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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. So this is more like the real economy, slower growth businesses. Something like that?
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Following the financial crisis and the Fed cutting rates, economy and the market starts recovering in late 2009 and then 2010 and we kept hearing from a lot of different value corners, hey, everything is richly priced. Those types of excess savings were sort of the culprit for the conundrum in 2005 or whatever it was. RITHOLTZ: Right.
It was a wild ride because by the time you got, well, so in 2005, we went on a road show trying to tell people what we had learned, and there wasn’t a lot of reception. And in the 2000 at the 2005 conference, it’s kind of wild. Maybe the market hadn’t priced something properly. Sean Dobson : It was a wild ride.
I would say the thing that connects them is just voracious curiosity about the world of politics and, you know, economies and trying to make sense out of it. We, we made in 2005, I believe. That 00:15:42 [Speaker Changed] Was first AI investment, 2005. So here’s the math, Barry. You know, all of these things.
NADIG: So the reason is because, you know, when we look at how the corporate economy works, there are investments that you have to make. So as much as I’m personally still a pretty strong skeptic of active management, I mean, I understand the math, and the odds are not in your favor. It’s how math works.
RITHOLTZ: 2004, 2005. RITHOLTZ: 2005. ” If I, if the president ever, this is like a blog post I wrote when the President tweets about the economy, the market will move. So this is the math that I applied. So think about this, do the math. LINDZON: Yes. LINDZON: I hate CNBC. RITHOLTZ: Right. RITHOLTZ: Right.
The economy, the markets, and the world-at-large provide unlimited fodder for them. That’s why the markets are much more of a mind game than a math game. And that’s why markets will always be exceedingly hard, even when the math seems easy or the future seems certain. ” Nobody does. And lots of surprises.
And this was back in 2005 or 2006. An economy does better if the most people are prosperous, right? And these guys don’t like money sitting on a shelf. And so, you actually had a study in Congress that had what might happen if we were to experience a pandemic. And it said, “We need to stockpile more equipment.”
Initially, it was started in 2005 and it was called Revolution, but it was just my capital. I think if you fast forward 10 or 20 years, it’s more — as I said earlier, more optimistic view of America that will have a more inclusive innovation economy, won’t just be a few people in a few places.
When I look back at 2005, ’06, ’07, yeah, those growth stocks that collapsed from way too high, probably were too low. RITHOLTZ: So 5% funds rate, what does that do to the economy? But in the postwar period, we’ve had the cycles. SIEGEL: Yes. SIEGEL: Yeah. RITHOLTZ: So we’ll be at 5%. So two questions. SIEGEL: 5% funds.
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. he — Putin is trying to distract the Russian populace from the state of their economy and all the corruption that’s taking place. How many do you have in your fleet?
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