Machines now dominate stock trading and it's having unexpected consequences
摘要：
“The majority of equity investors today don’t buy or sell stocks based on stock specific fundamentals,” Marko Kolanovic, global head of quantitative and derivatives research at JPMorgan, explained in a note to clients, cited by CNBC.
今日主要的股权投资者不再根据股票的基本面进行交易。
“Fundamental discretionary traders” now account for only about 10% of trading volume in stocks, he said. Passive and quantitative investing account for about 60%; this share has more than doubled over the past decade.
在全部的交易量中，基本面交易量紧占１０％，被动交易和量化交易占６０％。
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