AI Investing For Dummies

✍ Scribed by Mladjenovic, Paul

• Publisher: Wiley
• Year: 2024
• Tongue: English
• Leaves: 307
• Category: Library

✦ Synopsis

Winning strategies for investors looking to boost gains with artificial intelligence AI is one of the hottest investment trends on Wall Street. AI Investing For Dummies gives you all the must-know details on how artificial intelligence can benefit investors. You’ll learn how powerful AI can be in helping you make better decisions, identify hidden opportunities, and build wealth in stocks, bonds, commodities, and real estate. This easy-to-understand Dummies guide also covers budgeting, taxes, estates, and planning for college and retirement—all with AI-specific tactics that can improve efficiency, mitigate risk, and level up your portfolio’s performance. You’ll also find all the info you need to sift through and implement the right resources and solutions for you. Understand the benefits and drawbacks of AI investing Debunk the biggest myths about AI investing Get an in-depth analysis of the top AI stocks to watch Learn how to avoid common pitfalls in AI investing Take a peek at the role of AI in shaping the future of finance This is the ideal Dummies resource for consumers and investors who are new to AI and want to wrap their heads around this emerging technology.

✦ Table of Contents

Title Page
Copyright Page
Table of Contents
Introduction
About This Book
Foolish Assumptions
Icons Used in This Book
Beyond the Book
Where to Go from Here
Part 1 Artificial Intelligence Basics
Chapter 1 Artificial Intelligence 101
First Things First: What Is AI?
Distinguishing the Two Types of AI
General AI
Specific AI
Investing in Stocks with AI’s Help
Using AI to Try Stock Investing Alternatives
Looking at Your Total Financial Picture with AI
Getting Smart about AI
Chapter 2 A Primer on ChatGPT
Acquainting Yourself with ChatGPT
Asking ChatGPT to describe itself
Discovering what ChatGPT can help you with
It’s All About the Prompt
The Limits and Negatives of ChatGPT
Looking at ChatGPT Alternatives
Chapter 3 Spanning the AI Landscape: Different Inputs and Outputs
First Things First: Text-to-Text with Chatbots
Other AI Inputs and Outputs
Document-to-text
Audio-to-text
Text-to-image
Text-to-video
Finding Even More Tools with a Few Helpful Resources
Part 2 AI Stock Investing
Chapter 4 Large-Cap AI Stocks
Getting a Sense of AI’s Place in the Big Picture
Understanding Market Capitalization Basics
AI Companies: The Major Players
Checking Out the Pros and Cons of AI Stocks for Investors
The pros
Growth
Income
The cons
The Indirect Way to AI Profits: Investing in Impacted Companies
Using AI to Analyze Large-Cap Stocks
Doing a SWOT analysis
Summarizing financial data
Chapter 5 Small-Cap AI Stocks and IPOs
Beginning with the Basics of Small-Cap Stocks
Finding AI-Related Small-Cap Stocks
Choosing Small-Cap AI Stocks
Introducing IPOs
Surveying Safety and Hedging Strategies for Small Caps and IPOs
Stop-loss orders
Trailing stops
Option strategies
Chapter 6 Diversifying with ETFs and Mutual Funds
Comparing ETFs and Mutual Funds
Something in common: Diversification
Static portfolios versus actively managed portfolios
Shares versus cash purchases and sales
Looking at the Pros and Cons of ETFs and Mutual Funds with AI’s Help
ETFs
Mutual funds
Noting Some Top AI-Related ETFs
Researching ETFs with AI
Focusing on AI-Related Mutual Funds
Reviewing Resources for Investing in ETFs and Mutual Funds
Chapter 7 Robo-Advisors
Defining What a Robo-Advisor Does
Debating the Pros and Cons of Robo-Advisors
Digging into Robo-Advisors’ Main Features
The Bottom Line: Choosing a Human Advisor or a Robo-Advisor
Listing a Few Top Robo-Advisors
Chapter 8 Fundamental and Technical Analysis
Fundamental Analysis
Key fundamental factors
Profitability
Solvency
Multi-year consistency
The company’s market and competition
Fundamental analysis and AI
Technical Analysis
A spotlight on RSI
Technical analysis and AI
Part 3 AI Stock Investing Alternatives
Chapter 9 Hard Assets and Commodities
Understanding Investing versus Speculating
Comparing the Risks of Precious Metals and Commodities
What precious metals don’t have: Counterparty risk
Other risks associated with stocks and other conventional vehicles
Risks with precious metals
Risks with commodities
Handling Hard Assets (Primarily Precious Metals)
Ways to invest in gold and silver
AI strategies and precious metals
Precious metals resources
Considering Commodities
Comparing commodities and futures
Looking at different types of commodities
Agricultural commodities
Livestock and meat
Oilseeds
Tropical products
Dairy products
Energy commodities
Industrial (base) metals
Exotic metals
Rare earth metals
Checking out commodities investing vehicles
Using AI to get the scoop on commodities
