James Montier, author of Behavioral Finance - Insights into Irrational Minds and Markets, gives us as overview of quantitative modeling exercises and their success rate over predictions made by human experts.
Montier feels that there is a clear body of knowledge that suggests statistical modeling can consistently match or beat the success rate of experienced actors. His article, "Painting by Numbers: An Ode to Quant" is the subject of John Mauldin's latest "Outside the Box" column.
Mauldin describes Montier's article as an important point of reflection for investors on the results of quantitative versus qualitative decision making. See the link for the full article.