Blockchain is Overhyped

Courtesy of Lawrence Baxter, Ryan Clements, and John Lightbourne The buzz surrounding Blockchain, the distributed ledger infrastructure upon which Bitcoin operates, and how it will transform commerce while reducing transaction costs is at a crescendo. As John Oliver recently hilariously lampooned, many investors assign instant value to any firm with Blockchain in its name, mirroring […]

Robo-Advisers and the Fiduciary Duty

This post is inspired by and includes excerpts from “The Rise of Robo-Advisers: Can an Algorithm be a Fiduciary”, 67 Duke L.J (2017) (forthcoming). Imagine all your retirement savings is managed by an online company (robo-adviser) that utilizes an extremely sophisticated machine learning algorithm to construct a continuously adjusting portfolio designed to maximize risk-adjusted returns […]