Heh, last night I heard a talk from a representative of a...

Heh, last night I heard a talk from a representative of a company that does bot trading. He said they do zero FA. They don't even know what the company's lines of business are. It's all statistics and strategies. He said it's like a roulette wheel where they make a profit from the 0 and 00. Apparently, they invent a new statistical strategy every week, and they only work for 6-12 months, so they must keep inventing new strategies. And the way they want to grow is to replicate their robots in other stock markets, like Skynet (Terminator).

One good thing about it was that they take all the emotion out of it. He said they have no opinion about the direction of stocks. And that guy only does big extremely liquid stocks, not OBJ and co.