FYI: When was the last time you asked a human for driving directions? One day, the same could be true for financial directions.
Though many already turn to so-called robo advisers for advice about where to put their money to reach their desired financial destinations, MarketWatch wanted to see if these directions are any good. So we asked four prominent robo advisers and four of the traditional, flesh-and-blood variety to construct portfolios for a hypothetical 35-year-old investor with $40,000 to invest.
Regards,
Ted
http://www.marketwatch.com/story/can-you-tell-a-human-financial-adviser-from-a-robot-2015-04-21/print
Comments
Step right up, try your luck ....
Result: Scored 100%
Regards,
Ted
When these robots sign-up and start posting here, then we got a problem.
John Hussman might as well be a robot. Wrong now for how many years? Would also explain why his photo on his website hasn't changed a bit over the last 15 years. Robots don't age like we humans.
If you are able to get 7/8 or 8/8 by just looking at the pie charts, I'm truly impressed by you, and depressed with myself.
Nope.............could be such a thing as how folks process layout patterns. Folks do see the same data in a visual field that is or is not as comfortable for input.
What if the data for the test was not pie chart, but bar graph?
I betcha' the numbers may change for the number of correct answers with a different visual.
I viewed the first set of data; but did not take the test.
I'm the head house cleaning person getting ready for guests in a few days.
A bit short of other time.
Take care,
Catch
Derf
Yes - I'm an average guesser - "perfectly normal" in every respect.
Ted? Ask him. My thinking is he finds hundreds of these quizzes every week. Did well on one of them and decided to post it. We'll know more when he responds to Old Joe's query above.
But seriously - do financial advisors employ artificial intelligence?
Possibly they benefitted from a superior knowledge of those fund symbols and were able to identify funds a computer might overlook.
The teachers hated it. I was supposed to use their system to figure out the problem which took much more time than the system I had. Perhaps much if this came about because I was in the generation of students that went back and forth between the old math and the new math.
Algebra was very hard for me as you might imagine.
Human advisers tend to concentrate on the major categories of US Stocks, Foreign Stocks, and Fixed Income. If a portfolio has 10% or more in the "Other" category, it is certainly a robo adviser. If the portfolio has less than 10% in the "Other", I bet that it is a human. This strategy gets 7/8 correct. It looks like there is one robo that is using a simpler, human-like allocation.
I still do a lot of simple math as you explained. However, through the 8th grade; when the math teacher would have a challenge in our class, lists of numbers to add were written on the blackboard and two students at a time would have a "race" to obtain the correct addition answer.
Myself or one neighborhood girl, were the winners most of the time. We both used the method you noted, and I still add what I call "clumps of numbers" together. I am usually able to obtain a correct answer with a good deal of speed.........in spite of my "old" brain cells. My mother also does simple math in this fashion. We have talked about this and she can not recall "teaching" this method. One may suppose this is a genetic trait, eh? The way some brains are wired. I find this method also very useful with percentages. I can't further explain any of this.
Take care,
Catch