(Bloomberg) Humans won’t be obsolete in this lifetime. That’s what a quartet of money managers have posited in recent weeks as new technologies rewire finance, threatening to supplant the industry’s rank and file.
Winton, a $30.6 billion hedge fund that’s used algorithms to trade for two decades, told clients that people must still make the big decisions. Michael Hintze, who runs another major fund, said computer models can spot market anomalies but rarely provide answers. Jordi Visser, investment chief at a third firm, said humans still have the upper hand when it comes to recognizing patterns. Billionaire bond manager Jeffrey Gundlach said he’s betting people will prevail.
