there's really no reason to think the markets should become more mechanical as they become more algorithmic. They've probably been quite mechanical all along, and algorithmic too -- it's just that non-rational zero intelligence automatons running the algorithms were called people.
December 7, 2011
Machines make for better investment advisors.
Physicist Mark Buchanan looks at research conducted by IBM where traders pitted their skills against algorithms (The robots always out-performed the humans) and comments