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Tuesday links: paying for the news

Abnormal Returns

Fund management There is no escaping the math on leveraged ETFs. reuters.com) Economy Quits and job openings are down year-over-year. economy is still pretty dynamic, for now. abnormalreturns.com) Adviser links: loving clients' problems. linkedin.com) Why CITs are cheaper than mutual funds.

Math 147
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Q&A: Your Money Map

The Big Picture

These days, turning on the TV to get the latest news about the markets and the economy can be enough to send anyone into panic mode. The second section of your book focuses on Bad Numbers, or in other words, misleading numbers that could drive the economy, the markets and ultimately, your investments.

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Transcript: Velina Peneva, Swiss Re Chief Investment Officer

The Big Picture

I took a lot of math classes. So it was Pascal then c plus plus, and then I took an economics class and that’s when the lights went off because it was a very mathematical field in many ways, but also with a link to the Rio economy. I couldn’t give up math in computer science. But for me, this was not an option.

Investing 144
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Transcript: Steve Laipply, Global Co-Head of Bond ETFs at BlackRock

The Big Picture

It’s sort of like math with dollar signs attached to it. Steve Laipply : Yeah, so I, I think that group, the idea was to work with institutional clients to really help them manage risk, right? And so that caused a general rethinking of the way the economy is going to move going forward. I really like it. I was hooked.

Portfolio 130
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Transcript: Lisa Shalett, CIO Morgan Stanley

The Big Picture

I knew that I wanted to work with clients. And, you know, she had kind of gone to bat very controversially asking the bank to protect clients on, on some of the products that had gone bad. All the clients were getting proprietary Sanford Bernstein asset Management product. So I took the plunge, I quit.

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Transcript: Richard Bernstein, CEO / CIO of RBA

The Big Picture

My biggest client turned out to be the Merrill Lynch Investment Strategy Group. Went back and got my MBA, and after a while, without sounding stupid about this, realized I was a, I knew more about this stuff than many of my clients did. But the heart of the firm was still on the private client side for any number of strategic reasons.

Numbers 144
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Transcript: Stephanie Kelton on US Fiscal Policy and the ‘Deficit Myth’

The Big Picture

It’ll reduce new company formation, it’ll make us borrowing costs skyrocket, it’ll devalue the US dollar, it’s gonna cause rampant inflation and it will act as a drag on the overall economy. Wasn’t the Excel spreadsheet error, which changed their math. And their economy seems to be doing just fine.

Economy 144