Economist
Professor
Laurence
Kotlikoff,
returns
with
a
new
FREE
book:
You're
Hired!
With
over
$220
in
national
debt,
if
10%
of
the
GDP
were
directed
to
paying
of
the
debt,
it
would
still
require
an
infinite
number
of
years.
Dr.
Kotlikoff
admonishes
policymakers
for
ignoring
the
warning
of
the
national
founders,
not
to
burden
the
young
with
debt,
to
the
benefit
of
retirees.
Officials
are
determined
to
continue
money
printing
ways,
ultimately
culminating
with
inflation
and
higher
PMs
prices.
Dr.
Kotlikoff
and
the
host
see
warning
signs
that
the
US
equities
markets
is
overpriced
continue
to
appear.
Investment
legend
Warren
Buffett
is
holding
most
of
his
funds
in
cash,
over
$80
billion,
despite
his
reputation
for
holding
steady
through
tough
times.
Due
to
massive
leverage
and
opacity
in
the
banking
system,
the
bank
stress
tests
are
useless;
another
2008
style
credit
crisis
is
inevitable.
Dr.
Paul
Wilmott
from
the
quantitative
finance
website,
Wilmott.com
returns
with
comments
on
his
magnum
opus,
endorsed
by
the
legendary
Nassim
Taleb.
The
duo
engage
in
an
enthralling
discussion
on
the
true
nature
of
financial
risk
versus
the
expected
risk
predicted
by
traditional
econometric
models.
The
guest
and
host
concur,
the
financial
field
is
deluding
itself
with
seemingly
solid
theories
that
simply
do
not
account
for
the
reality
of
black-swan
events.
The
duo
applaud
economists
/
financial
engineers
for
attempting
to
model
the
complex
/
chaotic
field
of
human
behavior
vs.
the
natural
sciences.
The
financial
theorist
(guest)
outlines
the
ramifications
of
algorithmic
trading
while
the
financial
experimentalist
(host)
presents
his
findings
from
his
3rd
party
documented
89%
win
rate
on
over
600
trades.
Please
listen
here
Dial-Up
Real
Audio
MP3
FAST
Download
Highest
Quality
Download
Right
click
above
&
"Save
Target
As..."
to
download.
To
learn
more
about
software
needed
to
play
the
above
formats,
please
visit
the
FAQ.
Guest
Biographies
Dr.
Paul
Wilmott
wilmott.com
Paul
Wilmott
is
a
financial
consultant,
specializing
in
derivatives,
risk
management
and
quantitative
finance.
He
has
worked
with
many
leading
US
and
European
financial
institutions.
He
is
a
member
of
the
Physics
in
Finance
Committee
of
the
Institute
of
Physics,
and
is
on
the
editorial
boards
of
several
academic
journals.
Paul
studied
mathematics
at
St
Catherine’s
College,
Oxford,
where
he
also
received
his
D.Phil.
He
founded
the
Diploma
in
Mathematical
Finance
at
Oxford
University
and
the
journal
Applied
Mathematical
Finance.
He
is
the
author
of
Paul
Wilmott
Introduces
Quantitative
Finance
(Wiley
2007),
Paul
Wilmott
On
Quantitative
Finance
(Wiley
2006),
Frequently
Asked
Questions
in
Quantitative
Finance
(Wiley
2006)
and
other
financial
textbooks.
He
has
written
over
100
research
articles
on
finance
and
mathematics.
Paul
Wilmott
was
a
founding
partner
of
the
volatility
arbitrage
hedge
fund
Caissa
Capital
which
managed
$170million.
His
responsibilities
included
forecasting,
derivatives
pricing,
and
risk
management.
Dr
Wilmott
is
the
proprietor
of
www.wilmott.com,
the
popular
quantitative
finance
community
website,
the
quant
magazine
Wilmott
and
is
the
Course
Director
for
the
Certificate
in
Quantitative
Finance.
Paul
Wilmott
was
a
professional
juggler
with
the
Dab
Hands
troupe.
He
also
has
three
half
blues
from
Oxford
University
for
Ballroom
Dancing.
Laurence
J.
Kotlikoff
is
a
William
Fairfield
Warren
Professor
at
Boston
University,
a
Professor
of
Economics
at
Boston
University,
a
Fellow
of
the
American
Academy
of
Arts
and
Sciences,
a
Fellow
of
the
Econometric
Society,
a
Research
Associate
of
the
National
Bureau
of
Economic
Research,
and
President
of
Economic
Security
Planning,
Inc.,
a
company
specializing
in
financial
planning
software.
An
active
columnist,
Professor
Kotlikoff's
columns
and
blogs
appear
in
the
Financial
Times,
Bloomberg,
Forbes,
Vox,
the
Economist,
Yahoo.com,
and
the
Huffington
Post.
Professor
Kotlikoff
received
his
B.A.
in
Economics
from
the
University
of
Pennsylvania
in
1973
and
his
Ph.D.
in
Economics
from
Harvard
University
in
1977.
From
1977
through
1983
he
served
on
the
faculties
of
economics
of
the
University
of
California,
Los
Angeles
and
Yale
University.
In
1981-82
Professor
Kotlikoff
was
a
Senior
Economist
with
the
President's
Council
of
Economic
Advisers.
Professor
Kotlikoff
is
author
or
co-author
of
16
books
and
hundreds
of
professional
journal
articles.
His
most
recent
books
are
The
Clash
of
Generations
(co-authored
with
Scott
Burns,
MIT
Press),
The
Economic
Consequences
of
the
Vickers
Commission
(Civitas),
Jimmy
Stewart
Is
Dead
(John
Wiley
&
Sons),
Spend
‘Til
the
End,
(co-authored
with
Scott
Burns,
Simon
&
Schuster),
The
Healthcare
Fix
(MIT
Press),
and
The
Coming
Generational
Storm
(co-authored
with
Scott
Burns,
MIT
Press)
and
Generational
Policy
(MIT
Press).
Professor
Kotlikoff's
writings
and
research
address
financial
reform,
personal
finance,
taxes,
Social
Security,
healthcare,
deficits,
generational
accounting,
pensions,
saving,
and
insurance.
Professor
Kotlikoff
has
served
as
a
consultant
to
the
International
Monetary
Fund,
the
World
Bank,
the
Harvard
Institute
for
International
Development,
the
Organization
for
Economic
Cooperation
and
Development,
the
Swedish
Ministry
of
Finance,
the
Norwegian
Ministry
of
Finance,
the
Bank
of
Italy,
the
Bank
of
Japan,
the
Bank
of
England,
the
Government
of
Russia,
the
Government
of
Ukraine,
the
Government
of
Bolivia,
the
Government
of
Bulgaria,
the
Treasury
of
New
Zealand,
the
Office
of
Management
and
Budget,
the
U.S.
Department
of
Education,
the
U.S.
Department
of
Labor,
the
Joint
Committee
on
Taxation,
The
Commonwealth
of
Massachusetts,
The
American
Council
of
Life
Insurance,
Merrill
Lynch,
Fidelity
Investments,
AT&T,
AON
Corp.,
and
other
major
U.S.
corporations.
He
has
provided
expert
testimony
on
numerous
occasions
to
committees
of
Congress
including
the
Senate
Finance
Committee,
the
House
Ways
and
Means
Committee,
and
the
Joint
Economic
Committee.
