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David Booth, founder and chairman of $1.1 trillion Dimensional Fund Advisors, says investors do not need artificial intelligence to identify the next great stock because the market already processes the information for them.
"Can you beat it? Can you pick stocks? Do you need to? No," Booth told CNBC's Squawk Box on Tuesday. "It's a waste of time."
That skepticism about picking winners extends to the AI boom. Booth argues that AI can transform the economy without today's biggest beneficiaries staying dominant. He did not name Nvidia Corp. (NASDAQ:NVDA), but the $5 trillion-plus chipmaker sits squarely at the center of that debate.
Booth pointed to the market's long-term returns, saying an investor earning 9% annually would double their money roughly every eight years.
#david #advisors
David Booth, founder and chairman of $1.1 trillion Dimensional Fund Advisors, says investors do not need artificial intelligence to identify the next great stock because the market already processes the information for them.
"Can you beat it? Can you pick stocks? Do you need to? No," Booth told CNBC's Squawk Box on Tuesday. "It's a waste of time."
That skepticism about picking winners extends to the AI boom. Booth argues that AI can transform the economy without today's biggest beneficiaries staying dominant. He did not name Nvidia Corp. (NASDAQ:NVDA), but the $5 trillion-plus chipmaker sits squarely at the center of that debate.
Booth pointed to the market's long-term returns, saying an investor earning 9% annually would double their money roughly every eight years.
#david #advisors
13 days ago