Reviewing resources on commodities
Chapter 10 Bonds, Bank Investments, and Digital Currencies
Bonds and Bank Investments
Bonds
Bond issuers and types
Bond ratings
Questions about bonds to ask AI
Bond resources
Bank investments
Cryptocurrencies
Central Bank Digital Currencies (CBDCs)
Chapter 11 Real Estate Investing
Knowing Whether You Have What It Takes to Be a Real Estate Investor
Noting Two Major Real Estate Considerations
Getting into Direct Real Estate Investing
Investing Indirectly in Real Estate
Trying Real Estate Investment Trusts
Examining Real Estate ETFs
Checking Out Additional Strategies for AI Real Estate Investing Prompts
Consulting Real Estate Resources
Chapter 12 Business and Career Ventures
Understanding the Benefits of Having Your Own Business
Earning income
Enjoying tax benefits
Having fun
Building wealth with your own retirement account
Simplified Employee Pension (SEP) plan
Individual 401(k) plan
Selling your business for big money
Starting a Business
Doing some research
Putting together pieces of a business plan
A SWOT analysis
A marketing plan
Funding your business
Steering your start-up with the help of AI
Running Your Business
Getting help with your current software
Writing a variety of content
Generating images
Seeing other ways that AI can help you run your business
Using AI to Boost Your Career
Discovering the best jobs for your skills and experience
Finding advice for your current job
Researching new job opportunities
Creating a winning resume
Honing your interviewing skills
Part 4 Smart Investment Tactics
Chapter 13 Using AI for Economic Analysis
Gross Domestic Product (GDP)
Defining GDP
Delving into the details
The Labor Market
Income Taxes
Interest Rates
Leading Economic Indicators (LEI)
Inflation
The Federal Reserve
The role of the “Fed”
The “Fed” as an investor resource
The Political Landscape
Chapter 14 Financial Planning and Other Money Matters
Walking through the Steps of Financial Planning
Getting a Handle on Budgeting
Spotlighting College Expenses
Chapter 15 Retirement and Estate Planning
Digging into Retirement Planning
Your starting point: A personal balance sheet
The “5–10 approach” and a reality check
A helpful checklist
Even more AI retirement planning prompts
Thinking about Estate Planning
Defining “estate planning”
Beginning the estate planning process
Chapter 16 Tax Considerations
Reviewing the Tax Treatment of Different Investments
Understanding ordinary income and capital gains
Determining your best timing
Looking at a capital gains example
Minimizing capital gains taxes
Cutting taxes with capital losses
Evaluating gain and loss scenarios
Sharing with the IRS
Tax forms
The wash-sale rule
Looking at Tax Deductions for Investors
Investment interest
Foreign taxes on investments
Miscellaneous expenses (on Schedule A)
The donation of securities
Nondeductible items
Getting Tax Benefits with Retirement Accounts
IRAs
Traditional IRAs
Roth IRAs
401(k) plans
Checking Out AI Tax Tactics and Strategies
Tapping into Tax Resources
IRS publications
AI tax tools
Tax sites
Tax software
Tax resources from yours truly
Part 5 The Part of Tens
Chapter 17 Ten Cautions about Artificial Intelligence
Inaccuracy and Errors
Bias
Fraud
Job Displacement
Overreliance on Technology
Information versus Wisdom
Use of the Right AI Tool
Your Input versus AI Output
Faulty Predictions
Privacy
Chapter 18 Ten or So Types of Prompts You Can Use for AI Investing
Simple Questions
Complex Questions
Personal Scenarios with Goals in Mind
Formulas
Lists
Second Opinions
Pros and Cons
Comparisons of Performance
Prompts in Different Languages
Prompts at a Basic Level
Document Analysis
Chapter 19 Ten Tools and Resources That AI Beginners Should Consider
OpenAI.com
Investopedia
ToolsAI.net
YouTube AI Channels
LinkedIn
AI Productivity Tools
Bedrock AI
Your Brokerage Site’s Robo-Advisor
Udemy and Other Online Courses
Discord and Other Groups
Chapter 20 Ten Strategies to Complement Your AI Investing Pursuits
Focusing on Fundamentals
Investing in Utilities
Investing in Consumer Staples
Investing in Healthcare
Considering Dividends
Limiting Your Losses
Choosing the Right Savings Bonds
Diversifying with Hard Assets
Personal Preparedness
Keeping a Paper Trail
Part 6 Appendixes
Appendix A AI Resources
Beginners’ Tutorials and Courses on AI
AI YouTube Channels
Books on AI
AI News and Views
AI E-Zines
AI Resource Compilations
User Groups about AI and ChatGPT
Appendix B AI Tools
Investing AI Tools
Personal Finance AI Tools
Tax and Budgeting AI Tools
Robo-Advisors
ChatGPT Alternatives
Directories of AI Tools
Other Finance-Specific Tools Using Generative AI
Appendix C General Investing Resources
General Investing Sites
Specialized Investing Sites
Investing Books
LinkedIn Groups
Investor Clubs and Organizations
Government Agencies
Index
EULA