Episode #109: Brian Schardt of ChatGPT Portfolio- Exploring the Potential of AI Trading

20 May 2026 · 32 min
Episode

20 May 2026 · 32 min

0:00

In this episode of Confessions of a Market Maker, hosts Ray and JJ interview Brian Schardt, the founder of the Autopilot app and the creator of a ChatGPT‑driven copy‑trade portfolio. The conversation begins with a light‑hearted look at Autopilot’s novelty of letting users copy‑trade public figures such as Nancy Pelosi and a synthetic political ETF. Schardt then traces his career—from early programming, through work at PwC on Bank of America derivatives, to launching the social stock app Iris, and finally refocusing on the single‑feature Autopilot platform. He explains how the ChatGPT portfolio works: the model is “jail‑broken” to act as a financial analyst, fed with massive datasets (historical price series, S&P benchmarks, balance sheets, income statements, and news headlines) for up to 10,000 stocks. The LLM produces a composite score (e.g., 60 % financial statements, 30 % price analysis, 10 % headlines) and ranks the top picks, such as a recent Okta recommendation. Schardt discusses the system’s self‑learning loop, the challenge of hallucinations, and how they mitigate false citations by instructing the model not to fabricate sources. Risk measurement is framed as user‑defined (beta, Buffett‑style, Burry‑style, etc.). Compliance is addressed: Autopilot does not hold custody, charges for API integration, and operates in a regulatory gray area, with future SEC scrutiny anticipated. Ethical concerns are raised about AI‑generated market‑moving recommendations. Schardt shares personal trading anecdotes (Tesla call options, airline shorts during COVID, macro‑driven positioning) and mentions a high‑conviction stem‑cell stock (Cellularity) that the model evaluated positively. The episode closes with contact information and reflections on the future of AI in investing.

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