Hello all,
I wanted to solicit the opinions of seasoned investors (Don and others) on this Forum about A.I. bots such as Scanz, Tickeron, TrendSpider, Equbot, and Google's "Bard" (which apparently gave incorrect answers to users in February). The use of A.I. bots is currently legal, but, though I am no expert, I wonder how investors' progressively increasing reliance on A.I bots will affect the performance of financial markets.
1) What are some advantages/disadvantages of using A.I. stock-picking bots?
2) Are they 'too good to be true?'
3) Would it be better to wait 4-6 months until more A.I. bot kinks get worked out?
4) Does this following approach sound feasible?:
a) Backtest 15 or so online A.I. bots for a few years each.
b) Then, 'forward test' on paper (with no financial risk) the 8 or so best ones.
c) Then, use 'old school' fundamentals (irrespective of A.I. bots), including consulting the opinions of professionals online, to pick possible stock candidates that are so-called 'inflation-proof' if the economy is currently experiencing an inflation. In the interest of diversification, perhaps pick 4 stocks from each Sector of the stock market.
d) Check each bot to see which stocks on my 'old school' 'short list' are on the greatest number of online A.I. bots' recommended lists.
e) When inflation is low, invest small amounts of money in 2 of my best, lowest risk 'short list' stocks from each Sector.
Thanks ahead of time!
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