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But it occurred to them that their solution was useful outside of HR — and that many of the things that made someone a good hire of over time could also make them a good creditrisk over time, if the artificial intelligence (AI) model they were using to screen with were modified to that task.
And so, with this gave me exposure to everything from investment banking to retail, looking at like checking account campaigns, like how do you get more assets in the door to creditrisk. I — I loved math, but really, I was going to go down that literature route more than anything else and — and study Spanish literature.
SEIDES: That allows you to make charitable bets based on long-term educational beliefs. What was interesting was I had said to him, “Well, let’s make this really educational. The challenge is unlike the S&P 500, hedge funds sit in a box that has underlying creditrisk from prime brokers. So back in 2007.
There are an endless variety of business models and seeing how people operate that, it’s really an education, one that I think a lot of people coming out of school don’t think about, because you think about the sexy things. And you had to take on significant duration risk and creditrisk just to earn a couple percentage points.
But there are so many tools at your disposal, and let alone how much duration you’re taking, how much interest, how much creditrisk you’re taking, illiquidity, et cetera. And how do you make the decision, I’m not comfortable with this creditrisk relative to the return it’s going to throw off?
Barry Ritholtz : So, so let’s talk a little bit about your career in real estate, but before we get to that, I just gotta ask on your LinkedIn under education, it says, didn’t graduate, none working for a living. And up until that moment in time, we didn’t spend a lot of time on creditrisk in mortgages.
And so I, and I don’t mean attending class for your own education, but I meant if you want to teach, you have to go to the local schools, Jeffrey Sherman : Order a course, watch a teacher, do what you’re studying to do and say, Hey, is this for me? The, the math came easier. And I really hated physics, really.
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