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Think Tank 1010am mindless robots

Mar 1, 2017|

Did you know there are mindless robots running huge sections of the stock market? Are we investing in what robots dictate? This hours guest: Dr. Rajesh Naraynan - Cameron Professor of Finance @ LSU (International Banking Expert) Specialty is banking and financial markets.

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Automatically Generated Transcript (may not be 100% accurate)

Arab welcome back coal Bure had a Greg Monroe. One. Stretch of ambulances web. Twelve noon we're gonna talk about from speech and goes to. Listen hopefully. A regular body's gonna say what keeps saying that is in its because of the people that tune in for the first on and on and vote for drawn. I don't think that hide from. He worries me and water worries. I'd light. The bigs that its board says he's gonna do but I'd I don't think I'd see evidence that he's doing good spot. It gives bridge collapse lied to congress. And exe and then seven in yen. She added that trunk speech was for a big boosted optimism. Chris Wallace of Fox News. One too big for that so. Trump says appealing to my Donald Trump became the president of the United States. And one of the biggest creditable. You. Me and bug in the paint and Jones whose views often that that talking here it's. On the liberal media or the Los extraordinary moment you'll ever see an American politics period. Talking about. When the boards in the trunk so I was like we're gonna become a positive when it comes to trump in his speech at twelve noon. On 11 o'clock. Do anything from its border tax proposal to work them or birds simplify. But simple buying. But basically. It means. Anything we take in from Mexico or others gets acts and that's heavily. What we send out virtually didn't get tax at all and there's all kind of opinions were there and on. Good idea or bad we'll talk about that eleven Claude. And this or would talk about a number of things because of the news at Lawton. And I've read in Wall Street Journal last week's how dangerous is the stock markets opened mindless rule book. Could tens of millions of people investing in or I'll. Pushing an already expensive market even higher. Reload said the electric Dow hasn't been as I said record. News and among separate trumps election. Dallas had the tenth consecutive record closing. Role and or 20000. Wall Street Journal today global stocks joked as investors. Brokers. On the beds and four. Swords and it's getting very big one outside bird dogs and deliver exciting in the on this side. And can this continue. Often turn to doctor Raj Asians a rise in Cameron professor. And and it's only Schuman an actual banking doctor's orders. I appreciate it. My partner well that's stock marketed as sings to be growing it. The expert in Chile. And then at Havilland did sitting a big part of this stock market robots are both. Of them. Or buying with the old written. What do you think about the overall market bored you think about the Ruble. Well old world market going because. Corporate. Profits. Although investments or not. Now haven't increased the whole lot. Companies firms in the wood burning a lot of money back shareholders. Share buy back. The major on Tuesday and you're seeing investors. And I increase that market and that much in the mark and. Well. You know are people. Getting into the market because the markets are up. Or are are the market going up because people are getting again. But yeah but I. What your getting in in big number. One. They are and they are getting in big numbers. Even Blanton. The ball well. On the allocated yet these. Look at say index funds or exchange traded fund was a significant percent or 1% of apple. That was like around. 9899. Awed the market was still pretty hurry and then he did reach high and hand and went and the. And all that changed over the time period. A lot more app local rapidly. On the actual world that is the flow of the world book Eisner's. Into the traffic on the back and put in the market I do think that more and more training and allocated to me. These fund because the market because of these funds crack the market which has been. And in wildwood companies be funneling money back to observe shareholder. Mean. We always hear. How many competitors are registered. In Delaware but he really operate in Europe and Asia South America or whatever it may be eat. And then it won't pay the 35%. Tax on returning to prop it boots so and so what's going around. Well. In law so fly on the run yeah and beat profit endanger calorie. To build factories. Could extend it he would like defeat and. The next on the Internet. And a whole lot. From all of or these kind of goods and services. Full partner. We note that in fact. What they do. They don't want a great out there. The way we act in the Obey and we are higher. Share buybacks. And don't share buy backs have the wind we'll see. Our market. And if you give impurities stockholder. Helping Buddha. A buyback. Doesn't give you money extra money in your hand it could be taxed. Bunt. The amount of stock you have. Is higher