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America’s Enormous Math Mistake’s Mistake

The Big Picture

Since 2008, the Census Bureau has included government transfers in its Supplemental Poverty Measure. Call it ” ‘ America’s Enormous Math Mistake’s Mistake. ” In 2008. If this were true, it would mean we have been measuring income inequality incorrectly (perhaps wealth inequality as well). It is untrue.

Math 246
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10 Monday AM Reads

The Big Picture

Yet the fundamental math of bond returns bodes well for 2023, our columnist says. ( Survival Lessons From Past Tech Downturns : The current tech downturn could be much worse than it appears now, say those who lived through the 2001 and 2008 crashes—but those who make it have the chance to fuel the next bubble. New York Times ). •

Math 306
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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 93
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Chart of the Week: House Prices vs Rents

Discipline Funds

In fact, we’ve been vocal that this isn’t a repeat of 2008. And that’s where the math on renting comes into play. Especially not in an environment where the demand for buying is drying up as the Fed raises rates aggressively and the average mortgage rate surges back to 7%. I don’t intend to sound alarmist.

Math 137
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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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These Are the Goods

The Irrelevant Investor

By Ben Carlson I do the math, they do the physics. By Jeremy Schwartz Prudent lending was the concern in 1907; moral hazard was the concern in 2008. Max Exuberance and a herd mentality can exist without passive management present.

Math 52
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Bernstein on Bulletproof

Random Roger's Retirement Planning

That is difficult to pull off but if you do the math on that it shows long term outperformance. As bad as 2008 was, we're 3x from there. He makes a good point about not relying solely on math to assess markets and portfolio construction, that the psychology of markets is important too.