ChatGPT offers shocking investment information!

There is no question AI is a hot topic.  I have watched “end of the world” interviews with people who know a lot more than I do about AI.  In a recent poll, noted in The New Yorker, half of A.I. scientists agreed that there was at least a ten-per-cent chance that the human race would be destroyed by A.I.” 

I have also watched marketing people use Chat GPT to create very good marketing pieces.  

So I thought it’s time to find out how good a source of general and specific investment advice Chat GPT might be.  Will it help people understand the important investment decisions that will lead them to higher rates of return within their personal risk limits.  Will it help them to understand the sources of information that will possibly put more money into the presenters pocket or the investors pocket.

Since I recently discussed Dave Ramsey,  the very controversial and very popular guru, I thought it would be interesting to see what Chat GPT would say about Ramsey’s advice.

1. On this podcast I ask Chat GPT:
2. What are the pros and cons of advice from Dave Ramsey? 
3. What is Dave Ramsey's position on index funds vs. actively managed funds?
4. I asked again:  How does Dave Ramsey feel about index funds?
5. Does Dave Ramsey recommend an advisor be a fiduciary?
6. Are all the advisors that Dave Ramsey recommends fiduciaries?

 

Here are links to what Motley Fool has to say about Dave Ramsey’s advice:

https://www.fool.com/the-ascent/personal-finance/articles/dont-follow-this-dave-ramsey-advice-about-getting-out-of-debt/

https://www.fool.com/the-ascent/personal-finance/articles/4-things-dave-ramsey-is-dead-wrong-about/

The following links are to Dave Ramsey’s literature:

https://www.ramseysolutions.com/retirement/why-dave-prefers-up-front-fees

https://cdn.ramseysolutions.net/media/pdf/daves_investment_philosophy.pdf