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One, one is true and I’ve always said is that I wanted people to stop, ask if I could doing math. And no one asked me if I can do math anymore with a degree from Booth, particularly in econometrics and statistics. So people really ask you, you take French and can you do math. Two reasons.
A bachelor’s in economics from Northwestern and then an MBA from University of Chicago. And so I kind of leveraged that when I went to Morningstar because they’re very focused on quality, the whole concept of economic moats, but also about buying companies when they’re trading at a discount to intrinsic value.
But if you don’t mind the work, it’s one of the best work from home jobs for people who love math. Recruiter If you like providing a solution and are good with people, one of the most rewarding stay at home jobs on the market is a recruitment advisor. Recruiters have great earning potential.
So here’s the math, Barry. If you have seven $50 incremental year, then every 10 year old in America, when they enter into the fifth or sixth grade and the teacher says, Hey, today we’re gonna talk about math or compounding or stocks or capitalism, they’ll say, open up. 00:44:49 [Speaker Changed] Correct?
Building multiple passive income streams has an additional benefit in the short term: it can make you more resilient and better able to weather economic shocks, such as what was experienced with the past housing crisis and global pandemic. This is your nest egg. We’ll come back to this. It could save you thousands in the long run!
And so alongside of Wall Street recruiting in my senior year, I interviewed at the Yale Investments Office and was fortunate to get that job and violated the two principles I had at the time, which was I wanted to be in a training program and I wanted to leave New Haven. SEIDES: Yeah, I wouldn’t measure it in terms of economic returns.
We’ll get to where you work at JP Morgan, but economics bachelor’s from Columbia MBA from Harvard. So I decided to become an economics major and a psychology minor. So the intersection of psychology and economics became really interesting. And I did a lot of options math, which I thought was interesting.
Venture capital, private equity, just were not recruiting for those spaces. Wall Street has been pretty bad at recruiting black talent. RITHOLTZ: So is it safe to say that Wall Street, in general, but alternatives like private equity and venture capital, were not recruiting at historically black colleges and universities?
Ilana Weinstein returns to tell us about all the competitive recruiting and superstar talent she’s been working with over the past couple of years. WEINSTEIN: Let me define what we do, because I feel like a fair misconception might be that as a recruiting firm, our job is to help people find jobs. RITHOLTZ: Is it just inertia?
ANAT ADMATI, PROFESSOR OF FIANCE AND ECONOMICS, STANFORD GRADUATE SCHOOL OF BUSINESS: So, my journey starts where I took a lot of math. I was good in math and I love the math. So, I was kind of, in my romantic mind when I was in my early 20s, I was going to take but not give back to math, that kind of thing.
In doing so, I thought this conversation was really quite fascinating, and I think you will also, especially if you’re not only interested in equity, but curious as to how to combine various aspects of market functions, valuation, economic cycle, fed actions into one coherent strategy. But generally starts with the economic cycle.
And your bio explains how you were recruited to Vanguard. So a variety of risk meetings, a variety of economic meetings. And it’s paid off, it’s paid spades in terms of, it helps us make sure that we’re recruiting the right people, it helps us in terms of retaining folks. RITHOLTZ: Right. We believe in this.
What’s similar is what’s happened is in the last particularly decade, more attention got focused on startups and even the government leaders, mayors and governors for decades, economic development was basically getting a big company to move their headquarters, or big company to open a factory. The math never seems to work out.
00:08:01 [Speaker Changed] And then from AssetMark, in October, 2023, you’re recruited to become CEO at Orion. Also the, the underlying philosophy of that just seems fundamentally wrong from an an economic standpoint. If you don’t reduce demand, you could do whatever you want with, you know, supplies.
But let’s start with your background in your career, applied mathematics and economics from Brown and then a Harvard MBA. One of the reasons I went to Merrill is I was recruited by one of my best friends, who is Sally Crotch? 00:31:40 [Speaker Changed] So there’s the emotions and then there’s the math, right?
RITHOLTZ: Meaning it would be a recruitment challenge. My mom was a math teacher so — RITHOLTZ: Okay. It’s probably the most important part of what we do in the macro side, with economic trends, not just price trends, being a relatively recent innovation and super important. He’s the genius in math.
RITHOLTZ: So wait, you’re, I’m trying to do the math, if you were 24 in ‘08, so you got this watch in 2000, 99? ANNOUNCER: Geopolitical risk, changing regulation, economic uncertainty, EY can help you identify the risks that matter. ANNOUNCER: Geopolitical risk, changing regulation, economic uncertainty. CLYMER: Yes.
New York Times ) • How Big Toilet Paper dupes us all : The wild, nonsensical world of toilet paper math, explained. ( The Guardian ) • How Does the CIA Recruit Russian Spies? His field of study looks at the interface between cognitive psychology and economics. Two years ago, the Agency tried a new approach.
Barry Ritholtz : This week on the podcast, another extra special guest, Peter Goodman, is the award-winning investigative reporter and economics correspondent for the New York Times, his latest book, how the World Ran Out Of Everything Inside The Global Supply Chain. And I was ostensibly the economic writer.
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