The Self-Driving Portfolio: When Your CIO Becomes an API
Portfolio committees have a talent for making slow processes look dignified. The ritual is familiar: an Investment Policy Statement sets the mandate, analysts prepare capital market assumptions, consultants run an optimizer or two, the investment committee meets, the board receives a memo, and everyone hopes the assumptions survive until the next review cycle. It is not irrational. It is simply bounded by human attention, calendar slots, model-maintenance capacity, and the fact that even very clever people cannot run twenty competing allocation philosophies before lunch. ...