5 tips to use ChatGPT to make you a better investor even if you don't have a financial background

In this video, I share five ways to use AI to improve your investment skills.

The first tip is to use chat GBT for fundamental analysis, which helps non-financial people analyze financial statements and determine the impact on a company's future.

The second tip is to use chat GBT to review your portfolio, which assesses your portfolio's concentration risk and diversification.

The third tip is to use chat GBT to compare two companies as investment opportunities by looking at their financial performance, market position, and valuation.

The fourth tip is to use chat GBT to explain complex investing concepts, such as covered calls or cash-secured puts, in simple language.

The fifth and best tip is to use machine learning to predict stock prices and make investment decisions based on those predictions. I provide a demonstration of how to use these tips throughout the video, so make sure to watch and try them out for yourself!

Prompt 1 - Extract key insight from an earnings report

Prompt: “Summarize the top 10 insights into bullet points and explain the impact to the company's future. For each of the bullet points, indicate whether that would be [Positive] or [Negative] to stock price”

Prompt 2 - Review your portfolio (Providing comments on diversification, exposure and hedging)

First Prompt: “Can I provide you a portfolio and you tell me the pros and cons of it?

Second prompt: “The values provided below are book value not market value“ + Paste your portfolio directly in Chat

Prompt 3 - Compare investment opportunities

Prompt: Compare the two companies as investment opportunities AMD vs NVDA

Prompt 4 - Explain to me the following concept: Covered calls / Cash secured puts

Prompt 5 - I will provide you with 12 weeks of stock prices and help me forecast 5 more weeks using linear regression. Once I give you the data, please provide me with the expected price, upper range and lower range each week. Is that okay?

Link to Yahoo Finance: https://finance.yahoo.com/quote/SPY/history?interval=1wk&filter=history&frequency=1wk&includeAdjustedClose=true

Let me know what's your favourite ChatGPT prompt

Cheers,

Eric Seto, CPA, CIM

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