How To Use ChatGPT To Become A Millionaire
How To Use ChatGPT - Here's how Artificial Intelligence is being used for investing in stocks and real estate, and what this could mean for the entire industry moving forward - Enjoy! Add me on Instagram: GPStephan
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The ChatGPT Fund:
All of this began with an article from CNN, claiming that “ChatGPT can pick stocks better than your fund manager." The article explained, between March 6 and April 28, “a dummy portfolio of 38 stocks gained 4.9% while 10 leading investment funds clocked an average loss of 0.8%.”
With this challenge, ChatGPT is given a simple prompt: “We are giving you a $50,000 investment account to put you to the test. Every Monday you will analyze and buy a new set of stocks, and we will sell 2 weeks later."
The entire concept is based on a research paper that successfully used ChatGPT to analyze which stock headlines were good, bad, or neutral for prices. From there, ChatGPT recorded which headlines yielded the largest movements after being published, based on a string of keywords - and, it found was that it was actually pretty good at predicting which stocks were going to fall the most.
Basically, this ChatGPT program found out that NEGATIVE articles yielded the largest, immediate moves in price (to the downside) and when you concentrate that information on smaller stocks, you had the potential for a higher upside if you shorted them.
At the end of the day, ChatGPT is looking for patterns based on past performance - and, with enough data at its disposal, it should - in theory - have enough information to be able to form an opinion on what’s MOST LIKELY going to happen. But if everyone gets those recommendations, ChatGPT could begin recommending ANYTHING, and it’ll go up - because more and more people are hanging on to its every word.
But, aside from that - you have the argument of the “Efficient Market Hypothesis,” which states that “when new information comes into the market, it is immediately reflected in stock prices and thus cannot generate excess returns.” So, if everyone has access to something while AI begins recommending the same stock to the entire planet, it no longer works.
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*Some of the links and other products that appear on this video are from companies which Graham Stephan will earn an affiliate commission or referral bonus. Graham Stephan receives cash compensation from Public for sponsored advertising materials. Graham Stephan is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. This is not investment advice. Public Offer valid for U.S. residents 18+ and subject to account approval. There may be other fees associated with trading. See Public.com/disclosures/
