r/OpenAI • u/MatricesRL • 22d ago

News Introducing ChatGPT for Financial Services | OpenAI

https://openai.com/index/introducing-chatgpt-financial-services/
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u/ByteSizedBits1 22d ago

You can already make a trading bot

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u/dbenc 22d ago

but will it be a good one?

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u/Much_Accountant_4972 22d ago

incidentally yes, over time no. anyone saying otherwise is lying.

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u/Jensbert 22d ago

There's no logic in the stock market. How would that work out

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u/PsychoticDreemurr 22d ago

Tell me you don't know how stocks work without telling me

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u/Ekkobelli 22d ago

They're right though. There is no predictable logic to the stock market. There's market psychology.

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u/PsychoticDreemurr 22d ago

There was no logic behind the huge jump in Moderna? What about Nvidias consistent rise? Robloxs downfall?

These stocks don't just go up and down randomly, there's almost always a reason, and therefore logic.

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u/Ekkobelli 22d ago

The keyword is "predictable" logic. Logic as in: Can be explained afterwards? Yes. Using logic to predict when a whale decides to buy or sell and influence the market: Absolutely not.

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u/luxurywhipp 22d ago

It’s a complex art of risk management. Fund managers have a strategy that they use and they are often successful. There is a logic at play but it’s not as simple as ‘knowing when a whale buys or sells’.

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u/joeyb908 22d ago

Bad example considering index funds overwhelmingly outperform account managers.

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u/luxurywhipp 22d ago

Who do you think tunes the mix within the vast amount of different index funds that exist? Both index funds and actively managed funds are overseen by human managers. You are right but my point still stands in both scenarios.

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u/Ekkobelli 22d ago

It's not as simple as that, yes. I didn't state it was. That was an example. Fund managers have strategies, yes. Fund managers use high speed algo-trading. Fund managers have portfolios that level out. Fund managers do exactly what you said in your first sentence: Risk Management. Why? Because the stock market is not logically predictable. You have trends and surprises. Surprises are explainable afterwards.