January 2024 – Stock investment using only Canadian ETFs 3 – AI (Artificial Intelligence)
hello. This is Mickey Hani. Recently, my personal interest in AI (Artificial Intelligence) has been increasing. AI has been a hot topic for quite some time, but personally, I thought it was not showing the same level of innovation as the iPhone, but that opinion is gradually changing.
Because I work in software-related work at a bank, I used to think a bit conservatively, but I feel like the AI results I’m hearing more and more about are now at a level that can’t be ignored.
I expected that AI-related stocks and EFTs were probably currently at the most expensive prices, so I looked for AI-related ETFs that could be purchased in Canada.
BOTZ
It is a representative AI ETF, but surprisingly, it peaked during the Covid Pandemic, went down in 2022, and rebounded in 2023.
However, when I look at the top 10 companies I own, the only company I know of is NVIDIA Corp. This isn’t an AI-related stock I know…
The AI-related stocks I was thinking of were companies with generative AI services such as Microsoft (ChatGPT) and Google (Gemini), but the ETF above doesn’t seem to be the ETF I was expecting.
However, when I think about what these AI-related companies have in common, I think they are what we commonly talk about as Big Tech companies. People say that generative AI costs a lot of money in the beginning and is difficult to create and operate, but in the end, the only companies that can actually implement it are the so-called Big Tech companies in the United States.
So, after going around, I ended up with Nasdaq100 ETF (HXQ.TO).
As a representative AI company, Microsoft (MSFT), the major shareholder of OpenAI, rose 62% over the past year, and Nasdaq100 ETF (HXQ.TO) rose 46%. At this rate, it would be better to just buy the Nasdaq 100 and have peace of mind.
So today, I gave up on buying AI-related ETFs and just thought about buying more HXQ.TO. lol
Recently, it is said that it is difficult to predict the future due to the risk of war and economic recession that is taking place in many parts of the world, but in this case, Big Tech and Nasdaq 100 alone seem to be the answer, so I will move a little more from HISA Cash ETF to HXQ.TO in the near future. I’m thinking about doing it.
Then, try your best this time too.
