The Great and Powerful AI

Talking Real Money - Investing Talk

Don McDonald

Education, Business, Investing, How To

4.5 • 811 Ratings

🗓️ 19 May 2026

⏱️ 34 minutes

🔗️ Recording | iTunes | RSS

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Summary

Tom and Don explore whether artificial intelligence is truly ready to replace financial advisors, sparked by a recent Wall Street Journal experiment using ChatGPT to build a long-term investment portfolio. They break down the AI-generated recommendations, highlighting both the surprisingly sensible use of low-cost index funds and the concerning inconsistencies, recency bias, and lack of academic factor tilts. Along the way, they discuss whether AI gives investors what they need or simply what...

Transcript

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0:00.0	Your guides to a really great financial future.
0:09.0	Tom and Don are talking real money.
0:12.2	I think this bears reiteration.
0:15.1	I am kind of glad I'm old now.
0:18.2	I'm kind of glad I'm old because it appears that there'll be less need for us in the future, although there is some hope on the horizon.
0:27.2	The financial advice industry is threatened by artificial intelligence. Lots of jobs are threatened by it. But how threatening is AI right now?
0:38.2	That's what we're going to talk about
0:39.5	on today's exciting
0:41.2	edition of the Talking Real Money
0:43.3	podcast with yours truly, Don
0:45.2	McDonald, and his truly, Thomas
0:46.9	Seacock, the
0:49.1	well hydrated.
0:52.0	Are you hydrated now? You ready
0:53.4	to go? Yeah, I'm hydrated. I'm ready to go. All right, as you're ready to go. Hit it. Rip? You're ready to go? Yeah, I'm hydrated.
0:54.5	I'm ready to go.
0:55.1	All as you're ready to go.
0:56.2	Hit it. Rip, Raring to go. Oh, the, Donald McDonald. Now it made me feel like I had to hydrate. You need more than I do down there. I have a fancier than you, though. I have an awala. This bottle is from my grandsons. It couldn't be any fancier.
1:09.7	No, it's not.
1:10.3	The grandfather.
1:11.3	Says it right there.
1:12.1	That's pretty cool.
	...

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