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A comment on The Rich Are Already Using Robo-Advisers, and That Scares Banks. Parent comment

Re:The Rich Are Already Using Robo-Advisers, and That Scares... by Riod on Sunday February 07, 2016 @12:38PM (#11053759)
Buffett? Look up the Superinvestors of Graham and Doddsville; addresses your 'just statistics' issue. On the general investment management industry, in aggregate they are the market so why would they outperform it? There are funds that outperform; most people can't buy in though.
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Re:The Rich Are Already Using Robo-Advisers, and That Scares... by wstrange on Sunday February 07, 2016 @03:08PM (#11054557)
Buffet is not a good example.

He is much more than an investor. He takes a large enough position in his investments so that he has control (or major influence) in how his companies are run.

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Re:The Rich Are Already Using Robo-Advisers, and That Scares... by Riod on Sunday February 07, 2016 @03:22PM (#11054622)
What? He has historically given up his proxies over to management.
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Re:The Rich Are Already Using Robo-Advisers, and That Scares... by wstrange on Sunday February 07, 2016 @03:34PM (#11054669)
True - but he also instills his management philosophy in his acquired companies. CxO pay is also not as lavish as other companies.

From https://www.gsb.stanford.edu/insights/what-it-be-owned-warre...:

"The subsidiary chiefs also believe their companies’ performances are better under Berkshire (and even better than if they were stand-alone companies). Respondents point to Berkshire’s brand value and financial strength. Another reason? Berkshire lets CEOs focus on a longer performance horizon than they would expect under other ownership. Although each CEO varied on what that horizon would be, with estimates ranging from three years to 50, they all said Berkshire management encourages a long-term focus."

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Re:The Rich Are Already Using Robo-Advisers, and That Scares... by Riod on Sunday February 07, 2016 @04:03PM (#11054830)
That's not a management philosophy? Berkshire Hathaway is notorious for being hands off. The corporate HQ has 20 people working in it. Buffett controls the money but the CEOs are free to run the business as they see fit.
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Re:The Rich Are Already Using Robo-Advisers, and That Scares... by robryan on Sunday February 07, 2016 @04:49PM (#11055061)
Even by just taking control though they might be removing control from someone who wants to pump up the next quarters results.
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