Quote:
Originally Posted by zeyneddine
observational experience, yes.
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Okay. So in other words ... no real experience at all.
- JP did his math and it gave him a 3.5 billion payday.
- Simons over at Renaissance does his math every year and it gives him a $1 billion payday.
- People at Vanguard do their math and that's why their performance out-paces the benchmarks by as much as 5:1
- One of my brothers-in-law is a director at the insurance division of a major Canadian bank, and is an actuary by education and profession. He does his math daily and that's how he protects the bank from risk and simultaneously preserves some extremely healthy margins.
Clearly, in the real-life, real-world, hands-on experience of these people and many others, "doing the math" definitely pays off very nicely.