Although software systems can go wrong in spectacular ways, I would love to have a mutual fund which does not say "Fund Managed by ..." but instead says "Algorithm by ....".
I would trust a computer program more. I cannot be sure if a fund manager is exploiting the plans of the fund to ensure better returns for himself or his rich clients.
A computer program is able to digest a lot more facts and will be less likely to be influenced by rumours and 'market sentiments' (24x7 business channel speak).
And I think it will be beneficial to the society as it may redirect the focus of the work talented people do.
I am not sure if the salaries are 'market' driven by supply and demand or by the benefit to the society. I think a lot of it has to do with the ability to do damage (which is why we want the police and tax officials to be well paid) or nearness to money (ability to misuse it or divert it) (which is probably why our engineering students want to do an MBA in Finance.)
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