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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?
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. I didn’t know what any of these terms meant. Three main client segments.
Different risktolerance and different business plan. BRYANT: So money, unlike math, money is highly emotional. I mean, there’s 50,000 kids in the Atlanta public school system, so you can do the math there. I believe I love math because it doesn’t have an opinion, that’s a Melody Hobson quote.
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.
But over the last 30 or 40 years, probably 40 years since the Reagan years, if you look at the wealth and the income distribution in this country, it really has sort of gelled at the top. And the main one is that it used to be that hedge funds were populated with risk-tolerant investors. RITHOLTZ: Right, very much so.
We have be behavioral finance tools so that the investor can understand their relationship with wealth and their risktolerance, their needs at a greater level of detail. But you would be surprised that merely saying to somebody, oh, we, we have you in a conservative portfolio based on your risktolerance and goals.
They’re, they’re lower risktolerance, I would say very high standards on quality of service and quality of, of infrastructure and decision making. 00:46:16 [Speaker Changed] Now it’s your distribution hub 00:46:17 [Speaker Changed] And there’s no people. So it’s very long dated capital.
And the thresholds really matter and we don’t know what their distribution is in advance and it has to play itself out. So the granddaddy of this in my field is when you are setting up a portfolio for an investor, “Hey, tell us about your risktolerance. So that happened with seatbelt buckling. Are you aggressive?
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