IBM Watson says gold is very underpriced

[JohnnyFactor]

In 2016, IBM fed financial data to Watson and asked for an analysis of the true value of gold. Watson concluded that gold was priced at about 2001 levels, in relative terms. Extrapolating forward to a future 2011 peak would mean gold would be $9,600 by 2026.

Of course, leave it to humans to come up with spurious correlations (myself included).

https://www.ibm.com/communities/analyti ... l-markets/

[ochotona]

Rickards came up with $10,000 an ounce. Interesting.

[dualstow]

Johnny, I love it!

Look at the SIZE of the bubbles in 1998-2002 compared to today. Today, the bubble is dwarfing the size of the 1998-2002 bubbles!!!! This means that gold stocks are lower today with a gold price of $1200 US compared to when the gold price was at $255 in 2001! Wow… This is absolutely absurd if you think about it.

[dualstow]

Of course, leave it to humans to come up with spurious correlations (myself included).

P.S. I've always been suspicious of bedsheet tangling and cheese consumption.

[JohnnyFactor]

Yup. I can tell you from experience, binging on pizza before bed often leads to that.


Seeing the possibility of $10,000 gold makes me want to convert more to physical while it's still cheap. Imagine paying a $500 markup per coin.

[smither17]

Warren Buffett says IBM's computerized reasoning unit Watson has extraordinary potential and such innovation should one day supplant people. The tycoon financial specialist revealed to CNBC a week ago he sold about 33% of his stake in IBM in the initial two fourth of this current year. Buffett said Watson has so far not executed too economically as trusted.Warren Buffett says IBM's artificial intelligence unit Watson has great potential and such technology should one day replace humans.The billionaire investor told CNBC last week he sold about a third of his stake in IBM in the first two quarters of this year.Buffett said Watson has so far not performed as well commercially as hoped.

IBM started working with Goldcorp’s exploration group last summer to determine how cognitive computing could improve the company’s mineral exploration program, starting with the Red Lake District.The first phase of the program (which is still in process) involves providing Watson with structured data from a wide range of sources, such as geophysical and geological surveys, drillhole datasets, reports, academic papers and conference proceedings, to providing insights into Red Lake’s geology, current and historic mining and exploration activities and successful exploration techniques.“Phase two is where we start to educate Watson to refine and build the exploration model the system will use to make predictions and provide recommendations on where Goldcorp should direct its exploration activities,” says Piotrowski. In an aim to provide a wider perspective on exploration techniques, Goldcorp plans to work with leading universities to access top talent in earth sciences in educating Watson.

[dualstow]

A lot of repetition/restatement in paragraph 1.
I have a sneaking suspicion that smithers17 is in fact IBM's Watson! (shocked smiley)

[smither17]

IBM started working with Goldcorp’s exploration group last summer to determine how cognitive computing could improve the company’s mineral exploration program, starting with the Red Lake District.The first phase of the program (which is still in process) involves providing Watson with structured data from a wide range of sources, such as geophysical and geological surveys, drillhole datasets, reports, academic papers and conference proceedings, to providing insights into Red Lake’s geology, current and historic mining and exploration activities and successful exploration techniques.Phase two is where we start to educate Watson to refine and build the exploration model the system will use to make predictions and provide recommendations on where Goldcorp should direct its exploration activities,” says Piotrowski. In an aim to provide a wider perspective on exploration techniques, Goldcorp plans to work with leading universities to access top talent in earth sciences in educating Watson.

[JohnnyFactor]

IBM has the potential to become the world's largest company but, at the moment, management seems hellbent on destroying it. They snowed Warren Buffett into thinking IBM was a good buy (it wasn't) and now it's backfired on them.

I personally like Watson-- especially if it can tell me when to buy gold! Hey smither17, what do you think?