New Confessions Of A Market Maker Episode!
Exploring the Potential of AI Trading with Autopilot and Chat GPT: Insights from Brian Schardt
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Hey everyone,
In this week's podcast episode of Confessions Of A Market Maker, we have a fascinating conversation with Brian Schardt, a graduate of Thomas Aquinas and former employee of several major tech corporations. He went on to form startups intended to empower the retail trader, including Autopilot and Chat GPT Portfolio.
Brian explains how Chat GPT uses technical analysis and financial statement analysis to predict the future of stocks. The AI can analyze 10,000 stocks at scale and provide a summary of why it's picking certain stocks. It can also learn from itself and identify patterns in news headlines to determine which stocks are likely to improve in the short term.
We also discuss ethical considerations and compliance issues related to using AI technology for trading. Brian mentions that Autopilot does not have custody of any funds and monetizes through charging for the technology service of automated API requests to different brokerages. The user is not asked for personal information and Autopilot does not provide advice, but rather encourages users to follow along and copy trade Chat GPT.
Brian also shares his thoughts on cryptocurrency and the benefits of owning stocks in globally present companies like Apple. He briefly discusses his personal trading strategies, including successful trades in Tesla and shorting airlines during the COVID-19 pandemic. Brian also shares a low market cap stock he is invested in, a stem cell company called Cellularity.
The conversation is insightful and thought-provoking, and we thank Brian for sharing his insights. As always, we encourage you to listen to the full episode to learn more about the potential of AI technology in trading and the challenges that come with it.
You can view & listen to the complete podcast espisode at Confessions Of A Market Maker
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Until next time,
Ray, JJ, and the Confessions of a Market Maker team.
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