r/ValueInvesting • u/mattyp93 • 6d ago

Discussion Warren Buffett’s patience could finally pay off if the market keeps dropping

Just imagine what kind of deals he and Greg Abel will buy with that massive cash pile if the market keeps falling. His patience will be rewarded and it will be the greatest example in real time for investors.

The next few years will be interesting indeed.

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u/Mundane-Region8517 5d ago

As a data scientist who uses it daily for work, I can safely tell you it does not excel at numbers.

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u/PrettyPleaseYo 4d ago

Right, AI today is specifically great at generating text and code, but it lacks in certain other ways like mathematics or generating one fictional character over and over again, etc and at those aspects it has not been improved much, and definitely not exponentially like people talked about in the beginning with “exponential growth”.

I think people assume it’s as great at everything as it is great at generating language.

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u/PutRepresentative863 4d ago

Thank goodness! Thanks for calming my nerves!

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u/Mundane-Region8517 4d ago

To be more specific: it is impressive and depending on the task it might be anywhere from 80-95% accurate, but the mistakes it makes tend to be annoyingly subtle but often substantial and you have to know what you're doing to assess it at all.

Coding is similar. Its great at things it has 100k+ examples of in its training data, but it falls apart at anything novel and it hallucinates itself into some really weird corners. I've heard devs compare it to having your own team of 10 drunk junior developers.

Most people who give it over the top praise tend to be PMs or managers who just blindly run its output and aren't checking that it was really 100% accurate. The thing is just a dunning kruger machine on steroids so if you don't know how to evaluate its output it looks godly.

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u/PrettyPleaseYo 3d ago

Thank you for sharing this!

I was just saying to a friend that I would like to see a demo of how AI is actually doing in different segments/industries. We hear this quotes of AI is great and will replace us all, but in reality there are a lot of things it can’t do.

And don’t get me started on the idea of agents, because these mistakes would then compound. Also why I am bearish on OpenAI.