It feels like every conversation lately revolves around the latest discovery in AI and how it’s improving x,y, and z. But how does AI impact our industry as Financial Advisors?

David Booth, Chairperson of Dimensional Funds Advisors, recently wrote an opinion piece on AI and the market for the Financial Times. He states, “Can artificial intelligence help pick stocks? More specifically, can investors use AI to determine the fair price of a stock or a bond? I bet a lot of people right now would say yes, given recent advances that allow for the processing of ever greater amounts of information.

I think my AI is better than all the other ones out there. My AI is the market.”

Read his full take on AI here.

Hal Hershfield, a friend of the podcast, recently had an adaptation from his book, Your Future Self: How to Make Tomorrow Better Today”, published in the WSJ.

We love this concept of “getting to know your future self” taught by Hal Hershfield, who studies the psychology of long-term decision-making, because it’s a lot like our philosophy of taking the long view.

One of Hershfield’s most well-known discoveries suggests that when people are confronted with their “future selves,” they experience an emotional connection that can influence long-term financial and ethical decision-making.

Read his article here.

https://youtu.be/VAfGa5fsOm4

Whether you’re a client, friend, fellow advisor, or future client, if you’ve followed our thinking for more than a few months, you already know that we have a timeless investment philosophy: own global capitalism in a highly diversified (thousands of stocks), low-cost, tax-efficient manner rather than trying to select individual stocks or managers. Hill and our clients are investors. Jim Cramer and stock pickers are gamblers. A corollary is: remain invested all the time…good times and bad; don’t try to time the market. This brief and hilarious John Oliver video highlights the poster child of stock picking, CNBC’s Jim Cramer, and some of his “amazing” stock picks along with their results.

Let’s talk if you’re an investor and not yet a client!