I asked an AI chatbot about investing — I was surprised by the answer

You may have seen news about ChatGPT, a “chatbot” developed by the developers of OpenAI. It’s newsworthy because it uses artificial intelligence (AI) and is designed to interact with people in a conversational way.

I thought I’d ask about the investment to see how good it was. The experience was spectacular and amazing. Please confirm if you agree.

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questions and answers

Below are some of the questions I asked the chatbot, along with their answers and explanations.

What are the best personality traits for stock investing?

The best personality traits for stock investing include perseverance, discipline, and an aptitude for research. In addition, it is important to be accustomed to taking calculated risks, to have the ability to think critically and objectively, and to remain objective and calm during uncertain times.

This is actually a pretty good answer! That said, I’d also like to add that if that’s not possible, you can effectively build wealth simply by investing regularly in low-fee index funds over many years. I will explain. I don’t want anyone to think that getting rich in stocks is hard work.

Which is better, growth stocks or value stocks?

The answer to this question depends on your individual financial goals and risk tolerance. Growth stocks are typically characterized by higher risk, but can also offer higher returns. Value stocks, on the other hand, tend to be less risky, but can also offer lower returns. It’s important to do your research and talk to your financial advisor to determine which type of stock is best for you.

This answer is also mostly correct, but does not point out that there may be stocks that have characteristics of both growth and value stocks. In other words, they can be growing quite vigorously and sometimes even underestimated. Amazon.co.jp,for example, meta platform Both are considered underrated by many.

While many people find it helpful to encourage them to consult with a financial advisor, it is not necessary for everyone.

What are the characteristics of good companies?

Good companies typically have strong financial fundamentals, competitive market positions, and long-term growth strategies. Additionally, a great company needs a strong management team, clear financial goals, and a culture of innovation and customer service.

This is also a pretty good answer, but it doesn’t mention that it’s best for a company to have one or more sustainable competitive advantages, such as a strong brand, proprietary technology, or economies of scale.

Also, different types of companies appeal to different investors. For some, great companies aim for rapid growth while constantly innovating. Therefore, we may not pay dividends. Other investors may prefer better-established, slower-growing companies with more predictable earnings and dividend payouts.

Best investment advice for 2023?

My best investment advice for 2023 is to create a diversified portfolio of low-cost index funds or exchange-traded funds (ETFs). In addition, it is important to conduct research, monitor investments, and consult financial advisors to ensure that investments are suitable for your individual goals and risk tolerance.

This is very common and not perfect for everyone. Some people who have been in index funds for a while and have started learning more about investing may want to start adding individual stocks to the mix in 2023. Also, exchange traded funds are not mutually exclusive with index funds. that is index fund. Those planning to retire in 2023 should also take other steps, such as adjusting their asset allocation or reducing their exposure to equities.

What’s the funniest question you’ve been asked?

The funniest question I’ve ever been asked was, “Can I get rich overnight?” The answer is clearly no, but it was a humorous reminder that investing requires patience and discipline.

I threw a curveball to the chatbot here. That doesn’t sound like a very pleasant question or “humorous reminder,” at least to me, though.

Overall, I asked the chatbot many other questions, and it’s worth noting that the chatbot didn’t always provide excellent answers. I replied that I was the author of the book.Me Have got A written book, but not the book. When I said yes, it corrected itself and said I wrote another book.

Should you hire a chatbot as your new investment advisor?

Given that ChatGPT offers Several Sound advice, but should you rely on it to guide you on how to deploy your hard-earned money? Enjoy it and see how it answers your question. And sometimes wrong. After all, it’s still learning.