The Power of a Machine

People don't often think about, for example, in the done capital world, what a machine is doing. I mean, it's taking the rules that your firm thinks are wise for buying, selling the right percent to bet based on the capital under management and automating that into a process. It's kind of a strange thing that after all these years, frankly, decades that that still can be misrepresented. The machines don't have panic, but there's a certain threshold where you start with volatility increases - so they reduce their positions because risk has increased.

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