Bill Cara
Menu

How AI is helping me finish my new book

November 29, 2024

AI has been criticized for producing plagiarized and reshuffled content from previous publications. I believe that to be true. In my case, however, AI has been instrumental in constructively criticizing my personal writing, helping me become a better writer. Here’s an example.

This morning, I uploaded the version 1 draft of a book I have been writing. To get to this point, I uploaded the Trader Wizard and Stock Market Literacy books and the 169 Gems document. I asked AI to use that material exclusively to meet a particular purpose. My goal is to help people understand markets and become successful investors. I must reach out to young people and others who lack the confidence to make investing and trading decisions and do it in as few pages as possible.

Today, AI gave me a first editorial review. The system generated several pages of helpful notes in about five seconds. I immediately followed up with a list of ten specific questions. Another five seconds later, AI helped me with the following report. I had my first article published in 1976, which won an award from the Canadian Business Press Association. Since then, I’ve published millions of words in books, articles, op-eds, and blogs. I have never had the benefit of support anywhere close to what AI gives me in seconds. Following numerous iterations of this process, each one taking mere seconds, my next draft will be much improved by the end of the day.

1. Where Could This Draft Benefit from Consistent Use of Direct Language Across Sections?

  • Chapters 2 and 4: These chapters explore abstract economic concepts and market structures but lack the direct, actionable tone of chapters like Chapter 6 (The How and When We Trade).
    • Rewrite sections to emphasize what readers should do rather than just explaining what is.
    • Example: Instead of “Macroeconomic trends influence trading conditions,” try “Identify macroeconomic trends, such as GDP growth or inflation, to adjust your portfolio strategies.”
  • Chapter 7: The discussion on “What Should We Be Looking to Buy?” provides general advice but could directly state the steps to evaluate an asset. For example, replace “Look for financially strong companies“ with “Assess financial strength using metrics like Debt-to-Equity and Current Ratio.”

2. Which Chapters Could Effectively Make Use of Storytelling?

  • Chapter 3 (Why Stock Market Literacy is Important):
    • Include personal anecdotes or historical examples of investors who succeeded or failed due to their understanding (or lack thereof) of stock market principles.
  • Chapter 5 (Traders Trade Prices):
    • Use a case study of a trader navigating price trends or anomalies to highlight practical applications of the chapter’s insights.
  • Chapter 12 (Selling Risk vs. Buying Opportunity):
    • A story of an investor who failed to cut losses or took advantage of market dips could make this chapter more relatable.

3. Which Chapters Lack Examples or Actionable Steps?

  • Chapter 4 (Investors Need Structure):
    • Add an example illustrating how to use GICS classifications or macroeconomic drivers to organize an investment strategy.
  • Chapter 10 (What is a Growth Stock?):
    • Provide specific examples of well-known growth stocks and how to evaluate growth potential using financial statements.
  • Chapter 20 (Trading Options and Derivatives):
    • Include practical scenarios for implementing strategies like protective puts or covered calls.

4. Which Critical Thinking Questions Could Be More Tailored to Chapter-Specific Content?

  • Chapter 6 (The How and When We Trade):
    • Current Question: “How do different order types affect your trading strategy?”
    • Tailored: “Which order type—market, limit, or stop—is most effective for managing risk in volatile markets?”
  • Chapter 13 (Understanding Bonds and Interest Rates):
    • Current Question: “How do changes in interest rates impact bond prices?”
    • Tailored: “How can you use bond laddering to manage interest rate risk in a rising-rate environment?”
  • Chapter 16 (Trading Common Stocks):
    • Current Question: “How can fundamental analysis help investors identify companies with solid growth potential?”
    • Tailored: “What key financial metrics should you prioritize when analyzing growth stocks versus value stocks?”

5. Which Jargon Can Be Removed to Achieve a Grade 10 Readability Score?

  • Replace macroeconomic drivers with economic trends.
  • Simplify leverage ratios to borrowed funds compared to equity.
  • Clarify bid-ask spread as the difference between the highest price a buyer offers and the lowest price a seller accepts.
  • Replace price motion as a function of time and space with how prices change over time.

6. Which Chapters Can Be Broken Down for Easier Consumption?

  • Chapter 2 (The Role of Money and Economics):
    • Split the discussion on inflation, Fed policy, and the global economy into separate subsections.
  • Chapter 14 (Trading Bonds and Bond Funds):
    • Create distinct sections for High-Yield Bonds, Government Bonds, and Bond Trading Strategies.
  • Chapter 20 (Advanced Trading Tactics):
    • Segment strategies (e.g., hedging, swing trading, pairs trading) into bite-sized sections with bullet points.

7. Where Are Tables Mentioned but Missing?

  • Chapter 6 (The How and When We Trade):
    • A table comparing order types (market, limit, stop) is discussed but absent.
  • Chapter 8 (What Defines a Quality Company):
    • A potential table listing quality indicators (e.g., revenue growth, profitability, financial strength) is missing.
  • Chapter 13 (Understanding Bonds and Interest Rates):
    • A table linking bond features (e.g., maturity, coupon rate) with interest rate sensitivity would be useful.

8. Additional Concepts That Could Benefit from Graphics

  • Risk vs. Reward: A quadrant chart comparing low-risk, high-risk, low-reward, and high-reward investments.
  • Diversification: A pie chart showing a balanced asset allocation.
  • Market Cycles: A diagram illustrating bull vs. bear market phases.
  • Technical Analysis: Sample candlestick patterns for trends and reversals.

9. More Title Suggestions

  1. “The Smart Investor’s Playbook: Winning Strategies for Modern Markets”
  2. “From Trading to Investing: The Essential Guide to Building Wealth”
  3. “The Maverick’s Edge: Investing for Independence and Profit”

10. Is the Book Likely to Be of Interest?

Yes, the book has strong potential to appeal to readers, especially those who:

  • Are beginner to intermediate-level investors seeking practical, no-nonsense advice.
  • Value insights from someone with real-world expertise in trading and investing.
  • Prefer structured frameworks and actionable steps over academic jargon.

Target Demographics:

  • Age Range: 25-50 years old.
  • Interests: Personal finance, trading, wealth-building strategies.
  • Professionals: Entry-level to mid-career individuals looking to grow savings or transition into investing.
  • Geography: Primarily English-speaking countries (U.S., Canada, U.K., Australia).

Marketing Recommendations:

  1. Platforms:
    • Focus on LinkedIn, YouTube, and Twitter for professional and financial audiences.
    • Use Instagram for visually engaging content (e.g., charts and graphics from the book).
  2. Strategies:
    • Launch a free mini-course or webinar covering a key chapter (e.g., Trading Common Stocks).
    • Publish excerpts as blog posts with tailored call-to-actions like “Get the full guide in The Maverick Investor.”
    • Partner with financial influencers to endorse and review the book.

Would you like any of these suggestions further expanded or refined?