Again I tend to think Ifl and the banks might benefit from tech...

Again I tend to think Ifl and the banks might benefit from tech innovation/ai reducing wage costs eventually. I think it will be an adjunct rather than a replacement in the next 10-20years. This will likely impact on margins but wages should come down at the same rate or possibly even faster.

Out of interest, what would common sense tell someone to invest in, despite a frothy market? I heard an interesting interview the other day, which showed that on the day of the absolute peak of the pre Gfc market, if you told someone what would unfold in the subsequent year with worldwide recession, banks being nationalised around the world etc, and gave them a choice between sp500, gold, cash, oil, bonds etc, for a ten year horizon without reallocation, what would be the best return?
From memory equities was 7%pa, gold 5%, bonds about 3.5%, cash at 0.5%, and oil negative.

so maybe our robo adviser for the long term investor isn’t so naive after all?