This is related to my last post. The title sums it up pretty good.
Want to Protect Your Wall Street Job From Robots? Learn How to Code
https://www.bloomberg.com/news/articles/2017-10-19/coders-who-trade-wall-street-designs-its-staff-for-the-future
Author Archives: efficientminds
Citi Wants Analysts to Add Python to List of Languages on Resume
I tell students over and over: if you don’t get comfortable building, using, and maintaining robots (e.g., code), you will be replaced by them. I integrate R programming into my finance courses to get students familiar with coding. Many do not like it, but hopefully some day down the road they will thank me for having them “lean into the discomfort.”
-Dr. Moore
Citi Wants Analysts to Add Python to List of Languages on Resume
https://www.bloomberg.com/news/articles/2018-06-14/citi-wants-analysts-to-add-python-to-list-of-languages-on-resume
Math Geeks Must Wait 100 Years for a Day Like This
Happy Phi Day everyone!
Math Geeks Must Wait 100 Years for a Day Like This
https://www.bloomberg.com/view/articles/2018-06-01/math-geeks-must-wait-100-years-for-a-day-like-this
Wells Fargo Still Hasn’t Gotten Ahead of Its Problems
Again? Last week there was a report of over-charging pension plan customers. This week modifying business loan customer documents without their permission. When will this end at Wells Fargo?
Wells Fargo Still Hasn’t Gotten Ahead of Its Problems
https://www.bloomberg.com/view/articles/2018-05-17/wells-fargo-still-hasn-t-gotten-ahead-of-its-problems
Robots Challenge Banks in Sweden’s $524 Billion Savings Market
Again, get comfortable building, maintaining, and using robots or you will be replaced by them…
Robots Challenge Banks in Sweden’s $524 Billion Savings Market
https://www.bloomberg.com/news/articles/2018-05-15/robots-challenge-banks-in-sweden-s-524-billion-savings-market
At NYC’s Big Crypto Conference, the Lamborghinis Are Rented and Protests Are Staged
For those who take crypto seriously, here is an example of the artificial nature of the hype. A Bitcoin exchange operator charging exorbitant fees ($1,500) for conference attendance, renting Lamborghinis to place out front, and hiring actors posing as bankers protesting the disruption by crypto currency.
Buy into the hype if you wish. The deceit is hidden in plain sight.
-Dr. Moore
At NYC’s Big Crypto Conference, the Lamborghinis Are Rented and Protests Are Staged
https://www.bloomberg.com/news/articles/2018-05-14/staged-protests-rented-lambos-show-bitcoin-hype-alive-and-well
Graduates: Here’s an Honor Code for Life – Bloomberg
Fidelity Fires About 200 Workers for Abusing Company Benefits – Bloomberg
If a brokerage employee, perhaps including brokers themselves, would pursue self-interest and exploit a company program, what would they do to their clients? And who says things like the fiduciary rule are unnecessary?
One thought is the rule can not “legalize morality.” Rather, the rule is needed to provide a stronger legal basis to seek damages when humans are caught pursuing self-interest (being human).
Regardless, buyer beware, including buyers of financial services.
Fidelity Fires About 200 Workers for Abusing Company Benefits – Bloomberg
If a brokerage employee, perhaps including brokers themselves, would pursue self-interest and exploit a company program, what would they do to their clients? And who says things like the fiduciary rule are unnecessary?
One thought is the rule can not “legalize morality.” Rather, the rule is needed to provide a stronger legal basis to seek damages when humans are caught pursuing self-interest (being human).
Regardless, buyer beware, including buyers of financial services.
A Small College’s Endowment Manager Beat Harvard With Index Funds – Bloomberg
Let me begin with a quote from the article:
“Some of the world’s sharpest investment thinkers, including Warren Buffett and Nobel laureate economist Eugene Fama, have endorsed the idea that most investors should track the market at the lowest possible cost. ”
Furthermore, the college will not replace the manager when he retires in June. The endowment management is so simplified that the team of volunteers can continue instead of hiring another person. Now that is low cost. Sounds like one example of a real life Occam’s razor.
-Dr. Moore
Efficient Minds™ 