Mish Talk

DECEMBER 12, 2022

Someone do the math for me. Governments can do nothing about this. How much will Michael Saylor be worth? Oh, one more small thing. It's guaranteed. The Crypto Crash and Why It's Impossible For "You!" to Cash Out In case you missed it, please understand that it will be impossible for "You!"

Numbers 130

Numbers Math Insurance Government 130

The Big Picture

SEPTEMBER 12, 2022

And so, coming out of school, I studied Economics and Spanish Literature, and I applied to a — a program that actually targeted Liberal Arts majors. I — I loved math, but really, I was going to go down that literature route more than anything else and — and study Spanish literature. It was at Bank One, at the time.

Clients 299

Clients Wealth Management Banking Investing 299

The Big Picture

NOVEMBER 21, 2023

You have privacy and governance requirements, HIPAA requirements, whatever they are. This idea is a bipartisan piece of legislation where the federal government will seed a private investment account for every child born in America. So the federal government seeds, it, it’s a tiny investment by the federal government, 3.7

Investing 246

Investing Investments Startup Accounting 246

Trade Brains

DECEMBER 7, 2023

The topics covered are personal finance math, retirement problems, introduction to mutual funds, the concept of fund & NAV, equity schemes, debt funds, investing in bonds, index funds, rolling returns, Exchange-traded funds(ETF) and basics of macroeconomics.

Budgeting 59

Budgeting Certification Education Asset Allocation 59

Investing Caffeine

FEBRUARY 1, 2022

Math Matters. I did okay in school and was educated on many different topics, including the basic principle that math matters. Source: Federal Reserve Economic Data (FRED). Source: Calafia Beach Pundit. This notion rings especially true when it comes to finance and investing. interest rates.

Math 52

Math Assets Investing Investments 52

The Big Picture

AUGUST 15, 2023

RITHOLTZ: But did the oversight, the governance get it? SEIDES: The success of that governance. SEIDES: Yeah, I wouldn’t measure it in terms of economic returns. 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. RITHOLTZ: Okay.

Management 130

Management Investing Investments Government 130

The Irrelevant Investor

OCTOBER 18, 2015

it had grown so influential, and had become so widely accepted, that it was less a hypothesis than a commandment from God in heaven passed down through his economic prophet of the Windy City. The math showed it was inevitable that a few traders would stand out, but that didn't mean they had skill. I'm not aware of anyone else.

Math 52

Math Marketing Marketing Management 52

The Big Picture

JANUARY 16, 2024

I was always good at math, but I really, I just didn’t relate to things that were more esoteric bonds options. And clearly the banking system wasn’t free fall, but the government was there with, you know, the big RTC bailout and it didn’t feel like the world was falling apart. I have no family history.

Assets 264

Assets Investing Investments Management 264

Brown Advisory

JUNE 16, 2022

We discount each year at our 10% minimum weighted average cost of capital (WACC) and some infinite series maths gives us the basis for some rough approximations 2. Hence, in aggregate we are more sensitive to rising interest rates than any 10-year bond but less than a 30-year 3% coupon government bond at par. GAAP in 2002 7.

Investing 52

Investing Investments Accounting Valuation 52

Brown Advisory

NOVEMBER 13, 2023

The New Normal It is difficult for investors and individuals alike not to have been directly impacted by the rapid rise in inflation in 2021 and 2022, the succeeding interest rate hikes by global central banks and the ensuing effects these economic events have had on financial markets, including the mortgage market.

Investing 52

Investing Investments Portfolio Clients 52

The Big Picture

JULY 19, 2022

And when I was studying in university economics, I did not really get the passion. The passion came when I went to invest the country’s foreign exchange reserves there and it was very much global government bond markets. So, thinking about macro picture. RITHOLTZ: Right. That makes a lot of sense. You mentioned free lunch.

Investing 130

Investing Investments Valuation Portfolio 130

Abnormal Returns

DECEMBER 8, 2024

on.ft.com) What it took to rebuild Notre Dame (nytimes.com) Budgeting The math on any additional tax cuts is tough. advisorperspectives.com) The government isn't a business, and shouldn't be run like one. donmoynihan.substack.com) Climate policy IS economic policy. nytimes.com) The economic schedule for the coming week.

