[Michael G.]

How will AI effect your investing, and if so, why should we
pay an adviser?

[raananh]

AI is extremely good advisor for novice investors: it will not try to scam you, it has unlimited patience to answer any question or doubt you have, and it will teach you basic investing and "how to" very well.

For more advanced investors, just like you can't trust a human "expert" advisor, you can't trust AI to make major decisions for you. Again, at least AI does not try to scam you or sell you expensive investments that profit AI, instead of you.

... until AI gets tweaked to promote certain investments ... for those who pay to have those investments to be promoted.

[spinner1001]

Originally Posted by Michael G.

How will AI effect your investing, and if so, why should we
pay an adviser?

AI will happily optimize your portfolio into a disaster with total confidence and zero liability.

[lkagele]

Originally Posted by raananh

AI is extremely good advisor for novice investors: it will not try to scam you, it has unlimited patience to answer any question or doubt you have, and it will teach you basic investing and "how to" very well.

For more advanced investors, just like you can't trust a human "expert" advisor, you can't trust AI to make major decisions for you. Again, at least AI does not try to scam you or sell you expensive investments that profit AI, instead of you.

... until AI gets tweaked to promote certain investments ... for those who pay to have those investments to be promoted.

Unless you're a genius, developing an AI portfolio is a fool's folly. You need an advisor/firm that has the resources necessary to develop an AI algorithm that meets your investments goals.

[SaucyJim]

Originally Posted by lkagele

Unless you're a genius, developing an AI portfolio is a fool's folly. You need an advisor/firm that has the resources necessary to develop an AI algorithm that meets your investments goals.

Hi. Genius here. LOL!!

I actually use AI extensively for my investing strategies beyond my income investments that provide me with security that make our social security checks a "nice to have" when each of us turns 70. I have developed a series of what I term PDD stacks (protocol, data, dev) so I can quickly roll my chats forward when one iteration gets it's own ideas and starts to hallucinate. I dump current data (and ideas for dev), use the protocol template to bootstrap a fresh chat, then load the data from the previous chat. This is fundamental to my success.

I've got a few strategies I developed (and continue to refine) and I'm adding new ones, but only when one strategy has been fully deployed. That means I am exercising the strategy in the real world and have built the systems to quickly ingest and report on the results so I can iterate or (of course) terminate failed strategies.

One of my strategies is called Dogs of the Day. It has evolved recently because data collected (from actual investments) showed that targeting a particular range of loss in a given day on the market was strikingly more successful than other loss ranges. These are short term investments that target positions with sudden price drops. But the criteria is more than "buy the loser" because "we" take into account a broad spectrum of other metrics, implement "watch dogs" in Trading View (including some Pine script stuff), then execute and set exit orders to both scale out my winners and allow for manually-managed runners (when the options pricing allows for a sufficient number of contracts based on my target position size).

That's one strategy.

But none of this is to replace my core portfolios. But those are also managed by ME because I like doing it myself. The day may come when I turn this all over to a "professional" but it will be like parking the Ferrari in the garage and letting them drive my AMC Pacer. LOL!!

Okay. I could go on. But coffee calls!

[rsmurano]

I just tried using googles ai for stocks. Worthless! 1 of the stocks it recommended was a stock that went from $400 to $100, good move. Now I don’t know how long they have been recommending this stock, but if it’s been for a while, bad pick, but if they think this stock might start going up, still not a good pick IMO.

[BrianL99]

To suggest that AI isn't smarter than most of the so-called "Investment Advisors" out in the wild world, is simply folly and denial of the computer world's progress.

That said, as with dealing with an investment advisor, one has to use some common sense, discretion and decide what's right for their personal situation.

[CoachKandSportsguy]

Originally Posted by SaucyJim

Hi. Genius here. LOL!!

I actually use AI extensively for my investing strategies beyond my income investments that provide me with security that make our social security checks a "nice to have" when each of us turns 70. I have developed a series of what I term PDD stacks (protocol, data, dev) so I can quickly roll my chats forward when one iteration gets it's own ideas and starts to hallucinate. I dump current data (and ideas for dev), use the protocol template to bootstrap a fresh chat, then load the data from the previous chat. This is fundamental to my success.

I've got a few strategies I developed (and continue to refine) and I'm adding new ones, but only when one strategy has been fully deployed. That means I am exercising the strategy in the real world and have built the systems to quickly ingest and report on the results so I can iterate or (of course) terminate failed strategies.

