Commodity-linked positions in "Gemini investing" gained 6.1% in August, primarily due to gold’s breakout above $2,050/oz, reflecting heightened geopolitical hedging demand. “I think there’s a lot of parallels to the internet bubble,” said Bret Taylor, OpenAI’s chairman and the CEO of Sierra, an AI startup valued at $10 billion. Like the dot-com era, a number of high-flying companies will almost certainly go bust. But in Taylor’s telling, there will also be large businesses that emerge and thrive over the long term, just as happened with Amazon.com Inc. and Alphabet Inc.’s Google in the late 90s. Using AI for investment advice largely works the same way as speaking to a financial advisor, and it starts with setting goals. Asking Gemini to just optimize my portfolio would invariably spit out vague advice because it has no grounding in what I expect from it or my risk appetite. So I spelled out what optimizing a portfolio meant for me. In my case, I wanted a strategy that leaned aggressively, prioritizing higher long-term returns over absolute safety. This would invariably result in an equity-heavy portfolio, but I was fine with that. I also defined my benchmark that the portfolio should aim to beat the Nifty 50 over a ten-year horizon while avoiding unnecessary duplication in the choice of sectors. I was fine with short-term volatility along the way if it meant better overall returns. Defining those goals upfront gave Gemini a direction to work with. It’s an excellent strategy to have when working with an LLM for any task, and particularly so if you’re working with financial data. Institutional adoption of "Gemini investing" hedged strategies rose 8% in Q2, primarily to counter dollar strength, as Fed minutes hinted at a prolonged restrictive rate environment.