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.

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Investing Investments Numbers Banking 260

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? You give out 5%.

Investing 130

Investing Investments Clients Management 130

The Big Picture

AUGUST 15, 2023

RITHOLTZ: But did the oversight, the governance get it? SEIDES: The success of that governance. So for a taxable investor, hedge funds generally aren’t tax efficient. SEIDES: Yeah, I wouldn’t measure it in terms of economic returns. It’s part of their own tax planning. They really did.

Management 130

Management Investing Investments 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 293

Clients Wealth Management Investing Investments 293

The Big Picture

AUGUST 29, 2023

So a variety of risk meetings, a variety of economic meetings. Also being cognizant of the tax implications of trading activity. They like tax-free income, but they also don’t like principal losses. It’s also being part of the senior team that runs Vanguard, the business of Vanguard, right?

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Portfolio Investing Investments Numbers 130

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. As it did, I worked for a very large syndicator right out of school, which was right around the time the tax laws changed. But in those days, there were very tax driven investment. I have no family history.

Assets 261

Assets Investing Investments Management 261

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.

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Retail Government Economy Economics 130

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 144

Banking Investing Investments Marketing 144

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. It’s all tax free. In not paying your taxes. So ba in mathematics and philosophy from Berkeley, an MBA from Columbia.

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Numbers Management Banking Marketing 144

The Big Picture

JUNE 20, 2023

MORGENSON: Well, they did very well because they got a lot of CARES Act money from the government. Let’s talk about tax loopholes. How on earth is there still a carried interest tax loophole for private equity, hedge funds, and venture capital? Cut my taxes in half, where do I sign up for that?

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Insurance Healthcare Retail Medicine 144

The Big Picture

APRIL 2, 2024

He is so knowledgeable about so many unusual areas in economics. You’re the author of 200 plus papers, six books, deaths of Despair, which you wrote with Anne Case who happens to be your wife, was a New York Times bestseller and your latest book, economics in America, an Immigrant Economist, explores the Land of inequality.

Healthcare 144

Healthcare Medicine Economics Numbers 144

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

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Investing Investments Startup Accounting 246

The Big Picture

OCTOBER 3, 2023

 The transcript from this week’s, MiB: Gary Cohn, Director of the National Economic Council, President of Goldman Sachs , is below. We dive deep into all sorts of things about running businesses, managing risk, and then when we began talking about his public sector service, we went deep into the Tax Cuts and Job Act of 2017.

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Taxes Banking Clients Management 274

The Big Picture

NOVEMBER 15, 2022

Hey, show me companies where the board has at least two women on it, or you could tilt towards value, or you could tilt towards small cap, or you can use it for tax loss harvesting or philanthropy. I read all those academic papers, I understand where the math comes from. It’s how math works. RITHOLTZ: Right. NADIG: FRDM.

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Management Assets Portfolio Investing 273

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. Whenever I see, you know, a groundbreaking where some giant company comes in with all these tax abatements, we start with Foxconn in Wisconsin, turned out to be a bust. RITHOLTZ: Wow.

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Startup Investing Investments Numbers 167

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.

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Government Banking Numbers Investing 318

The Big Picture

AUGUST 22, 2023

CASS SUNSTEIN, FOUNDER, HARVARD LAW SCHOOL’S PROGRAM ON BEHAVIORAL ECONOMICS AND PUBLIC POLICY: Thank you, a great pleasure to be here. RITHOLTZ: There’s nobody in the world of economics or behavioral finance like Dick Thaler. I thought law and economics was extremely important and kind of on the right track.

Economics 245

Economics Media Government Numbers 245