AI Investors Must Be Selective, Tuttle Capital Management CEO Says -- WSJ

Dow Jones2023-04-14

By Jack Pitcher

The introduction of artificial intelligence-powered chatbots such as ChatGPT will upend innovation and technology investing--but investors should be wary of a dot-com bubble repeat, says Matthew Tuttle, CEO of Tuttle Capital Management.

Speaking Thursday during a Wall Street Journal Q&A about Cathie Wood's ARK Innovation fund, Mr. Tuttle emphasized the impact AI will have on markets.

"AI is going to change everything, and certainly now you're seeing all of the technology companies pivoting toward AI," said Mr. Tuttle, who created an exchange-traded fund that allows investors to short Ms. Wood's ARKK.

But Mr. Tuttle warned of similarities to the dot-com bubble as many companies rush to say they're working on AI.

"Just because a company says 'We're involved with AI' doesn't mean anything. But the company or companies that really take this over and run with it, those are going to be the next group of leaders," he added.

Mr. Tuttle discussed the merits of owning growth-oriented technology companies with Art Laffer, president of Laffer Associates and advisor to ARK Investment Management, in a discussing moderated by the Journal's Gunjan Banerji on Thursday.

View the full discussion here:

NOTE: In-line links reference additional content of interest chosen by the WSJ news team.

This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).

(END) Dow Jones Newswires

April 13, 2023 12:45 ET (16:45 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.

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