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So I took it upon myself to go off and took a course in bond math, took another course in derivatives and realized the underlying fundamental concepts were barely, I mean, it wasn’t even high school math in most cases. And then in a fit of madness, I guess, at the end of 2006, the credit markets were pretty uninteresting.
00:03:14 [Mike Greene] So that was actually an outgrowth from my experience coming out of Wharton and you mentioned the, the, you know, the transition of people who tended to be skilled at math or physics into finance. These are the single largest pools of assets on the planet is the American retirement system.
And I would say that Washington was pretty interesting because we had gone and, and spoken to people in 2005, 2006, and to kind of let people know that there was something, these are, this is a trillion dollars worth of misprice risk. They’re assetallocation model driven folks. It was what, what was your experience?
This was the era, 2005, 2006, all of my friends were looking to get banking roles. And I, and I really like the application of math and statistics and computer science to markets. You learn the math that can help you with, with market making operations. It’s just not smart on a math basis to do that.
Or should this be kept out of private assetallocators’ hands? And this was back in 2005 or 2006. I always think of ER and those sorts of emergency services as a service, as a community good, not a for-profit model, am I naïve in not realizing we could monetize emergencies? And so, you know where you stand.
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