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At Moneycontrol’s Global Wealth Summit, author Morgan Housel made a bold claim: artificial intelligence (AI) will undoubtedly transform the world—but that doesn’t mean investors will make money from it.
Housel, known for The Psychology of Money and Same as Ever, argued that history is full of transformative industries that failed to generate consistent returns for investors. “Look at railroads in the 1800s,” he said. “They were the most transformative industry of their time, but almost every railroad investor lost money. The same happened with…
