🍋 ChatGPT's Stock Picks

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Good Morning and Happy Elon (4/20) Day! Copyright laws are coming under scrutiny after a fake AI-generated Drake song went viral and got pulled from streaming platforms. Yesterday was a tough day for investment banks, with Morgan Stanley reporting a 24% drop in investment banking revenue and HSBC’s top shareholder demanding the spinoff of its Asian business.

Kim Kardashian is busy hiring Wall Street talent (including a COO who formerly worked at Apollo Global) for her new private equity firm, SKKY Partners. And Snapchat introduced a ChatGPT-powered chatbot available for all users.

Want to invest in the next big brand name in your home and get in on the ground floor of an innovative technology company? Check out today’s sponsor RYSE.

1. Story of the Day: ChatGPT’s Stock Picks

Everyone knows AI is coming, but groundbreaking research shows ChatGPT can already predict the stock market and decipher Federal Reserve statements. This technology has exceeded expectations, leaving experts to believe the hype is warranted.

ChatGPT has demonstrated an extraordinary ability to analyze the language and determine whether Federal Reserve statements are hawkish or dovish. In addition, the language model has successfully explained its classifications in a manner that mimics that of a central bank analyst.

Maybe even more impressively, ChatGPT can predict whether a given headline will have a positive or negative impact on a stock's performance. The data collected revealed a statistically significant correlation between ChatGPT's assessments and the subsequent movements of the stocks in question.

Takeaway: The use of AI in trading strategies is set to become the norm, and it’s a powerful tool that can positively impact the financial world. ChatGPT is showing AI’s integration into financial markets might be here sooner than we expected. How long before AI can churn out decks in a matter of seconds that takes investment banking analysts 100+ hour weeks.

2. Markets Rundown

_{For access to Wall Street insider interviews, industry deep-dives, premium research/resources and weekly Knowledge Drop newsletter, check out our Insiders membership.}

Stocks closed lower as earnings take focus.

Movers & Shakers

• (+) Western Alliance ($WAL) +24% as earnings calm deposit fear.

• (+) Abbott Laboratories ($ABT) +8% after the company's earnings exceeded the expected drop in Covid test sales.

Private Dealmaking

• EquipmentShare, an equipment and digital solutions provider, raised $290 million

• Coro, a cybersecurity platform, raised $75 million

• Okedo, an operations software providers raised $53 million

• 1upHealth, a health care data platform, raised $40 million

• Huntress, a management security platform, raised $40 million

• Elevate, a consumer benefits administration startup, raised $28 million

A Message from RYSE: There's One Big Opportunity Left in The Smart Home Industry

Ring 一 Acquired by Amazon for $1.2B

Nest 一 Acquired by Google for $3.2B

If you missed out on these spectacular early investments in the Smart Home space, here’s your chance to grab hold of the next one.

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Radical Efficiency: RYSE can starkly reduce energy bills, lower cooling costs by up to 24% and lighting costs by up to 74%, a revelation in carbon reduction efforts.

Invest in this exclusive public offering before RYSE is a household name.

3. Top Reads

• What if your Tesla could run on sodium? (WSJ)

• US stock bulls ignore 100 years of recessions at their peril (BB)

• Why a smattering of notable cyclical stocks are hitting 52-week highs (YF)

• Fox News settlement turns Dominion into private equity gold (Axios)

• Is it time to cash out your I Bonds? (BB)

• Managing rich people’s money isn’t always easy (WSJ)

• Tesla is a victim of a price war it started (CNN)

• Wall Street banks sailed through a quarter of collapsed lenders (BB)

• Meta’s latest layoffs cut employees in technical roles (CNBC)

• Apple bets big on India (CNBC)

4. Shortform Book of the Day: The Energy Bus

The Energy Bus, an international best seller by Jon Gordon, takes readers on an enlightening and inspiring ride that reveals 10 secrets for approaching life and work with the kind of positive, forward thinking that leads to true accomplishment at work and at home.

Jon infuses this engaging story with keen insights as he provides a powerful roadmap to overcome adversity and bring out the best in yourself and your team.

When you get on The Energy Bus, you’ll enjoy the ride of your life.

“You haven't failed until you stop trying.”

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5. Short Squeez Picks

• We make everything harder

• 10 ideas for more mental flexibility

• Why talking less will get you more

• 10 rules of philosophy to live by

• Use story to change your life

Get Our Best Selling Hat

“sounds good, will do” hat

6. Daily Visual: UK Inflation Not Cooling Down

UK Consumer Price Index

_{Source: Axios}

7. Daily Acumen

No one is as concerned with your excuses as you are; in reality, others hardly care.

When outcomes don't match self-perceptions, people tend to protect their egos by blaming others or circumstances.

Uttering phrases like, "It was a good idea but poorly executed," or "We did our best," are examples of this behavior.

While these explanations might be true, they don't matter to others. What matters is the outcome and addressing any remaining issues.

Just because something occurred beyond your control doesn't absolve you from dealing with it effectively.

Concentrate on the next step, as it will determine the ease or difficulty of your future.

8. Memes of the Day

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