Billionaire wealth manager Peter Mallouk has 3,400 clients worth at least $25 million. Here's how he's telling them to navigate AI chaos. [Business Insider]
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Source: Business Insider
Have an account? Log in Peter Mallouk says his clients are more diversified than ever amid AI's transformative impact on industries. AI's rise is causing unpredictable bouts of market volatility across stock sectors. Mallouk suggests investors diversify more than before, and avoid trying to rotate too often. Peter Mallouk , the billionaire CEO of wealth management firm Creative Planning, says AI isn't like any past technology cycle — it's far more transformational, and that calls for investors to take action in their portfolios. Mallouk told Business Insider that he's convinced AI is more impactful than other technological advancements by a long-shot, and the change it creates will likely be permanent. "I think it's more than the internet, where the internet made everybody more efficient, or Microsoft with all their tools made everybody more efficient. This is something that removes 95% of the work in some roles. This is going to be truly transformative — like completely
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