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Math Problems

The Better Letter

The maths are exactly the same. These sorts of math problems are the focus of this week’s TBL. Math Problems As this TBL goes live, just 16 games and one day of the NCAA Tournament are in the books, yet my bracket is a mess. We notice the unlikelihood of 100 in a row because of the pattern. Thanks for reading. quintillion.

Math 95
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Transcript: Julian Salisbury, GS

The Big Picture

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 I moved back to London at the end of 2008, which was a really interesting pivot.

Assets 299
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Transcript: Jonathan Clements

The Big Picture

But the numbers you can’t argue with, I mean, we all know that the brutal math of investing before costs investors collectively will earn the market return after costs. And then when I left the journal for the first time in 2008, they said, well, who should we hire to replace you? I did it in 2008 in oh nine.

Investing 147
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Bracketology (2025 Edition)

The Better Letter

Top seeds have only lost to 16 seeds twice in the seeded era – since 1979 – and both occurrences are recent (that said, 2008 was the only year all four top seeds made the Final Four). Motoyuki Mabuchi went all-in with four aces in the main event hand of the 2008 World Series of Poker but lost to Justin Phillips’ royal flush.

Numbers 75
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Transcript: Albert Wenger

The Big Picture

I led the Union Square Ventures investment in Etsy, I became a venture partner for that, and then became a GP in the 2008 fund. And from a public market, that sounds like it’s a compliance and conflict nightmare. And you know, the only thing math works on recognition by peers, and there’s some prizes. RITHOLTZ: Okay.

Valuation 305
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Transcript: Tom Hancock, GMO

The Big Picture

I’d say management consulting is any of the other thing that least at that time was the other career trajectory, just my personality, more of a math oriented introvert. And ev all the sort of compliance, client service, legal, kind of, everything was done sort of on the side by investment people. Learn math, learn history.

Valuation 130
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Transcript: Luis Berruga, Global X ETFs

The Big Picture

And I did the math, and I think at that point in time, roughly speaking, assets in ETS were roughly just 10 percent, 12 percent of assets in mutual funds and I was pretty convinced that that number was to increase significantly. Think about the two founders of Global X, Bruno and Jose, they set up Global X in 2008. BERRUGA: Exactly.

Clients 162