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So, you start the blog in 2004, more or less. RITHOLTZ: if you’re one latte away from your retirement being messed up you got bigger … SETHI: Bigger problems. RITHOLTZ: What are your thoughts on the early retirement fire movement? It’s much deeper than math. SETHI: Yes. SETHI: Yes, while I’m in college.
One is that a politician who votes to cut benefits or raise the retirement age will probably lose some voter support. Keep in mind that extending the full retirement age (FRA) to 68 or 69 or whatever is a de facto benefit cut. The last sentence is about the math involved not about the right and wrong of any of it which we'll get to.
In my opinion the diversification benefit hits diminishing returns pretty close to 40 individual holdings based on math if nothing else. I've got quite a few names that have been in the portfolio since 2004-2006 when I first started this phase of my career. The yellow line stock goes back to 2004.
.” It’s really helpful to have had five other meetings with people who sit at analogous funds that had losses that were just as big, and in fact, they may have contributed to those losses more and be able to tell him, first off, your fund, just by my math, has a $250 million management fee. RITHOLTZ: People will figure out.
So the fact that I had a sociology degree really didn’t impede, I think getting into business Barry Ritholtz : And you end up in like what some would think of as kind of a dry, legalistic part of Fidelity, the ERISA Division, which focuses on retirement accounts. Erika Ayers Badan : It was very boring.
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.
And arguably, they went from an underpriced position in 2004 I’d say — RITHOLTZ: Right. My first four years of teaching was his last four years before he retired. I saw him a lot after he retired — he lived in San Francisco — whenever my wife and I went there. I mean, it’s used to be called FANG.
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