QOTD: T Rowe Price says humans “will be mostly replaced”

“Having a human is still important. Humans aren’t going to be completely replaced, but they will be mostly replaced... Our humans have done pretty well compared to most humans, but we definitely see a trend where machines do more and more in markets...They’re becoming more powerful, so they’re going to do more.”

- Sudhir Nanda, head of quantitative management at T. Rowe Price, a $761 billion asset management firm

This relates a bit to what I said over the weekend about bad active management no longer being an easy business. There’s going to be a lot more measurement now in the mutual fund companies, and measurement is not always the friend of human investment professionals.

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