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Warren buffett if you don t find a way12/29/2023 ![]() Hebbia was in on the conceit and, no, she didn’t get the gig – see the video below – but start searching LinkedIn now if such work takes your fancy. Joanna Stern, personal technology columnist at The Wall Street Journal, did a pretend job application for such a post at Hebbia, a New York AI startup. In other words, garbage in (in my case), garbage out.īearing Clinton out, it seems that being a ‘prompt engineer’ – working out how to get the best answers out of an AI chatbot – is one of the hottest jobs in tech right now with salaries of up to $250k. ‘The secret sauce is really in how we prompt the models and the philosophy that we try to instil in the model to actually make the picks.’ So we can all do this right? Bash in some famous names to ChatGPT and sit back and wait for the profits to roll in? Not so fast, says Clinton. ‘They’re doing pretty well I would say – one is long/short and the other is a concentrated tech portfolio,’ he said. But there is real money – albeit less than $100,000 – in two portfolios. The track record is obviously miniscule and most of the strategies are just paper portfolios. so goodĬlinton is not claiming game over for traditional stock picking at this point. I think a couple of places where it’s maybe done a little bit less well versus the indices, is trying to pick stocks that have dividend qualities or such factors.’ So far. So the AI has proven to be pretty good in many cases. ![]() ‘Some of them are beating benchmarks by up to 400 basis points already. ‘We have large cap, small cap, international and so on. He says about 70% of them are beating their comparable benchmarks. Then I’ll give it a selection of stocks and say “here are some of the stocks I’m considering”.’Ĭlinton started hitting the keyboard in July and has about 30 strategies on the go. ‘I will give the model some guidance about what that means – what I think it would mean to think like Warren Buffett. I want you to think like John Templeton”,’ says Clinton, who is a joint managing partner at the $300m business. ‘I will say “I want you to act as the world’s greatest fundamental investor. The chat-based models are a new game in town. You need to understand data science and then by understanding data science, you have a natural reverence for the value of data.’ ‘Dear ChatGPT. Missed the 2022 Berkshire Hathaway annual meeting? Watch it now on .‘You have to have knowledge of real coding and it’s a much bigger data science project. Update: This story was updated to reflect Buffett's net worth and Berkshire Hathaway's market capitalization as of April 20, 2022. "With very few exceptions, we have now 'worked' for many decades with people whom we like and trust," he wrote. ![]() As CNBC Make It recently noted, "enthusiastic stayers" - who make up a third of the workforce - are more engaged, more productive and help businesses become more profitable, according to December 2020 research published in the Journal of Managerial Issues.īuffett seemingly agrees with those findings. "Turnover averages, perhaps, one person per year."īerkshire may have been ahead of the curve in that regard: Low turnover is becoming increasingly well-known as a recipe for particularly productive and profitable workplaces. "We employ decent and talented people - no jerks," Buffett wrote. It has a market capitalization of $773.93 billion, as of April 20.īuffett's wealth is largely due to Berkshire's most recent decades of financial success, and in his letter, Buffett partially attributed that success to finding people he and Munger enjoy working with. Today, it's an investment and holding company that owns or holds long-term stakes in businesses like Geico, Fruit of the Loom, American Express and Coca-Cola. That changed when the duo "found what to do" at Berkshire, which Buffett purchased in 1965, forcing the company's previous management out.Īt the time, Berkshire was a struggling textiles company. "Job satisfaction continued to elude" them, Buffett wrote, even as they branched out into selling securities and law, respectively. In his letter, Buffett wrote that he and his business partner Charlie Munger, Berkshire's vice chair, both started as "part-timers" at his grandfather's grocery store in the early 1940s, where they were "assigned boring tasks and paid little." ![]() The 91-year-old billionaire - currently the world's fifth-richest person, with a net worth of $126.3 billion, according to Forbes - speaks from personal experience. "Even so, I urge the students never to give up the quest, for when they find that sort of job, they will no longer be 'working.'" "Economic realities, I acknowledge, may interfere with that kind of search," Buffett continued.
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