a toddler with an account and just have it randomly guess what to do. Even it might outperform the best fund managers over a given timeframe but that's just how the markets work. Over the long run, the toddler will go bankrupt.
One AI might consist of some convulated strategy of who knows what, but all it takes in the end is for it to say...hold more tech stocks than not, or buying more call options or leveraged positions in a bull market, being more out of the market during a bearish market, etc. But that same strategy will fail miserably as soon as the market conditions change