Marketing 147

Marketing Marketing Budgeting Math 147

The Big Picture

AUGUST 8, 2022

Why has technology developed the way it has and, more or less, exempt from a lot of government regulations or protected by government regulations? ANAT ADMATI, PROFESSOR OF FIANCE AND ECONOMICS, STANFORD GRADUATE SCHOOL OF BUSINESS: So, my journey starts where I took a lot of math. I was good in math and I love the math.

Banking 204

Banking Government Insurance Taxes 204

The Big Picture

SEPTEMBER 19, 2022

You graduate Harvard in 1990, with an Economics and Computer Science degree, perfect for the explosion of the Internet; a PhD from MIT and Information Technology in ‘96. Unless we really course correct very hard, very dramatically, and by dramatically, I mean, the level of government activation that we had in World War II.

Valuation 305

Valuation Investing Investments Engineering 305

The Big Picture

SEPTEMBER 10, 2024

In doing so, I thought this conversation was really quite fascinating, and I think you will also, especially if you’re not only interested in equity, but curious as to how to combine various aspects of market functions, valuation, economic cycle, fed actions into one coherent strategy. But generally starts with the economic cycle.

Valuation 162

Valuation Clients Investing Investments 162

The Big Picture

NOVEMBER 15, 2022

So as much as I’m personally still a pretty strong skeptic of active management, I mean, I understand the math, and the odds are not in your favor. I read all those academic papers, I understand where the math comes from. It’s how math works. There’s no economic incentive for anybody to change any of that.

Management 278

Management Assets Portfolio Investing 278

The Big Picture

MAY 30, 2023

I had an economics lesson, I had a life lesson, I had an epiphany, I had a race relations lesson, I had a self-esteem and confidence lesson. Being broke is economic, but being poor is a disabling frame of mind, a depressed condition of your spirit. It’s home economics class, doesn’t exist anymore. RITHOLTZ: Right.

Banking 147

Banking Economics Business Planning Economy 147

Nationwide Financial

SEPTEMBER 12, 2022

The curve, however, continues to project cuts to the rate beginning next May, which seems optimistic given the tone of Fed officials and the math around getting inflation back close to their 2% target. on depressed spending from COVID and drought-driven shutdowns, driving calls for accelerated stimulus from the government.

Retail 52

Retail Math Banking Economics 52

The Big Picture

AUGUST 20, 2024

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. Things like leading economic indicators, et cetera, are all consistent with historical recessions. 01:11:54 Right?

Assets 173

Assets Management Portfolio Marketing 173

The Better Letter

OCTOBER 5, 2023

This math explains why we shouldn’t be surprised when the market remains “irrational” far longer than seems possible. Even worse, our economic and market models typically assume a “mild randomness” of market fluctuations. In fact, much of what happens is highly improbable. But we are.

Insurance 114

Insurance Food Asset Allocation Retirement 114

The Big Picture

AUGUST 29, 2023

So a variety of risk meetings, a variety of economic meetings. And ultimately we think this is going to allow us to pursue a level of economic growth that continues to give us full employment, moderate price increases.” It’s also being part of the senior team that runs Vanguard, the business of Vanguard, right? RITHOLTZ: Right.

Portfolio 130

Portfolio Investing Investments Numbers 130

The Big Picture

OCTOBER 17, 2023

A degree in mathematics from Oxford, a doctorate in mathematical epidemiology and economics from Cambridge. So I, I did a math degree at Oxford, which is more pure math. You know, pure math can be very theoretical and detached from the real world, and it’s getting worse. What is that? The second is excess returns.

Investing 130

Investing Investments Clients Management 130

Abnormal Returns

SEPTEMBER 3, 2023

Strategy The math on the 60/40 portfolio looks a lot different than it did a year ago. theatlantic.com) Not every government in the world is getting older. theweek.com) The economic schedule for the coming week. awealthofcommonsense.com) There is a difference between picking and choosing. washingtonpost.com) Economy The U.S.

Math 264

Math Financial Advising Advertising Distribution 264

The Big Picture

SEPTEMBER 26, 2022

CASE: Well, actually when we started in 1985, it was — the Internet was restricted to government agencies and educational institutions. The math never seems to work out. Tell us a little bit about when you go from a nimble startup to a big merger, to the government, what’s the trade off? RITHOLTZ: Wow.

Startup 173

Startup Investing Investments Numbers 173

The Big Picture

JANUARY 24, 2023

STEVEN KLINSKY, FOUNDER, CEO AND MANAGING DIRECTOR, NEW MOUNTAIN CAPITAL: I come from the Detroit area of Michigan as a public school kid, went to University of Michigan and studied both economics and philosophy. RITHOLTZ: So it’s different math then I need 100x winner versus 99? KLINSKY: Well, thank you. KLINSKY: Yeah.

