Wrong-way AI trade costs Florida stock-picker US$50 billion (opens original article in a new tab)

A Florida-based stock-picker, Polen Capital, lost US$50 billion due to incorrect AI-related investment choices, with its flagship fund down 45% from 2021 peaks.

• Polen Capital's flagship fund lost 45% from its 2021 peak due to poor AI-related investment decisions.
• The firm's assets dropped by 60% or nearly US$50 billion over four years as clients and staff left.
• Polen initially avoided Nvidia, favoring software stocks like Adobe, but later relented after the stock surged 400%.