Erdoes Says Robo-Advice Less Likely to Work Well in Bear Market
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Investors don’t need robo-advice in a bull market, and algorithmic investing probably won’t be as successful when the market is declining, JPMorgan Chase & Co. asset-management chief Mary Callahan Erdoes said.
“Robo-advisory is nothing but algorithmic generation” of smart investment allocation, Erdoes said Monday in an interview with Bloomberg TV’s Stephanie Ruhle. “Leaving that solely in the hands of an investor, it can work. It’s unlikely to work as successfully in a bear market as it did in a bull market.”