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How I used ChatGPT and Bard to Improve My Personal Financial Portfolio


I use ChatGPT for a lot of things now - for work mostly, but as I was curious about GPT-4 I decided to go ahead and also pay for the premium where I discovered the plugins. I started playing around with some of the financial plugins - there is one that you can ask any question you want about the latest earning calls, one that gives you full information about any stock, and one where you can upload a portfolio and it will give your recommendations and insights. None of the plugins is really great to be honest, at this point it's all pretty slow and most of the information you can get more quickly by using Google or Bard.


Anyway, while I was playing around - I realized I can basically use ChatGPT as an investor advisor. And these are the steps I took to do it:


  • I asked ChatGPT what it needs to help me optimize my portfolio, I got the following answer:


chatgpt results

  • I gathered the information which took me some time, I fed him the information in stages over a period of a few days. If I had any questions- I asked and got an answer.

  • After feeding him the info - ChatGPT told me what is missing from my portfolio of assets, and what I should do for my next investments


Once I did this entire process, ChatGPT gave me an answer that is tailored to my personal assets portfolio - in my case it advised me to diversify my portfolio by -

  1. Investing in different sectors and value stocks that are not tech (which I am highly invested in)

  2. Invest in emerging markets

  3. Invest in Bonds, fixed-income securities, commodities (gold, silver, oil), REITs, inflation protected securities

  4. Invest in mid-cap and small-cap companies


At this stage, in order to properly execute the plan, I moved to Bard where the data is updated, and started digging - started my process with finding stocks from different sectors that ChatGPT suggested for me - healthcare, consumer goods, financial services, or utilities. So asked Bard to list all top stocks in those sectors with information about market cap and analysts ratings. I filtered the list to have a final list of about 12 stocks to invest in. Did the same for the other suggestions - found ETFs for emerging markets that looked promising and debated on a list of mid and small-cap companies.


Finally - I can say I am very confident with the plan that I executed - my portfolio is much more diverse now.


My main takeaway from this process is that ChatGPT/Bard should be used as tools to power your already ongoing research, If you know what questions to ask, and feed it the right information it will give you great advice, but without the information it will just give generic info that is not helpful.


Without Bard and ChatGPT this research would've taken me weeks to do, with it I could get the info I needed much faster - and didn't need extensive excel sheets - ChatGPT remembered everything. And the cool part is - I can always go back to the saved chat and continue the conversation - update with the current results and ask if anything needs to be changed. I would say - definitely a game changer for this type of task.



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