The presentation, delivered by Gary Mishuris, CFA of Silver Ring Value Partners at VALUEx Vail in June 2025, explores how large language models (LLMs) such as Gemini 2.5 Pro and ChatGPT can be leveraged in the investment research process. It outlines a structured set of use cases for AI in investing, including idea generation, company analysis, framework-based evaluation, risk identification, and forensic accounting. Specific prompts and workflows are shared to demonstrate how AI can serve as a research assistant capable of synthesizing data, identifying red flags, and challenging investment theses. Mishuris favors models with strong reasoning capabilities and deep research features, suggesting Gemini 2.5 Pro and ChatGPT o3 as top performers for investment-related tasks.
The presentation also raises critical questions about the limitations and risks of using AI in investing. Issues such as source hallucinations, model bias, confidentiality, skill atrophy, and the potential for AI to encourage consensus rather than contrarian thinking are highlighted. The speaker emphasizes the need for human oversight, source verification, and prompt engineering skills, suggesting that while AI can streamline and enhance parts of the research process, it is not a substitute for independent analysis and judgment. The overall tone is one of cautious optimism—AI is portrayed as a powerful tool, but not a panacea.
Presentation summary generated by ChatGPT