AI Agents Trading Stocks While You Sleep? Charles Schwab's CEO Is Skeptical

I must admit, "I agree with Charles Schwab's CEO" was not a statement I expected to make any time soon.

The most potential utility for this stuff goes to people who already try to time-the-market and do daily trades etc. The people who will also suffer and scream the loudest when the LLM does something "wrong." In contrast, if you have a couple index-funds, all you really need is a slow trickle in, and that's easy to automate and much lower-stakes. More-complicated decisions are rare and don't require "agents."

That said, I'm sure Schwab Inc. also wants to retain "our staff can help you" fees.