Oh money managers, what you have heard is true; Robots ARE taking your jobs. AND clients. AND your AUM. So, unless you are a 'coder' who can write algorithms with your head plugged into an electrical outlet, consider this career changing idea. Concentrate in areas of new inefficient markets that can't be programmed yet. There are lots of them that humans still have an edge in....for now anyway. So, read up and explore. I would tell you a few, but I'm busy studying.
(Bill Taylor/CEO)
Rishi Ganti used to help manage the personal fortunes of hedge fund founders David Siegel and John Overdeck, whose quantitatively driven strategies turned them into billionaires. Ganti, 45, says he’s glimpsed the future of his industry. A wave of coders writing self-teaching algorithms has descended on the financial world, and it doesn’t look good for most of the money managers who’ve long been envied for their multimillion-