QUOTE(catherintherye @ Mar 2 2021, 11:22 AM)
Now they don't even hire hedge fund managers and staffs to look at your portfolio...save cost $$$ hiring these professional managers.
1 guy create software robo invest....with some algorithm logic to decide which conservative, which high risk and you stuff money into it and AI decide for you.
The guy who create the software smart guy and earn a lot. Warren Buffet team got competition already and many other mutual fund group.
Fintech is great....AI is great
Ai does not really decide much except automate the purchase and sales and also just manages the fringes of the portfolio imbalance and overloads when certain asset weightage exceed the fixed portfolio balance. IMHO this is a great task for automation as it humans are wasted if everyday employed to babysit your portfolio balance just to follow a fixed formula anyway.
This is no different from atm machine taking away the job of the teller.
Warren buffet team has always competed against mutual funds, active stock picking and passive indexing.
The only constant is change, and its profitable to embrace it.