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I — I loved math, but really, I was going to go down that literature route more than anything else and — and study Spanish literature. RITHOLTZ: Whereas the — and the market when — essentially didn’t get above 2000 to like 2013 or so. RITHOLTZ: Applied Mathematics, Quants, those guys, yeah. I love statistics.
Prior to joining MetLife in 2013, Bobby was a consultant to life insurers, distributors and high-end agents. Bobby was formerly Senior Vice President and Head of Life Insurance and Annuity Product Development and Pricing at Brighthouse Financial and Vice President of Life Product Development at MetLife. SARA GRILLO: I do.
We wanna be sure that our communications tools leverage large language models so they can be highly personalized. 00:36:07 [Speaker Changed] The, the SEC is incredibly concerned that financial performance is the primary measure by which the advisor communicates to the investor their success. 00:41:16 [Speaker Changed] Yeah.
And I, and I really like the application of math and statistics and computer science to markets. Corey Hoffstein : So throughout 2013, I was doing a lot of this research. And so in 2013, I’m staring down my largest client, all of a sudden it becomes obvious. It’s just not smart on a math basis to do that.
Yeah, you have to, you know, the conceit of finance is that basically the math is all there is to it. So you mentioned half math, half Shakespeare. Let’s talk about the math side. Ivanka said, oh no, you don’t have to be able to do math to do real estate 00:20:13 [Speaker Changed] Or investing for that math.
And then I don’t know what God smiled on me, but I got hired by the Wall Street Journal in 2013. RITHOLTZ: So you start in 2013, and then you proceed to get some major news stories that you either covered intimately or broke. You know, when I got hired in 2013, M&A was dead. RITHOLTZ: The communication was bad also.
They kept the reputation intact by communicating with their investors. So in 2013, just like you said, VCs are not perfect. LINDZON: So at the time in 2013, you could look through the financial statements of Schwab and TD public statements, and they were spending $150 for a customer acquisition. So think about this, do the math.
And when I went there I was gonna be a lawyer and I was gonna major in mathematics and I took my freshman year math and that all went great. And it turned out that half of that class had been the US National Math team and they had all competed internationally and they knew stuff I didn’t.
There’s a lot of people writing about that back in 2012, 2013, that they started selling at a premium multiple to the market, which is very obviously not the case today. RITHOLTZ: The research department in the FOMC don’t seem to communicate. That’s — SIEGEL: Yeah. SIEGEL: Yeah. SIEGEL: Yeah. I mean, I hope so.
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