Remove 2001 Remove Math Remove Planning
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Transcript: Stephanie Kelton on US Fiscal Policy and the ‘Deficit Myth’

The Big Picture

What, what was the original plan Stephanie Kelton : To be a dentist. Wasn’t the Excel spreadsheet error, which changed their math. You know, when Bill Clinton was president and you had the budget, federal budget in surplus for four years in a row, 98 through 2001, the government’s budget was in surplus.

Economy 144
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Transcript: Sander Gerber, CEO and CIO Hudson Bay Capital

The Big Picture

What was the career plan? Sander Gerber : Well, actually I was good at math. Because what we would do is we would parachute into places like British Airways, Montreal Trust Ca Industries, and we were like the external strategic planning. Barry Ritholtz : So let’s start a little bit with your background.

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Transcript: Brad Gerstner

The Big Picture

And we sold our stake in the business to Barry Diller in 2001. So here’s the math, Barry. So of course, when you have that level of volatility in the market, right, it’s gonna put a little chill into people’s plans. We would eventually, not only eventually, so that was 1999. I became co CEO of the business.

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Finally, a Stock Market Crash!

Mr. Money Mustache

It’s fun math – a 20% drop in prices means you get 25% more shares for your dollar, and a 50% drop means twice as many , or 100% more shares per dollar invested.). Only the Great Depression and the 1960s slump would have foiled this plan, and even then just barely.

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Transcript: Dominique Mielle

The Big Picture

Was that where you plan to go? So it was a pretty different situation from 2001, where the whole dot-com bust, but more importantly, the telecom implosion. But think of the pension plans, think about the school endowments, they really need some safety. But let’s roll back a little bit. You get an MBA at Stanford.

Assets 280
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Transcript: Julian Salisbury, GS

The Big Picture

What was the original career plan? SALISBURY: Honestly, I didn’t really have a long-term plan. SALISBURY: Yes, I’d love to tell you there was some great master plan. And then I was the beneficiary of the TMT bubble bursting in 2001. Let’s start out with a little bit of your background.

Assets 293
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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 300