Хидео Накамура Economist Peter Schiff was very impressed with the smart technology from Chatgpt assistant, which did not include buying Bitcoin in its list of recession-proof investments. He made these remarks after reading a news article talking about this chatbot’s huge recommendation to invest in precious metals like gold.
“Peter Schiff Shares Report on AI-Recommended Recession-Proof Investment Portfolio!
Crypto critic Peter Schiff recently shared a report on social media about Openai’s Chatgpt. The test showed that it did not recommend Bitcoin when asked to suggest a “recession-proof” investment portfolio. Schiff Tweeted the article which talked about this test result.
Recently, a website that gives advice about investments in Individual Retirement Accounts (IRAs) put an Artificial Intelligence (AI) chatbot to the test. They asked it to recommend allocations of money that would be protected from bad markets.
Gold IRA Guide said that we should mix up different kinds of assets if we want to create an investment portfolio that won’t get affected by economic downturns. This can include stocks, bonds, cash, and even precious metals. That way, our savings will be extra safe!
According to the announcement, the ‘perfect portfolio’ was made up of 40% bonds such as government and company bonds, 30% stocks from healthcare, utilities and essential consumer goods companies. There is also 10% cash and its equivalents like US dollars, money market funds and certificates of deposit.
Gold and other precious metals that can be held as physical objects, paper-assets such as Exchange Traded Funds (ETFs), or stocks from mining companies increased by 20%. This is a much higher figure than what was expected by some well-known financial advisors like Ray Dalio and Peter Schiff.
Peter Schiff recently said that gold will become more expensive and has already broken the $2,000 mark. Do you think Peter is right? Write your opinion in the comments section.