Investing 263

Investing Investments Numbers Banking 263

The Big Picture

DECEMBER 12, 2023

And I was a math nerd as a kid. They had a dispute with the government where the government claimed that they were overbilling on some cases. There are real governance differences in some of the places and the industry skew away from tech, you know, may be slower and more commodity. 00:47:27 [Speaker Changed] Sure.

Management 264

Management Investing Investments Retail 264

The Big Picture

JULY 29, 2024

Other times they’re very, very focused on governance. When you talk about governance, how are people adjusting in that space? Also the, the underlying philosophy of that just seems fundamentally wrong from an an economic standpoint. And that degree of customization for some is incredibly important.

Clients 147

Clients Portfolio Financial Advisor Investing 147

The Big Picture

MARCH 12, 2024

So in this, in this context of, of a mortgage now being clear to everyone that this default risk is present, it’s real, and it’s hard to price because following the borrower’s economic profile, there, there are defaults that are related to just life events, but there’s also defaults related to a macroeconomic event.

Banking 147

Banking Marketing Marketing Investing 147

Abnormal Returns

MARCH 5, 2025

Crypto The government has no strategic reason to own crypto assets. disciplinefunds.com) There's only one reason to include XRP or Cardano is a government-backed fund. readthejointaccount.com) Some signs that economic uncertainty is bleeding through into consumer intentions. abnormalreturns.com) Research links: more than math.

Math 147

Math Government Engineering Economy 147

The Big Picture

MAY 21, 2024

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. I know you like to discuss there are different phases of the, of the, both the market and the economic cycle.

Numbers 147

Numbers Management Banking Marketing 147

The Big Picture

APRIL 8, 2025

But let’s start with your background in your career, applied mathematics and economics from Brown and then a Harvard MBA. 00:31:40 [Speaker Changed] So there’s the emotions and then there’s the math, right? And what’s become re levered is the federal balance sheet and the government balance sheet.

Asset Allocation 147

Asset Allocation Wealth Management Clients Assets 147

Aleph

FEBRUARY 18, 2023

Now she’s leading a push to legalize gambling in Texas [link] Legal gambling leaves society as a whole worse off Feb 16, 2023 As the country emerges from a pandemic that left children zoning out over Zoom, parents are turning to the turbocharged “Russian math” method to give their kids an academic edge.

Banking 59

Banking Healthcare Government Budgeting 59

The Big Picture

MARCH 17, 2025

Professor Stephanie Kelton teaches Public Policy and Economics at SUNY Stony Brook. You get a bachelor’s, a BA and a BS in Economics and Business at California Sacramento, then University of Cambridge, master’s in Philosophy and Economics, then a PhD in economics at the New School. I happened to pick that one.

Taxes 147

Taxes Economy Government Budgeting 147

The Big Picture

AUGUST 23, 2022

in Economics from Chicago and MBA from Stanford. You begin in Salomon Brothers in the 1990s early in your career and you kind of successfully stumble into some privatization of government entities in Poland while you’re at Salomon. So, I did the math, 20 million times a hundred. So, let me just repeat the math.

Government 321

Government Banking Numbers Investing 321

The Big Picture

FEBRUARY 17, 2025

We’ll get to where you work at JP Morgan, but economics bachelor’s from Columbia MBA from Harvard. So I decided to become an economics major and a psychology minor. So the intersection of psychology and economics became really interesting. And I did a lot of options math, which I thought was interesting.

Investing 147

Investing Investments Economics Management 147

The Big Picture

JULY 31, 2023

The economic dislocation, the health risks, just the mayhem that took place, but from the perspective of a number of corporate CEOs, Bill Ackman of Pershing Square Capital, the hedge fund that had a couple of amazing trades based on this. HOFFMAN: So obviously, I’ve — you know, economically minded from the jump.

Retail 130

Retail Government Economy Economics 130

The Big Picture

APRIL 8, 2024

The transcript from this week’s, MiB: Ed Hyman on Using Economic Data Opportunistically , is below. So you have all of this very pragmatic experience as opposed to getting a PhD in economics, which tends to be a little more abstract and academic. So it’s not just government data. That’s just unprecedented.

Economy 147

Economy Clients Banking Economics 147