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Previously : Simple, But Hard (January 30, 2023) One-Sided Markets (September 29, 2021) The Price of Paying Attention (November 2012) See also : Welcome to FinTok, Where Day Trading, Options Investing, and Misinformation Reign ( Institutional Investor , September 25, 2020) TikTok Influencers Promise They’ll Make You Rich.
October 22, 2012) Investing via Media Market Timing (February 8, 2009) Forecasting & Prediction Discussions Sources : We Found 30 Timing Strategies that “Worked”—and 690 that Didn’t By Wei Dai, PhD, Audrey Dong, DFA, Oct 31, 2023 In the Stock Market, Don’t Buy and Sell. By Jeff Sommer New York Times, Nov. More on this later.
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. So the growth of balanced funds was a real, really key characteristic of that 2006 to 2012 market.
One, one is true and I’ve always said is that I wanted people to stop, ask if I could doing math. And no one asked me if I can do math anymore with a degree from Booth, particularly in econometrics and statistics. So people really ask you, you take French and can you do math. Two reasons.
Make Fewer Decisions It’s simple math. “You’ll see I wear only grey or blue suits,” then-President Barack Obama told Michael Lewis in 2012. Subscribe now Share The Better Letter Read The Better Letter in the new Substack app Now available for iOS Get the app Thanks for reading. Check email only at set times.
He is also the Executive Editor of The Life Product Review since 2012. Prior to joining MetLife in 2013, Bobby was a consultant to life insurers, distributors and high-end agents. He is the third generation of his family to work in life insurance. Bobby is a regular keynote speaker at corporate and industry events. Transcript 0:00:00.6
You still had 2012 to 2017 to finish the bet. RITHOLTZ: So hold the duration risk aside with those two, but just for an investor in treasuries, I know you’ve done the math before. It’s much more about security selection and a relatively static portfolio construction. RITHOLTZ: Right. How would you have done?
Michael Lewis ] 00:06:54 [Speaker Changed] So going back to about, I dunno, maybe 2012, I’d had made several runs at writing about crypto, mainly at the behest of crypto people because they wanted attention. Because he was all sure he was a totally isolated math. So, so he’s brilliant at math. I thought so.
I’m kind of in intrigued by the idea of philosophy and math. So I found myself getting kind of bored with my math problem sets, and then I could shift to philosophy and then go back and forth. 00:01:29 [Barry Ritholtz] I I, I try not to butcher people’s names, but let’s talk a little bit about your, your background.
So here’s the math, Barry. If you have seven $50 incremental year, then every 10 year old in America, when they enter into the fifth or sixth grade and the teacher says, Hey, today we’re gonna talk about math or compounding or stocks or capitalism, they’ll say, open up. 00:44:49 [Speaker Changed] Correct?
According to a Deloitte article, in 2012, 500 of the highest paid executives received an average remuneration of $24.4 If you're curious to learn how the math behind this, read this piece from Econompic. Things are not tough for CEOs of publicly traded companies A picture says a thousand words.
And I did a lot of options math, which I thought was interesting. 00:12:42 [Speaker Changed] Yeah, so I joined in August, 2009, and I left to join Hawaiian Bernstein in late 2012. Which was interesting because I actually started my career at JP Morgan Asset Management in the high yield and investment grade credit research team.
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. To find the answer, CXO collected and investigated 6,584 forecasts from 2005-2012 for the U.S. Stop with the math.`
RITHOLTZ: So wait, you’re, I’m trying to do the math, if you were 24 in ‘08, so you got this watch in 2000, 99? This is 2012, 2013, was enormous in the industry. CLYMER: Probably 2012. You launched the shop in 2012. He gave me his Omega Speedmaster, which is a really nice watch. Your content is unreal.
But growing rapidly, that market, when we first did our first secondaries transaction as a, as a firm in 2012 was only 20 billion a drop in the bucket. Now we’re starting to come out of that now, but that math is still nowhere near where it needs to be. The institutional investor does not like that math.
There’s a lot of people writing about that back in 2012, 2013, that they started selling at a premium multiple to the market, which is very obviously not the case today. And I’m like, “Well, if Bob Shiller is putting on the seatbelts, maybe he’s done the math, maybe I should be wearing a seatbelt in the back of the car.”
You’re doing a lot of math in your head on the Fly. I’m doing, I’m doing an awful lot of math in my head on the fly. 2012 Watson beat Casper off at chess. It also brought in, you know, interest rates and interest rates expect, because the forward curve is a function of interest rates [ Gary Cohn ] 00:10:52.
A good example of that is like you take something from a cognitive reflection testy or something — like — I’ll make it real simple so we don’t have to like do the weird math on this. Like you’re running a race and you pass the person on second place, what place you’re in.
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. And in November of 2012, it went for a vote in the Senate and it cast 92-4. And so, it wasn’t just a fishing boat, it was an oceangoing factory, very impressive. They said, seven years.
Then of course the Fukushima did Fukushima disaster in Japan in 2011 and into 2012. I do the math. But the first supply chain disruption story I ever wrote was back in 1999 when there was an earthquake in Taiwan and we had shortages of chips and other electronics. And each time people who pay attention to this stuff.
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