Want to invest like Warren Buffett?

You’ve got a few options – some better than others.

Option #1: You can enroll in Columbia University, study under one of the greatest investment minds of all-time, dedicate yourself to security analysis, eat McDonald’s and drink Coca-Cola products on a daily basis, and then earn a 3,787,464% return over 58 years.

This is probably the most difficult.

Option #2: You can copy Berkshire Hathaway’s portfolio through 13F filings.

This is a lot easier. The problem is 13Fs are occasionally outdated, meaning your returns won’t be as impressive.

Option #3: Train three large-language AI models (LLMs) on Warren Buffett’s entire investing history until it can generate similar investment ideas on its own.

This one is also difficult.

The good news is someone did the work for us:

“Fintech startup Intelligent Alpha is launching a chatbot-powered ETF that promises to harness the brainpower of the investment world’s most illustrious minds — Warren Buffett, Stanley Druckenmiller, David Tepper, and more.

The firm, with roots in engineering and emerging technologies, will instruct the large language models (LLMs) to emulate the investors’ personalities. The firm’s first ETF, which emulates legendary trader Jesse Livermore, began trading Wednesday under the ticker LIVR.”

Here’s how it works:

“A human analyst (the “Analyst”) establishes the Intended Strategy for the underlying portfolio. …

A large language model, which is a type of AI algorithm that uses deep learning techniques and massively large data sets to understand, summarize, generate and predict new content, is consulted to identify 4-6 major trading trends inspired by the greatest traders in the world. The Analyst will define the list of famous traders and investors for the AI by reviewing long-term (5 years or greater) track records of famous investors as compared to broad market benchmarks, which will vary based on the nature of the trading trend(s) observed. A major trading trend is a clearly defined and articulated trading view expressed by the famous trader. …

The AI will analyze numerous information sources (such as 13F filings, public statements, and interviews) relating to the identified traders and trends when conducting its overall analysis. …

The Analyst gathers the details, information and Philosophy set forth in Step 1 and translates them into an instruction set to be submitted to three large language models (the “AI Models”) for portfolio creation. Each AI Model is similarly instructed to review the data and instructions to create a portfolio of up to 20-30 stocks each, including weights for each position.”

It’s important to know these ETFs don’t track great investors like Warren Buffett and Jesse Livermore.

These AI-powered ETFs use AI technology to invest like them.

Theoretically, the Intelligent Omaha ETF, which will invest as if it were Warren Buffett when launched, will be emulating Buffett’s “long-term value” strategy well after he’s gone.

Also, according to the LIVR ETF current holdings, AI says that if Jesse Livermore were alive today, his top holdings would be Meta Platforms, Nvidia, Taiwan Semiconductor, PDD Holdings, and Procter & Gamble, in that order.

The list of personas targeted by the ETF – besides Buffett and Livermore – will eventually include Stanley Druckenmiller, David Tepper, Dan Loeb, Paul Singer and others.

It will be interesting to see what stocks AI determines these investors would hold, especially given the fact everyone other than Livermore is still very much alive and actively investing today.