I'm struggling to reconcile 3 facts: i) if you think robots can invest, I have an Eiffel tower to sell (**) ii) Nutmeg is a Roboadvisor with 9m£ turnover and -21m£ P&L iii) JPM just paid 700m£ for it. Hey, JPM, if I put a robot costume on, will you pay me 700m? (**) T&C apply
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I can see software being useful to make suggestions for tax loss harvesting. But when it comes to pulling the trigger as to actually when to buy and sell, the investor ought to make that choice.
Sir can I introduce you to a small firm called "Renaissance Technologies"
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If you think Nutmeg produces the same performance as Renaissance, I have another Eiffel Tower to sell
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The market for Eiffel Towers is very deep & liquid
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Makes no sense to use Renaissance as justification for roboadvisors working Robo advice is laughable imo. Unless the advice is 60/40… in which case it’s useless
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Yeah that was ... not my point
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