Real Talk on AI Investing, Steve Bannon, Jamie Dimon, and Donald Trump

Oct 16 2017 | 12:13pm ET

This morning, we discuss Barron’s warning on artificial intelligence, Steve Bannon’s war against Republicans, Jamie Dimon’s hatred of Bitcoin, and Donald Trump’s victory lap on healthcare.

“We’ve never seen so many investment decisions driven by quantitative systems.” 

That’s Morningstar analyst Tayfun Icten.

Over the weekend, Barron’s offered a fascinating debate on the impact of artificial intelligence on the global trading community. Computer-driven trading is creating a number of problems that are reminiscent of events that occurred in 1987.  

“It's a season of war against the GOP establishment” 

That’s Steve Bannon.

The former White House adviser is gunning for a specific number of Senators and leaders in the Republican Party. Bannon is whipping up Christian conservatives to engage in a battle to purge the party from people that he doesn’t deem worthy of office.

"This is not my war. This is our war. And y'all didn't start it. The establishment started it. But I will tell you one thing — you all are going to finish it," he said.

Bannon started his rant today by reading passages from Ecclesiastes 3.

This guy is just a mustache, black hat, and shotgun away from screaming, “So run you cur. And tell the other curs the law is coming. You tell 'em I'M coming... and hell's coming with me, you hear?... Hell's coming with me!”

"If you're stupid enough to buy it, you'll pay the price for it one day."

That’s Jamie Dimon. 

The JPMorgan Chase CEO had said during his firm’s conference call that he was done talking about Bitcoin, not long after calling Bitcoin a fraud.

A few days later, he was talking about Bitcoin again.

Bitcoin slumped hard after Dimon’s initial comments. After his latest comments, the Bitcoin price was hovering near $5,500 per coin. 

“Health Insurance stocks, which have gone through the roof during the Obamacare years, plunged yesterday after I ended their Dems windfall!” 

President Donald Trump took an axe to health insurance subsidies.

And then he went to Twitter. 

His Twitter feed has been the single greatest threat to individual stocks this year… with the exception of Amazon press releases and rumors they are entering a new line of business.

“I've seen the headlines about the world's most useless airport, but for St Helenans this has already been the most useful airport.”

It took about 90 years and £285 million, but St. Helena finally has an airport. 

Libby Weir-Breen, a travel operator who has brought tourists to the island for more than a decade, said that she has “never felt so emotional in all my life” about the opening of the airport. 

She might need to get out more.

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Garrett Baldwin is the voice of the The Daily Alpha, the features editor for Modern Trader magazine, and the author of The Man with The Big Red Balloon.

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