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The Wall Street Journal calls it man vs machine the paper reports that Morgan Stanley is scrambling to replace its human bond trade is with.
Computer program us.
The -- -- is on the floor of the New York Stock Exchange.
Now let's not get too carried away with this they gonna move from -- -- shift gradually towards computers OK I want a value judgment Hillary.
Is this market is this does this -- markets out of control.
Does it mean more efficient markets does it mean artificial pricing what does it mean to you.
Well I think -- and -- honestly you've got to find a balance somewhere in the middle and I think during this transition period I'm everybody going from -- markets to.
Electronic markets I think people are sort of favoring the electronic markets too much for my liking I mean I think that.
-- On a daily basis when things are common markets are normal you know machines are very good job in doing -- being in making markets.
But when I -- it very difficult you know that's when you really need human beings and in fact you don't need them -- you need them much more at the times of stress -- Yeah I think people are more firms are looking to cut trading costs because I think the technology is much.
More easily adapted to trading and other areas like research.
I don't let me just ask you real fast you wearing a button I am.
The -- -- mr.
on the what's the sentiment on the floor of the exchange firm pro Obama generally.
In general I I honestly I couldn't say I really don't discuss it with -- Honey this is -- I think this is my feeling so I I really wouldn't even mentioned taking guests tell you to turn.
OK I -- a period longer America back.
That I think this this computerized patient stories very -- them all of the sort to me is.
If you got a youngster out -- and universe to get out barons W -- codes study algorithms study math because that presumably is the profit the talent.
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