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I was always good at math, but I really, I just didn’t relate to things that were more esoteric bonds options. But if you are in an old office building without great light, you have low ceilings, you have no amenities, you don’t have a lot of wellness attributes to your building, you’re not in your public transportation.
Not only did he serve on the Brady Commission looking at the ’87 crash, but his history of investing and trading and public service, both at the Fed and the Chicago Board of Trade and Treasury Department, really unparalleled, as well as just a pretty amazing track record as an investor and trader. What did you find? RITHOLTZ: Right.
We participated in that with treasury and FHFA and the regulators, the White House. And they were able to pay for the Super Bowl ad out in embedded in that $10 cost, like the transportation cost to get people to and from these homes. And I was always good at math and, and I had been writing code since I was in the sixth grade.
Wasn’t the Excel spreadsheet error, which changed their math. I’m buying mortgage backed securities and treasuries and I’m hoping it does something. Problem is, the math doesn’t work 01:20:33 [Speaker Changed] Well, you know, math, who really believes numbers should add up.
In fact, I think Secretary of the Treasury at the time said the market will work out these things and they will not become a problem. When you look at the history of the ’80s and even ’90s era LBOs, they seem to be a lot of lesser-known, not necessarily consumer-facing companies, transport and logistics and manufacturing.
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