Remove Entertainment Remove Math Remove Treasury
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Transcript: Brian Higgins, King Street

Barry Ritholtz

I’m good at math and science and you know, I always had an idea what go into business, but I felt that electrical engineering would be a good foundation. You know, I, it always, I I see different numbers all the time, so it’s always kinda like, who’s math if you will? What’s been been keeping you entertained?

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Transcript: Cathy Marcus, PGIM Real Estate

Barry Ritholtz

I was always good at math, but I really, I just didn’t relate to things that were more esoteric bonds options. And, and that is, you know, the treasuries were so low that you could be, have a 4%, 5% yield, even 3% on a real estate investment and still have a nice cushion over treasuries. I have no family history.

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Transcript: Greg Davis, CIO Vanguard

Barry Ritholtz

And when you think about translating the S&P 500 PE to an implied equity risk premium by looking at the 10 year treasury yield, you’re 200 basis points below what it’s been for the last 10 years. Tell us a little bit about what you’ve been streaming, what’s been keeping you entertained these days.

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Transcript: Graeme Forster, Orbis Investments

Barry Ritholtz

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. Some people look at a casino as entertainment and hey, we’re gonna spend X dollars, pick a number, 500, 2000, whatever it is.

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Transcript: Rick Rieder

Barry Ritholtz

But since you mentioned getting return on the risk you take, how do you think about duration when the three-month Treasury is more or less the same or better than the 10-year? RIEDER: Why do you need the price of the Treasury market to the two-year forward or the three-year forward? And I think people underestimate U.S. RIEDER: Yeah.

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Transcript: Ted Seides

Barry Ritholtz

So you go back a couple of years and you could say, “Well, what return is available buying a treasury?” ” And it turned out, if you looked at the market at that time, it was, I’ll call it 1%, five-year treasury or 10-year treasury. It’s just entertainment. We are deposits cost less than that.

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Transcript: Steven Klinsky

Barry Ritholtz

September 13, 1981, I think the 10-year Treasury was 15.84 percent 10-year Treasuries, it is nowhere near kind of the situation. KLINSKY: Well, that’s why I tried to say my first day at work, intra-10-year Treasuries were 15.8 RITHOLTZ: So it’s different math then I need 100x winner versus 99? RITHOLTZ: Yeah.