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And we sold our stake in the business to Barry Diller in 2001. He said, I overpaid for the asset. So here’s the math, Barry. It’s hard to know which assets are going to have durable value. We would eventually, not only eventually, so that was 1999. I was still in business school helping them incubate it.
Instead of investing in a productive asset, these speculators were just assuming the recent momentum would continue. It’s fun math – a 20% drop in prices means you get 25% more shares for your dollar, and a 50% drop means twice as many , or 100% more shares per dollar invested.). 2) My net worth has just cratered by 20%.
She is an author and former hedge fund trader, specializing in distressed assets. MIELLE: Well, I mean, it was a fairly new asset class. I think, you know, it’s not until probably Farallon came into existence, that it became a real asset class in itself, that stressed and distressed was a category that was thought as investable.
He is the Chief Investment Officer of Asset and Wealth Management at Goldman Sachs. He co-chairs a number of the asset management investment committees. trillion in assets under supervision. JULIAN SALISBURY, CHIEF INVESTMENT OFFICER OF ASSET AND WEALTH MANAGEMENT, GOLDMAN SACHS: Thanks, Barry. And I think you will also.
Yet the fundamental math of bond returns bodes well for 2023, our columnist says. ( Has private equity avoided the asset-price crash? New York Times ). • No, but everyone is enjoying the charade. Economist ). Wall Street Journal ). • Gen Z came to ‘slay.’
I’m kind of in intrigued by the idea of philosophy and math. So I found myself getting kind of bored with my math problem sets, and then I could shift to philosophy and then go back and forth. So it’s been, you know, back in, in 2001, strategists were telling you to put about 70% of your money in stocks.
Now he’s the head of the discretion team at Loomis Sales, which manages well over $335 billion in client assets. I started out math and, and physics, and in high school I was a rock star in math and physics. The same phrase was during the financial crisis when people talked about toxic assets.
Wasn’t the Excel spreadsheet error, which changed their math. You know, when Bill Clinton was president and you had the budget, federal budget in surplus for four years in a row, 98 through 2001, the government’s budget was in surplus. And of course, we had a recession in 2001, and then the surpluses disappeared.
He really is one of the most knowledgeable people in this space, and not just knowledgeable in the abstract, but helping to oversee just about a hundred billion dollars in client assets. Jeffrey Sherman : Well, what it was was, so I, as I said, with applications, there’s many applications of math, and the usually obvious one is physics.
Which on the books, if all you’re thinking about is you’re in a cubicle and you’re analyzing numbers for some publicly traded company, you slash inventory, you’ve lowered, or I’m sorry, you’ve increased return on asset because inventory is asset, right? So asset is now smaller. I do the math.
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