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The math behind Universal Life Insurance Interest Rates is a twisted web and most consumers are deceived. Know how the math works so you can see the potential risks that may exist with your policy. Also, nothing in this podcast or blog can be interpreted as legal or compliance advice. Don’t be fooled!
The regulators don’t force insurance companies to provide in-force illustrations to their Universal Life policy holders and it allows them to deceive consumers who aren’t prepared to do the math required to know the truth. Also, nothing in this podcast or blog can be interpreted as legal or compliance advice.
She has a really fascinating background, very eclectic, a combination of math and law. You, you get a, a BS in Mathematics and a JD from Boston University Math and Law. It is something, math has always come easy to me since a child. I didn’t get an advanced degree in math. Not the usual combination. What happened?
WENGER: Well, I was basically hanging out at the USV offices after the sale of del.icio.us 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. You guys approach it differently.
Mike Wilson has been with Morgan Stanley since 1989, rising up through the ranks of institutional sales, trading, investing, banking to eventually becoming Chief Investment Officer and Chief US Equity Strategist. And then I went into really more of a sales role in the nineties. We were dealing with clients from a sales standpoint.
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. I remember telling myself, why would anyone invest in mutual funds when you can buy an ETF instead? BERRUGA: Yeah.
Quick math: If you have $1.828 million in the bank. And , you have to do the math by hand. Now, quick math, if you have 128 million in the bank in your Christmas or Hannukah Club, and the bank is going to credit you 5% on your money 0:18:18.4 There is an admin charge of about $49k. There is an insurance charge of about $246k.
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. And so that then led to the sale of that business in the late 1990s to Credit Suisse. That’s Barry saying it.
And then somebody convinced me to go into sales and trading, and I decided to do that. Tell us a little bit about what you do on Twitter and how was it getting that through legal and compliance? RIEDER: Well, first of all, anything I tweet goes through legal and compliance before it gets out there, first part. RIEDER: Thanks.
Indexed universal life (IUL) is often sold using smoke-and-mirrors sales shams, but in this podcast we’ll expose the truth! Listen to this if you are a financial advisors or consumer who wants to see through the crap and make better decisions about whether IUL is good for you (or your client) or NOT. And that would be a huge problem.
RITHOLTZ: So it’s different math then I need 100x winner versus 99? On the other hand, a lot of these businesses, you know, the entrepreneur had built it up to a certain size, had never done an acquisition, had never built the sales force, had never made technology investments in the full way, had never gone international.
RITHOLTZ: So it can be price-to-sales — RITHOLTZ: Yeah. ASNESS: Well, I was striving for uncorrelated, but then the compliance officer in my head is saying sometimes it doesn’t come out to zero all the time. And it’s really not a compliance reason, I hope it’s more of an intellectual honesty reason.
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. With 83% of the s and p 500 reporting earnings sales are roughly in line. What was the career plan?
And I, and I really like the application of math and statistics and computer science to markets. And so we, we get this contract written and I go off to grad school assuming I would go work at a big bank doing sales and trading in some quant role. You learn the math that can help you with, with market making operations.
I don’t know I was for sale. The sale of Wallstrip. LINDZON: He went and cut the deal of the century, I imagine, with Twitter, some poor sales kid, a GNIP inside Twitter comes to Bloomberg, like a, like a cub into a wolf den. So this is the math that I applied. So think about this, do the math. LINDZON: Yes.
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