What if artificial intelligence could outperform seasoned financial analysts on the world’s toughest investment exams?

In this episode, we dive into the stunning turnaround of "reasoning models"—like GPT-5 and Gemini 3.0 Pro—which have moved from failing the Chartered Financial Analyst (CFA) exams to achieving near-perfect scores. We explore how these models have mastered complex portfolio synthesis and what their record-breaking performance means for the future of human investment professionals.

Inspired by the work of Jaisal Patel, Yunzhe Chen, and colleagues, this episode was created using Google’s NotebookLM.

Read the original paper here: https://arxiv.org/pdf/2512.08270v1