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But that means if you’re in a company that, at the end of the day, manufactures product, the people in those groups tend to be people that move a lot of the product because that’s the business of the company. And you start doing the math of the staff, and you’re like, “I can hire people for less than this.”
And I did the math, and I think at that point in time, roughly speaking, assets in ETS were roughly just 10 percent, 12 percent of assets in mutual funds and I was pretty convinced that that number was to increase significantly. So I think many of these car manufacturers can see the writing on the wall. RITHOLTZ: Yeah.
Out the investor went, proudly showing the world the newest innovation in clothing design and manufacturing all his own. Bitcoin’s infrastructure is highly concentrated and not all that secure. In concept. There’s no such thing as a free lunch, even in the land of bitcoin. Processing bitcoin requires enormous computing power.
And most people think of Bill, his bread and butter business is activist, very concentrated stock investing, but he has a bit of a background in macro too, back from ’07, ’08, and he actually decides to do this in the credit markets, where spreads are incredibly tight. RITHOLTZ: Manufacturing, Ford as an example, sure.
Wasn’t the Excel spreadsheet error, which changed their math. So we all try shoving what money we do have into the goods pipeline and goods have to be manufactured and shipped. But I also said you could make changes to the tax code if you have, you know, deep concerns about concentrations of wealth and income.
If you’re the paint manufacturer in California needing a drum of chemicals that’s stuck in Washington state, and now you gotta tell your customers you’re late with the order, that doesn’t seem particularly efficient. In moving so much manufacturing capacity to China. 00:15:18 [Speaker Changed] Love it.
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