This video is another clip from a half hour program produced at KMVT in Silicon Valley. The clip is an interview with the former Executive Director of the City and County of San Francisco Retirement System, Clare Murphy; and Dr. Sam Savage from Stanford University.
The important thing to take away from my interview with Clare is the changes she introduced during her 25 year tenure as CEO. As the assets under management grew from $600 million to $16 billion the use of outside active managers grew from approximately 10 to 40 managers. This constituted about 80% of the AUM. This is contrary to the view that the more money one has the more you rely on passive indexes. Clare was on the cover of Institutional Investor Magazine in 2005 and was semi finalist for public fund of the year award.
Sam has written an excellent book titled, The Flaw of Averages. It is the best book on interpreting statistics I have read, and it is written for practitioners, not statisticians. Sam mentions the work of Bradley Efron who received the National Medal of Science award in 2007 for his bootstrap methodology. The National Medal of Science is an honor bestowed by the President of The United States on those who have made important contributions to the advancement of knowledge in the sciences.
Sam says, Efron is one of those rare individuals who straddle a technological divide. Schooled in classical statistics, he inspired a revolution that supplanted it. Efron’s work has been critical to my own. I believe it is a quantum leap forward from what currently passes for estimating “the shape of the future “ Sam describes and what I call the shape of uncertainty.
If you would like to see the complete video go to the KMVT Channel.
Videos
-
Recent Posts
- Who’s to Blame for all our Problems? December 22, 2022
- Puzzled at What is Going On in the World? December 2, 2022
- Actions Are Worth a Thousand Words November 25, 2022
- Time to take some chips off the table November 11, 2022
- Now is Not Then September 23, 2022
- Flags are UP! September 7, 2022
- The Milgram Experiment Redux September 4, 2022
- Who Knows? August 29, 2022
- Who’s Short Tech? August 14, 2022
- Que Sara, Sara. July 24, 2022
- Get off the Bench & Get in the Game July 15, 2022
- A Light at the End of the Tunnel? July 5, 2022
- We’ve Been Here Before June 30, 2022
- 1 Parking Place Left @ VCSH June 22, 2022
Archives
- December 2022 (2)
- November 2022 (2)
- September 2022 (3)
- August 2022 (2)
- July 2022 (3)
- June 2022 (4)
- May 2022 (5)
- April 2022 (3)
- March 2022 (2)
- February 2022 (5)
- January 2022 (7)
- December 2021 (2)
- October 2021 (1)
- August 2021 (1)
- March 2021 (2)
- February 2021 (1)
- December 2020 (1)
- July 2020 (1)
- May 2020 (6)
- April 2020 (3)
- March 2020 (6)
- February 2020 (2)
- January 2020 (1)
- July 2019 (2)
- June 2019 (1)
- May 2019 (2)
- April 2019 (1)
- March 2019 (1)
- February 2019 (1)
- January 2019 (1)
- December 2018 (1)
- March 2018 (1)
- February 2018 (1)
- June 2017 (1)
- March 2017 (2)
- September 2015 (1)
- March 2015 (1)
- February 2014 (1)
- January 2014 (1)
- December 2013 (1)
- April 2013 (1)
- March 2013 (1)
- November 2012 (1)
- July 2012 (1)
- June 2012 (1)
- May 2012 (1)
- January 2012 (2)
- December 2011 (1)
- September 2011 (1)