A Wall Street Journal experiment found AI can offer reasonably sound portfolio guidance and market context, but still lacks the judgment, consistency, and guardrails required for trusted financial advice.
ChatGPT did warn me, but when I pressed it went down a rabbit hole of how to trade them. After some back and forth, it suggested monitoring the path of bond yields and stocks after an upcoming jobs report to decide whether I would buy the dip or “fade the move” around the report. I’ve written enough about these—and interviewed enough traders—to know I was likely to lose money. At times, it felt like ChatGPT responded with what I wanted to hear, which would be risky if I were putting real money to work. Alejandro Lopez-Lira, an assistant professor at the University of Florida who has studied ChatGPT’s ability to forecast share prices, echoed the sentiment. “The models can just be very sycophantic,”
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