Using artificial intelligence for stock and investment research (for the best possible outcomes)

Imagine you could use AI for stock and investment research.

Well, you can.

I’ve been enjoying working with ChatGPT + Bard over the last few months and I’m sure my process will help you:

(plus whether you can expect it to tell you which stocks to buy)

First of all…

Consider ChatGPT/Bard as your very own analyst or intern.

This is CRUCIAL.

It’s hardworking, has ‘energy’ and access to loads of info but can make mistakes so you’re the one in charge.

Hence, never take responses as final in one go.

Once I got this, it clicked

You need to start with a clear overview of your research topic or focus, and what you’re seeking to prove (or disprove).

Let’s call it mini-thesis.

If you don’t know where you’re going, it will confuse you even more.

Start prompting:

-Mini thesis

Explain what you believe and what’s your objective

-Suggest where it can search

List your known sources, ask for other ideas

Here’s some examples:

Go deeper

‘I’ve heard that [x] and I want to confirm whether [option A/B]’

‘Do you know about [x]?’

It’ll say yes and will give you a sense of blindspots.

In this example, it doesn’t include Mexico’s policy change, but when I pushed, it expanded with useful details.

QAQC

Once you start getting answers, test with facts you know well

-ask it to confirm any assertion, for instance

‘are you sure about [x]’,

(beware, you’ll catch mistakes!)

-ask for sources where you can double-check specifics, especially when they feel iffy

Use each optimally

ChatGPT:

Use the same chat for specific topics, it’ll be able to go back and keep a ‘train of thought’.

(unless a long time has gone by)

I have just a handful.

Bard:

Live internet access so gives current answers. Sometimes saves recent chats (or pin)

iterate and refine

Keep track of what works best and what didn’t work at all.

Use this record to keep learning how to take best advantage.

Now, the piece of resistance:

Will it tell you which stocks to buy?

You knew this one.

Absolutely not.

And as a clever investor, you’d never take their word without doing your due diligence, right?

(I hope so)

That’s it for today.

Using AI for research is not only a good idea, but an effective way to do more with your time.

Give it a spin and tell me how you go!