One of my strategies is called Dogs of the Day. It has evolved recently because data collected (from actual investments) showed that targeting a particular range of loss in a given day on the market was strikingly more successful than other loss ranges. These are short term investments that target positions with sudden price drops. But the criteria is more than "buy the loser" because "we" take into account a broad spectrum of other metrics, implement "watch dogs" in Trading View (including some Pine script stuff), then execute and set exit orders to both scale out my winners and allow for manually-managed runners (when the options pricing allows for a sufficient number of contracts based on my target position size).

That's one strategy.

But none of this is to replace my core portfolios. But those are also managed by ME because I like doing it myself. The day may come when I turn this all over to a "professional" but it will be like parking the Ferrari in the garage and letting them drive my AMC Pacer. LOL!!

Okay. I could go on. But coffee calls!

That is a mean reversion strategy, which can be useful when it works, but doesn't always work. So with any strategy, the risk is always the back tested maximum drawdown. So with that statistic, what has your AI portfolio backtested maximum drawdown been? the curious want to know.

[jimjamuser]

Originally Posted by SaucyJim

Hi. Genius here. LOL!!

I actually use AI extensively for my investing strategies beyond my income investments that provide me with security that make our social security checks a "nice to have" when each of us turns 70. I have developed a series of what I term PDD stacks (protocol, data, dev) so I can quickly roll my chats forward when one iteration gets it's own ideas and starts to hallucinate. I dump current data (and ideas for dev), use the protocol template to bootstrap a fresh chat, then load the data from the previous chat. This is fundamental to my success.

I've got a few strategies I developed (and continue to refine) and I'm adding new ones, but only when one strategy has been fully deployed. That means I am exercising the strategy in the real world and have built the systems to quickly ingest and report on the results so I can iterate or (of course) terminate failed strategies.

One of my strategies is called Dogs of the Day. It has evolved recently because data collected (from actual investments) showed that targeting a particular range of loss in a given day on the market was strikingly more successful than other loss ranges. These are short term investments that target positions with sudden price drops. But the criteria is more than "buy the loser" because "we" take into account a broad spectrum of other metrics, implement "watch dogs" in Trading View (including some Pine script stuff), then execute and set exit orders to both scale out my winners and allow for manually-managed runners (when the options pricing allows for a sufficient number of contracts based on my target position size).

That's one strategy.

But none of this is to replace my core portfolios. But those are also managed by ME because I like doing it myself. The day may come when I turn this all over to a "professional" but it will be like parking the Ferrari in the garage and letting them drive my AMC Pacer. LOL!!

Okay. I could go on. But coffee calls!

Another reason to like coffee.

[RickyLee]

Originally Posted by Michael G.

How will AI effect your investing, and if so, why should we
pay an adviser?

Few months back when I decided to retire, and bring my 401 into the IRA world at my brokerage house, I did some extensive work with my girlfriend, (AI), I put in my thoughts and desires and plugged in some numbers. She came back with a strategy that when I went and sat down at The brokerage house was surprisingly similar to their suggestions. I have my own way of doing things, and implemented things my way but did take into consideration suggestions from the advisor and from my girlfriend. I would never bet the farm on either one, but to my surprise, they both feel like I have a pretty solid plan, and with no pension, living off of SS & my investments & staying vigilant has worked out so far.

[rsmurano]

No advisor is going to get you into money making stocks/funds unless it’s a hedge fund mgr. Why settle for 10% returns or 5% dividends with mediocre growth. My buddy brought up to his advisor 1 of the stocks I told him to invest in that went up 800% in the last year. His advisor just brushed it off and went with a mediocre stock.
I’m betting the advisor went home and looked at this stock if not used his own money to buy into.
I did do some more playing around with ai and using the right wording, it did come up with a couple of my stocks that went up 800+%, so if you word it right, even ai can come up with something. But, I would use the same type of logic in my brokers website to research a stock

[Justputt]

Originally Posted by Michael G.

How will AI effect your investing, and if so, why should we
pay an adviser?

There are many articles about garbage coming out of AI, complete with fictional sources!!! I'd take a hard pass on using for anything other than curiosity. Maybe use it as a FIRST blush at a sector, etc., but do NOT treat it as reliable. IMO

[CoachKandSportsguy]

Originally Posted by Justputt

There are many articles about garbage coming out of AI, complete with fictional sources!!! I'd take a hard pass on using for anything other than curiosity. Maybe use it as a FIRST blush at a sector, etc., but do NOT treat it as reliable. IMO

with the free public version, absolutely correct.

with the paid version, much better results. . .

[Michael G.]

Originally Posted by CoachKandSportsguy

with the free public version, absolutely correct.

with the paid version, much better results. . .

I still wouldn't trust it 100%

[BrianL99]

Originally Posted by Michael G.

I still wouldn't trust it 100%

Please name an unrelated someone or something you trust 100%?