I, For One, Do Not Welcome Our Dumb Robot Overlords
From the FT: stock in Berkshire Hathaway, Warren Buffet’s company, jumps every time Anne Hathaway, the actress, gets a lot of media play.
Why? The claim is that it’s the fault of robotrading algorithms, which now account for most of the market, and which sometimes rely among other things on trends in news coverage.
That’s the kind of dumb mistake human traders wouldn’t make. Unfortunately, they’d make other kinds of dumb mistakes.
Saturday, March 26, 2011
Robot Trader
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1 comments:
Well, the error related was due to the fact that there is an actress also named Hathaway, but the robot really wants to buy stocks of Berkshire when it is on the news. If Berkishire is fashion, buy it! That's the kind of errors humans do.
So I really appreciate this robot. I mean, I appreciate that others are using this kind of shit.
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