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So, so you’ve held analyst roles and a number of asset managers. And so I had a lot of contacts in Australia at that point, and one of them was the CEO of what was at the time called Colonial First State Global Asset Management. We just don’t know which, once you start doing things online, that kind of changes.
Long duration assets are losing favour given higher rates act like gravity on the price of securities whose intrinsic value is based on cash flows generated further into the future. Maths has a long half-life and a DCF correctly done accounts for inflation. Depreciation rises over time too.
The transcript from this week’s, MiB: Mike Greene, Simplify Asset Management , is below. We have to pay attention to this, and we have to understand why this is potentially a risky asset. You can stream and download our full conversation, including any podcast extras, on Apple Podcasts , Spotify , YouTube , and Bloomberg.
He is the Chief Investment Officer of Asset and Wealth Management at Goldman Sachs. He co-chairs a number of the asset management investment committees. trillion in assets under supervision. JULIAN SALISBURY, CHIEF INVESTMENT OFFICER OF ASSET AND WEALTH MANAGEMENT, GOLDMAN SACHS: Thanks, Barry. And I think you will also.
No income, no job, no assets were exactly ninja, Sean Dobson : No pulse seems reasonable. We see it as, like I said, about 50 million assets and we’re modeling up the value of every home in the country, every, every week, basically. We’re we’re the quant shop in real estate, in the quant shop in physical assets.
This was the era, 2005, 2006, all of my friends were looking to get banking roles. And I, and I really like the application of math and statistics and computer science to markets. But as it turns out, the reason that asset manager was able to raise so much money was because they had taken signals. It was truly a throwaway name.
I’d been ranked i i back in the seventies, if you can do the math. It’s not as, as strong as your business in the asset management business. Hustle was managing institutional right assets. But if you go back to 2006 point half percent sounds high. So at that point, I had a pretty big career. Your side hustle.
And then I didn’t do the internet again until 2006. Well, 2006 was a miracle. If you were alive and writing checks in 2006 to 2011. Why wouldn’t you, you can buy a fintech assets for 90, 90 cents off the dollar. So the VCs were like, we got to go after the assets under management. RITHOLTZ: Right.
I think that the asset stripping that has also occurred, pensions, for instance, are sold off, overfunded pensions get sold off and that goes into the private equity firm instead of into the company itself. Or should this be kept out of private asset allocators’ hands? And this was back in 2005 or 2006. Kind of a thing.
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. 00:29:06 [Speaker Changed] So that was 2006. You’ve got a big asset management business that you care about. We now had the securities business.
SIEGEL: — or 2006, ’07, ‘08. 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.” We have been speaking with Professor Jeremy Siegel of the Wharton School of Business, and Jeremy Schwartz of WisdomTree Asset Management.
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