How AI Will Transform Investing
Episode publishedPodcast: Lumida Wealth : Non-Consensus...Lumida Wealth : Non-Consensus Invest Beyond the Ordinary
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Welcome, great to see you again.
Hello Ram, great to see you too.
I'm pleased to kick off our next episode of Illumina Non Consensus Investing with a close friend, Bob Dewey. Bob is the host of the Exploring Prosperity podcast. And what I like about Bob is that he many things I like about Bob, but he's looking at the bigger picture, the bigger trends. And you also grew up in the money management industry. And I love talking to people that come from that industry because you actually have to make a risk decision. It's not enough to pontificate, you have to have a point of view and implement. So we're going talk about AI and transformation, how AI will disrupt
Sure. I've had a lot of fun creating this podcast about how pessimistic everybody is about the future and particularly prospects for the next generation. It's amazing that over since World War II, it's been almost a straight line down in the optimism that Americans have for the next generation, whether their kids are going to be better off than they are. And it's curious because it feels, especially if you look at the stock market as an indicator, it feels like this is a golden era. Rare to have seen the stock market go up so steadily for so long. It is a measure of economic activity and econo
And you had an interesting experience because you had an adventure where you were trying to connect the brightest sell side analysts to money managers. And now at the outset of the call in the preview session, the green room, we're talking about Ken Griffin and some of his comments. You want to share that?
Yeah, he last week, his clip went viral and it's he said essentially, I wound up recently seeing that we're solving problems that PhDs and masters employees and finance of mine took weeks and months to solve, and we're solving them in hours or days. And then he went on to say, I actually went home on a Friday and felt pretty depressed about this. He didn't explain exactly what was making him depressed, but we can assume it's the same that everybody is worried about.
The vote is gonna get smaller presumably.
Exactly, that all of a sudden people aren't going to be needed to, in this case, solve problems. And I think that it's very human to look at rapid change and be worried. On the other hand, progress is all about solving problems. And if you can solve a problem that used to take months in hours or days, then you would be worried if those problems were the last problems to solve because then you're done. But problems that get solved normally create many more problems that can be solved. So I
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