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Morgan Stanley Robot Learns by Reading Unreadable MUNI Documents
- Jun8 7y agoThis was mentioned in Matt Levine's latest Money Stuff (https://www.bloomberg.com/opinion/articles/2019-09-20/it-s-hard-to-say-no-to-aramco-s-ipo https://www.bloomberg.com/opinion/articles/2019-09-20/it-s-h...). He thinks that "If there were a robot trained to spot subtle changes in bond documents then that would be super useful." But his verdict is that this won't happen soon: The robots can use the documents to analyze the quality of the issuer, but they can’t actually use the documents to analyze the quality of the documents. Reading every word of a boring bond document to figure out if it’s going to hose investors is still, strangely, a job only humans can do.