Short post on AI, been impressed so far.
I’ve been thinking a lot about AI this year (mostly in the context of search engines). I wanted to share one amazing example where it was 100x better than a search engine. What was I researching?
I am rebalancing our retirement fund (Bogglehead style) and was researching a few different stock and bond ETFs to understand them. Usually, I go to Google and use them to search the Bogglehead forum and Reddit group for questions I am having (and in rare cases I might post on the forum).
Specifically, I was looking at three bond ETFs to understand the difference. Usually, this takes a lot of research reading the prospectus (highly technical language), and reading about 20 different threads on financial forums. And it doesn’t always have the answer as I am reading around the subject and hoping someone talks about it.
What can ChatGPT do?
I asked ChatGPT to explain the differences between the 3 bond ETFs I was looking at. The summary was fantastic and accessible, and then I could sit there and ask specific questions about all three to understand them better. Specifically what percentage of treasury bonds were within them and which was better for what type of investor. I also was able to ask it to explain the risk of treasury repo funds versus others. I also did this with a couple of stock ETFs to understand them.
The result was so personalized, quicker, and so much easier to understand.
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