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So I, I did a math degree at Oxford, which is more pure math. You know, pure math can be very theoretical and detached from the real world, and it’s getting worse. It’s just math stick to it over long periods of time. And then I was looking for something more applied. The second is excess returns.
So, you start the blog in 2004, more or less. It’s much deeper than math. I remember where I was, they emailed me and it said, would you be interested in sitting down for a meeting and also should we communicate through you, or do you have representation? RITHOLTZ: Perfect is the enemy of the good, isn’t it?
RITHOLTZ: 2004, 2005. They kept the reputation intact by communicating with their investors. So this is the math that I applied. So think about this, do the math. LINDZON: But that math, if you really put it in a calculator … RITHOLTZ: Becomes a problem. How’s my 10 grand doing? LINDZON: Yes. RITHOLTZ: Right.
And arguably, they went from an underpriced position in 2004 I’d say — RITHOLTZ: Right. RITHOLTZ: The research department in the FOMC don’t seem to communicate. And I’m like, “Well, if Bob Shiller is putting on the seatbelts, maybe he’s done the math, maybe I should be wearing a seatbelt in the back of the car.”
So, I did the math, 20 million times a hundred. So, let me just repeat the math. And so, again, I went through this simple math. At that moment in time, 2004, Vladimir Putin became the — becomes the richest man in the world. And so, it wasn’t just a fishing boat, it was an oceangoing factory, very impressive.
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