{"id":5168,"date":"2023-05-30T08:51:23","date_gmt":"2023-05-30T12:51:23","guid":{"rendered":"http:\/\/leadingcryptonews.com\/25k-traders-bet-on-chatgpts-stock-picks-ai-sucks-at-dice-throws-and-more-cointelegraph-magazine\/"},"modified":"2023-05-30T08:51:23","modified_gmt":"2023-05-30T12:51:23","slug":"25k-traders-bet-on-chatgpts-stock-picks-ai-sucks-at-dice-throws-and-more-cointelegraph-magazine","status":"publish","type":"post","link":"https:\/\/leadingcryptonews.com\/25k-traders-bet-on-chatgpts-stock-picks-ai-sucks-at-dice-throws-and-more-cointelegraph-magazine\/","title":{"rendered":"25K traders bet on ChatGPT\u2019s stock picks, AI sucks at dice throws, and more \u2013 Cointelegraph Magazine"},"content":{"rendered":"


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Almost 25,000 investors have signed up to trade alongside ChatGPT as they follow the GPT Portfolio experiment from copy trading firm Autopilot.<\/strong><\/p>\n

The traders have bet a combined $14.7 million on the AI\u2019s stock picks, which would average about $600 each if they all invested after signing up. They\u2019re hoping to take even a small slice of a purported 500% return from one of the strategies backtested in academic research.<\/strong><\/p>\n

The GPT Portfolio gets the AI to analyze 10,000 news articles and 100 company reports to select 20 stocks for the $50,000 portfolio, updated each week. The initial picks included Berkshire Hathaway, Amazon, D.R. Horton and Davita Health. After two weeks, the portfolio is up around 2%, which is pretty much the same as the stock market.\u00a0<\/p>\n

Interestingly the bottom five picks lost more in percentage terms than the top five gained \u2014 Dollar Tree lost 17% after it missed earnings \u2014 so it might be more sensible in future to only invest in GPT-4\u2019s best five or 10 ideas, but we\u2019ll see how it works out.<\/p>\n

The smaller-scale ChatGPT Crypto Trader account is tweaking a similar strategy that gets GPT-4s advice on when to go long on Ethereum. He says it shows a profit of 11,000% backtested to August 2017, but in the real-world experiment since January, the portfolio is up by a third, while the Ethereum price has gained 60%.<\/p>\n

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