Gemini AI

[Righteouscats]

I asked Gemini AI today to have a look at my portfolio. It was a very interesting chat - even gave advice on currency exchange settings on the platform I use to keep costs down.
Never thought about asking it for advice on funds.
Any one else use it for this?

No no no. Well, it can probably give generic advice on keeping fees down. But don’t use it to pick individual stocks. It just doesn’t know.

Have you tried it -that’s what I’m asking 🤪

No I haven't, and hell will freeze over before I do.

The writers at Motley Fool UK regularly ask ChatGPT to recommend stocks with specific characteristics. Let's just say that none of them actually take AI's advice.

Interesting response😅 Why would you not even ask, aren't you curious?

I am not in the business of outsourcing critical thinking to a large language model that cannot distinguish between fact and fiction for its inputs and isn't accountable for the results. And if I'm not prepared to outsource the critical thinking, I'm certainly going nowhere near the logical next step of outsourcing agency.

Quite separately from that, if you give a machine a man's job, you take something away from the man.

So not curious then! 😂

A colleague has used Claude Code to build an app that’s tracking some specified funds and stocks, some of which he is already invested in and some which he isn’t. It models performance and calculates various things. He’s be using it to do a bit of day trading too. So not taking a man’s job, man using it as a tool. Quite interesting.

Quite separately from that, if you give a machine a man's job, you take something away from the man.

@InveterateWineDrinker so you don’t use anything that’s made in a factory rather than by a man? Curious as to what devise you’re posting on mums net with.

You can guarantee all your wealth management companies are doing masses with AI to chose the constituents of your funds tho so why wouldn’t you. Even comparing two funds to make sure you’re not doubly exposed to the same stuff. I’m not talking about trusting it blindly but getting it to run analytics and summarise for you to sanity check absolutely.

my corporate pension has a choice of 80 funds. Am I going to go through each manually to decide what to invest in…. No. Am I going to blindly trust the default fund….. no. ai is great for some broad analysis and summary for me to then review and make an informed choice without spending days on it.

I know someone who is a trader and they have tested Geminis advice to destruction. If you challenge what it says it changes its advice, again and again and again with it eventually telling him that the original advice was rubbish! It hasn't got any experience in the field so take what it tells you with a huge pinch of salt.

Yes it does seem to have a people pleasing aspect to it. And it tends to make assumptions unless you are very specific about what you need - but it can raise some interesting points - you have to use your head too.