A hedge fund manager shares 2 ChatGPT prompts and the AI plugin he used to filter top stock picks
. One was a walk-forward test that asked the LLM to pick five stocks it expected would do well in 2022 since it only had data up until 2021. The second was a real-time test that asked for forward-looking stock picks expected to do well over the next 12 months. He fed the LLM data from a terminal and asked it to filter its findings through top academic literature and fund managers.
"What we really wanted, which we didn't get, and I guess you couldn't get, is some crystal ball which looked into the future and said, 'here are the stocks which are going to do fantastically well over the next 12 months,'" Patel said."And that's the mistake people are making. They're thinking that's what AI is going to give them. And of course, it can't do that.
The main findings from the initial experiments were that GPT-4 could do two things: confirm your homework, and tell you something you might otherwise have missed based on the data you imputed. Another thing he learned was that getting the prompt right was one of the most critical steps. In his earlier experiments, Patel and his team manually pasted increments of stock data into ChatGPT's text box. This limited how much data could be used.
The stocks and funds uploaded were all those listed on the Nasdaq and the New York Stock Exchange. The metrics Patel chose to input were based on company fundamentals that he felt were important when picking stocks.
He then asked ChatGPT's LLM via Julius.ai to select names it expected would do well in the following six months to June. As a knowledgeable stock market analyst with expertise similar to Warren Buffett, your task is to analyze the given data and provide recommendations for the top 10 stocks to invest in. Please consider the following guidelines for your response: 1. Base your recommendations on thorough analysis and understanding of the literature and factors that influence stock markets.
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