value. Yeah. Probably potentially. In patent who shares evening now I want to share war. Quite as. In da boom boom or we'd take ruling that were observed. Everything has said that everything rich deserve deserves gonna be bringing in previous quarter important increases coming soon. With the feds. You out of only opened saying this this is probably coming housing market still going up is is that out of pods that. Well well the fact that have been. Willing to record breaker signaled that the economy eat there view shares. Of unemployment is low. In the fee. Economic growth takeoff but they're comparable. Or Google or rating rate. About the way the market interprets that signal and and our markets go up. America's attention. Yeah aren't ticker Branko questions comments you've got style and she invested. In the market. You enjoy even if you're not invested in the market at the market takes a big hit due organ and take a hit two home. It's kind of little linchpin Tora economy. Questions comments. We've got these expert two's are general ones that need somebody doubled up me. All right here's what her thing Cuba. Pretty jogged Bard's double bill bill pin poll. Did you know their mindless robots. Running shoe section of the stock market six improved send abuse say you know. I'm home with the I knew there was some of this. But Wall Street Journal had to consumers. With a prettier and introducing headlines. A dangers is the stock market of mindless robots could be millions of people investing on form pilot. Be pushing an already expensive market even higher. And with the ended pursing your read war. Leading. Robot. Advisors. In betterment Schwab cup down and cord. Some some the biggies. Abruptly and double their headsets in the past year to seven these seven billion dollars. Bruised robots. Run the show not totally but certainly a big part of that. Always turn to what doctor Drudge is no running and professor of continents over issues doctor. And this is Washington journal article and I've not given to root had a revision. One of the quote Jews today isn't ushers. Or in the products were willing to put time in energy and to search for Barton's. So investors buy and hold or at least in 10-Q and regardless of whether or entire markets were undervalued. Or overpriced. You agree that. Yes because the one that called park and then in. So Putin. Won the overall participation. The average American. Stock market increase. Primarily because. There retirement savings and now move gradually on these so called defined benefit plan to. Defined contribution plan. Which. Are. Thinking forward cave. Which are invested in the stock market shuttle and the same statistic but one matter to Americans. Homes actually care. And they're doing it not directly bio shared your own and he fraction of that share. Via mutual fund and the majority of the neutral funds on the same Arnold he could be. On that black market whole apple. Soul you're not. It was a team. Or connecting. We're just wallow in law swap of the market or the fact. And you know. Creepy your academic researcher. Bill you know at an investor you don't you benefit. From active in that you know there were aware of the fund manager. Expand the proper certain individual rock and then yeah. Or they get greater return I don't ban all those firms go to the amateur app you're immediately inspector. A net disease. Thought well what we pay the manager. And met up feed. The performance of active management doesn't seem to be any greater demand that happened. Which is. Unbelievable effort to follow the market. And we've now come up with really low cost alternatives to do that and and the world oh. Well me being in that thing where you said the world. And yeah it's just being allocated bury past. And rebound iron past. The old pop. You know I think the single biggest quote you and why you'd seen tremendous amount of mean so coal power and flawed. So again we have one more. Participation in the stock market because of the movement of retirement. Away from defined benefit of the corn congregation. In fact in. The move away from active the past local Patrick in which means they're now moving money away from. Individually. It is. Bought. Okay well of followed me and who's kind of throwing. Reading an article. About them please. Some driving boxes. Being incorporated in the airports. And parking lots and all the way eventually to units in Seoul. And in the wind would you read the engineers at pushing his cities say not many will proceed and ball in the accident and his country or human error. So if we get over a robot would you going to reduce that tremendously. Now. Take that. In this and every bit Japanese. Internet. Communications. John. Its called. Two about. Him and did Softbank. Group corporation. Begin. Two readable please phone read and and publications. In this trio comes out incentives with the and they were that would shorten on him. Robots will out number humans. And there were their intelligence. Will eclipse he movements so. When you look at robots. Investing who leaves a pretty good percentage of the market. And as yours that kind of docile. In deaths