Bridgewater co-CIO Greg Jensen spoke with Bloomberg, saying that large language models like OpenAI's chatbot are "awful" at reading the market.
"If somebody's going to use large language models to pick stocks, I think that's hopeless – that is a hopeless path,"
Bridgewater has a use for them though:
- "combining large language models that are bad at precision with statistical models that are good at being precise about the past but terrible about the future," he added. "Combining those together you start to build an ecosystem that I believe can achieve the types of things that… Bridgewater can do – but it can do it at so much more scale."
Added that if you have "the ability to control their hallucinations and errors" you can do "a tremendous amount at a rapid rate".
He is correct on the "hallucinations and errors" of these things, yeah. If you find yourself on the opposite end of a trade with one of them its probably time to double up ;-)
