4min chapter

We Study Billionaires - The Investor’s Podcast Network cover image

TIP545: The Third Sea Change Has Begun w/ Howard Marks

We Study Billionaires - The Investor’s Podcast Network

CHAPTER

The Future of Investing Without People

In the last 45 years or 55, it became impossible for people to charge high fees for inferior results. That makes a lot of sense and I think that will continue to be true. But can a computer sit down with five CEOs and figure out which one is C jobs? I just don't think so. This is an art form. We have thousands of people with high intelligence trying to do these things and nobody does it consistently. So there will still be room left for the few people who can do these things demonstrably better.

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