being Clinton in and leave it there and it won't with the markets. And long way of asking to robot. Eventually become a seat for what to win that. Yet but I'm wrong you know I think about her collection is our home base in Dayton. Philosophy wore prop up a robot and seems to common age you know moving. You know stop a war kinds of these. Do we we're investing and that's what happened here all the that is algorithms. Where I am and. So it's. It's just discipline those podiums set yourself every morning on. Street are coffee go work out that you'll swallowing a federal rule. And you're being disciplined the same way I hear you good design. Rule that. In the stock goes up by 20% right now in the top all like 1% Eid Al. You get. And all work and apple but a program. All the mob that. While he alien. War control in your investment. You very much what you're going if you're out thing. I'd rather. Put my money or entrusted to a fund manager. Group claimed to have killed in picking different kind of are. And hoped to make greater return to put what I see is that I knew that we had to act in the manager. Don't really make more than what it would make more angry. I would just follow these rules. Doctor and the rise and variances in times I appreciated called you have big Greek. And you know when you bring you listened to the doctor nude talk about people selling OK 12% to close one person burial so. And risk. That that look at hundreds and millions of different points. And then make a decision. And the question becomes. You become smarter and being human. Why do we were alive on whom are and so story. Broker to invest in the market. It's a big question but it's an interesting question sir but the well continued his spot. And Abu Dhabi now. Are you borrowed words were pretty good about something that. I don't think most people are aware or concerned. Our president jaguar a double double B and nimble do you know their Orton mindless robot. And streamline samples Lampard but the robot. Running huge section of the stock market 74%. And out where. And and I was not a high there. Blood shoot you look at the del via subpoenas that record times. I think over 20000. And then. After throne speech sort of signed yours Wall Street Journal. Global sought to jolt. As investors brokers. On pro. So. When we do look at. It could be good news for it stock market going down because to look at it doesn't matter. If you're not invested in the Mark Buehrle real sleepers. Or. You have your money and something now of their commitment to beat Cole. When the market goes down you get affected. If it goes a lot. I think we all get infected because. Injury free going to goodness forbidden elder depression. Those you view with gold. Can be a lot of people trying to get your gold. Just for food or water ridden my ability to build the stock market has picked. And the reason. I bring this whole world on Wall Street Journal article in the a bread numerous. Other articles on Davis. And the headline Borchardt two cents. How dangerous. Is the stock market of mindless robots. And their of their work non aligned. And then the system billions of people and a single and or pilot be pushing and already spent some market even. Higher. And big point now. Four leading. Advisors like swallow and cork. Or rule bowl in advise of sorts. Here's part of what they dues dictating. Our robots out rhythms map. And Gomes in two days have doubled our handsets. In the year. Is seven and seven billion dollars. And with the in the article says today's investors. Org and the prize is willing to put time and energy. In the search for bargain it's. Investors buy and hold. Regardless. Of whether entire markets were undervalued. Or were price. That sounds like of criticism. But if you read the of the financial. The stock market experts. One. At the of the nine. Stock market. Experts. Attempts to pick and choose. Stocks. They see you can endorse. Immediately it was son in regular little like with the others and overall. You lose money and while they. I think across the board suggest. For the average investor. Put too much in the end don't pull it out for decade. Stock market goes up and down but emotionally. At least historically. It's integral. Bird but again. I just have the expert. In Italy from banking and economics. From LSU and but if if if we're moving to driver whose cars. Of removing two bosses in airports. Would no drivers. When we knew here to beat technology to hold speak why they're doing it. 94%. Of humans are responsible parole accidents. So they'd turn it over to a man. And computers. And can learn that. Pro men itself and all of the root computers. Things are gonna get safer so. If robots more and more control bull market. There are not looking at. A 20% and up toward 20% down. They're looking at a quarter brilliant different points of X. Routine use. And making a decision. I go to India. Story you and your room and go news is big from about billionaire. And he's got a company. That does nothing. By a robot. And and there of these. Most successful. Company in the world when it comes from best thing in their expertise. So the question becomes is that the best and I think it's a good run. To me. It kind of sounds like a better ride yeah. Because you're a betting the broker Aurora new appliance or. To be Smart enough to beat the market. Your betting on something. That is constantly. Reviewing mathematics. Algorithms. The entire market. What would you think is this is a good idea or bad idea it's expanding. Very quickly. You agree or don't agree or have concerns or you'll like that Jews are juror wanted somebody dubbed. We're do we're definitely think about something different predator judge barred double double opinion poll. Did you know I'd. That there or robot roaming huge sections of the stock market. 