2024-06-20 07:53:56 ET
Summary
- IRBO ETF now more skewed towards large cap, AI-related stocks with high valuations.
- Disillusionment in AI market may mean some of the current revenue is non-recurring for the industry.
- The basis for major LLMs is training to be convincing, not correct.
- We think the complexity of a topic like AI makes it almost inevitable that it will be a lot more challenging than expected to bring it to the hoped-for level.
- IRBO, while somewhat exposed to AI, isn't really an AI ETF, though. In general, its mixed mandate has made its management fee unattractively expensive.
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IRBO: AI Is An Uncertain Option, Therefore A High Premium