Banks, Cash Will Be Replaced by Computers & SmartPhones

Banks, Cash Will Be Replaced by Computers & SmartPhones

Banks, Cash Will Be Replaced by Computers & SmartPhones


Jim Rogers predicts that banks must invest in the financial technology, or “fintech,” or become outdated and replaced.

“My children will never walk into a bank when they become adults as by then all the banks along the streets will be replaced by computers and certainly mobile phones,”Mr. Rogers told the China Daily.

Mr. Rogers reportedly has invested in Hong Kong-based ITF Corporation, the world’s 1st financial technology bank. He has also invested in Tiger Broker, a Chinese online brokerage

Giving his view on fintech development and the changing investment environment, Mr. Rogers said, “If you find something is changing and cheap, do some research and develop it. You will probably be very rich. You will only be a successful investor by staying with what you know and finding things that you know.”

Not everyone is so convinced about the new trend of all things digital in the financial world.

Yes, Bitcoin is booming, digital currency hedge funds are sprouting at the rate of 2 a week and the value of all cryptocurrencies has surged 10X this year to more than $170-B.

But, mainstream institutional investors are steering clear of the nascent market, taking the view that it is too lightly regulated, too volatile and too illiquid to risk investing other people’s money in.

Bitcoin, the biggest and most well-known cryptocurrency, has outperformed all the world’s traditional currencies each year since Y 2011, except for Y 2014.

But many investors still view it as an opaque, esoteric instrument used by gun-runners and drug-dealers on the Dark Web that should be avoided.

This year, though, a flood of new hedge funds focused on cryptocurrencies has offered institutional investors who might be unfamiliar with the market a potential route into the world of digital currencies.

Thursday, the major US stock market indexes finished at: DJIA +71.40 at 23400.86, NAS Comp -7.12 at 6556.76, S&P 500 +3.25 at 2560.40

Volume: Trade on the NYSE came in at: 877-M/shares exchanged.

  • NAS Comp +21.8% YTD
  • DJIA +18.4% YTD
  • S&P 500 +14.4% YTD
  • Russell 2000 +10.3% YTD
HeffX-LTN Analysis for DIA: Overall Short Intermediate Long
Very Bullish (0.59) Very Bullish (0.60) Very Bullish (0.67) Very Bullish (0.50)
HeffX-LTN Analysis for SPY: Overall Short Intermediate Long
Bullish (0.46) Very Bullish (0.53) Bullish (0.42) Bullish (0.42)
HeffX-LTN Analysis for QQQ: Overall Short Intermediate Long
Bullish (0.31) Bullish (0.29) Neutral (0.12) Very Bullish (0.53)
HeffX-LTN Analysis for VXX: Overall Short Intermediate Long
Bearish (-0.29) Bearish (-0.34) Neutral (-0.14) Bearish (-0.39)

Stay tuned…


The following two tabs change content below.
HEFFX has become one of Asia’s leading financial services companies with interests in Publishing, Private Equity, Capital Markets, Mining, Retail, Transport and Agriculture that span every continent of the world. Our clearing partners have unprecedented experience in Equities, Options, Forex and Commodities brokering, banking, physical metals dealing, floor brokering and trading.