7% of views ignore on Wikipedia. Would you Wall Street Journal article way Thursday. How dangerous it is stock market mindless robots. But geez you'd get into do you article and make some pretty good point to some manager. All the major for an eventual served some in Washington. Says quote. The market does have a major ranch. Don't read the hole and accurate count better. Even with the emotions. Or in how will root them. That's based. On breed thing that's happening in the market. There's no one gambled your journal and read so. All of those decades stocks in the US ruby automate. The robot and Belcher. There's much more common. Had significantly. Outperformed shares from the rest of the world. Yours structured treating it when he and I and point of time and their war long term average earning its. So. I mean this just shows story you know it's just important. But. I think could suggest. Biblical all the war rubles of human chunk judge. Michael says it's big because it is emotionally that it it's not. Tied to corporation that's not tied to and the buying mr. It's. A computer learning from within itself a computer or learning promote computer a computer learning from the market. Allred said I'm mortal recommended and our. I knew were to burden liberal publications called go or. He's pants and there's a scholar Robert Mercer and it got his ties and want it to a big data. Billion. And these funding all these on the web sites from waging war on the main treatment would would choose okay. But wanna point out some took notes. You just see or something called Renaissance technologies. And it's ahead for. Ended makes its money from Rome. I'll root them tomorrow and further on the financial market. One of its funds medallion you can look it up. Which manages only its employees mom Marley is the most successful. In the world. General rated it U five. Million dollars in off. Inherent what's in pursuit. Merger. What this company. Is isn't that sitting in public. In investing. In in shaping the American news. And the Al guru of bidders company had a bad dad when you talk to market people. They say he is doing incredible things. And whatever mechanism he uses as a black box. Nobody understands that he and his top exact. Want to shorten do. He's using it for. Politics. Would soon it could be advertising that could be bringing in giving. By looking aid baseball. YX. Are you grow on trees from cute like that. His sentence or at least the people who brag about what he does. That he is and robot to most potent open. Because using artificial intelligence. Told you all sorts of things about individuals. And how to convince them. And walked soared to overt. And you know the world will be one quarter and one of his people and animal in you know. Crawled through all the people in them that for now Bork who liked. What they'd like so you so you could spread out. And the new followed them in the computer. Never stopped learning. He had never stopped from Mon. So why every group putting in two inch regret. FaceBook. What are reduced social movement beat. These robot or moving from new one of the reporters won't robo of the articles Laguna and you said. I'm out on FaceBook and etc. and I decide to try and what did Robert Mercer called putting your hands. So we've tried to go and sell to what information we have from him is currently a beauty and indoor lights. And whose core blows. My guess oh my god they ignore my kids. Go to school. They know what my kids or putting porn in zug Graham. And all of the products the experts that technology is to look at this. Say biz can you do use. To shape our opinions without optional. X but then troops beauty of technology out talked about it a lot and we're seeing more and more example it's this is. And a BO brigades ebony and Hamlin applied three different. Our children spectral. Of wanna think all of those Serb germs and turn sure of salt to Brian. Writes. Quick. Quick compassion response. To hit the wrong. To my own producer. Ellen Centennial Metairie road during a lot of world. Should bugged so we're drug obscene spread throughout. Residential neighborhood about 330. Anyone with the information about and that is. It was called climbed to 63000. But the primary vote goods news on officer. Bryan Price. While. Asked for a response could have been die each year. I had an accident alone and veterans have the same thing from jobs and parents that he's showing up within ten minutes. Incredible job.