Chris’ note: Today we turn to trading legend Larry Benedict.
Longtime readers know Larry as the former hedge fund manager who went two decades without a losing year. This secured his spot in the classic book on the world’s greatest hedge fund managers, Hedge Fund Market Wizards.
Simply put, Larry is one of world’s most prolific moneymakers. And now he’s got his eye on an alternative way to play the megatrend sweeping the markets right now – artificial intelligence or AI.
You see, a market event is just around the corner. And it’s going to hand traders an opportunity to profit from this megatrend without buying Nvidia or any of the other hot AI names.
Larry calls it the “7-Day AI Blitz.” In the past, similar blitzes have given traders the chance to double their money… or much more.
To learn how to profit from the 2023 blitz, automatically save your spot for Larry’s AI Blitz event tonight at 8 p.m. ET right here. Then read on below for more from Larry on this alternative way to play the AI boom.
Times have changed…
In 2017, a survey asked 1,500 business leaders how familiar they were with AI.
Only 17% said they were familiar with the term. Most weren’t aware of what it was or its potential impact on their company.
A new survey this June found that nearly 75% of business leaders felt pressure to integrate AI into their companies.
As one chief technology officer put it, “Business leaders understand that AI and machine learning are critical to success in the future of work.”
That’s a profound shift in just six years.
And interest in AI has grown sharply this year with the development of ChatGPT and other AI chatbots.
Businesses are already using ChatGPT to help with customer support, social media engagement, email management, content creation, idea generation, competitor analysis, data management, and more.
And although many of these new technologies need to be fine-tuned for efficiency and accuracy, it’s clear that AI isn’t going away anytime soon.
In fact, many believe AI will lead to as big a change in our daily lives as the internet.
And major money is flowing into this space as a result. Goldman Sachs reckons businesses will spend $200 billion on AI over the next two years.
And PricewaterhouseCoopers – one of the big four accounting firms – says AI will add $15.7 trillion to the global economy by 2030.
That means we need to pay attention to this trend as traders…
AI High-Flyers Are Coming Back Down to Earth
This year, the frenzy over AI has dramatically boosted the stock market.
Year to date, the tech-heavy Nasdaq is up 32% off the back of excitement around AI.
And AI-related stocks have zoomed to double- and triple-digit gains.
From the start of the year to its July peak, AI chipmaker Nvidia soared as much as 237%.
C3.ai, which specializes in AI apps that optimize business processes, was up 314% for the year at its June peak.
And Symbiotic, which uses AI in robotic automation solutions for supply chain and warehouse management, surged over 432% by the end of July.
Even Google, Apple, Amazon, and other mega-cap tech companies have benefited from the hype. They’ve seen their shares rising as much as 54%, 51%, and 66%, respectively.
As a result, it’s tempting to look for any AI stock and buy as much as you can.
But recently, many of these high-flying stocks have pulled back along with the overall market. Some have slid 30% or more from their peaks.
That can make it tricky to figure out how to play the AI boom.
After their steep runups, these stocks are due for a breather before their next upturn. And the last thing you want is to buy at a peak.
That’s why I’ve come up with an alternative way to play the AI trend.
7-Day Blitz Is Coming
A market event is just around the corner… and it’s going to hand us an opportunity to profit from AI without buying Nvidia or other hot names.
I call it the “7-Day Blitz.” In the past, similar blitzes have granted traders the chance to double their money… or much more.
Don’t just take my word for it. Here’s what one of my subscribers told me via email…
This week YOU made a major believer out of me. I netted [a] 180% return… THAT is THE BEST gain over 2 hours I have EVER obtained.
My little $6,706.80 turned into $23,393.20! (up $16,686.40) 248.79% gain! Best trade of my life!
And even rookie traders can use this strategy. From another of my subscribers…
This was my very first trade… and I’m happy to report that I made over $1,500 on it on only one option. Would love to see more of these as it’s my first time trading options this way. Thank you so much!
That’s why it is so important for you to join me tonight at 8 p.m. ET. I’ll explain the opportunity before us at my 7-Day AI Blitz event this evening.
I’ll also reveal my alternative way to profit from this AI boom. So, RSVP with one click here.
This is a trading event you won’t want to miss. I look forward to seeing you there.
Editor, Trading With Larry Benedict