~~~
VOICEOVER: This is Masters in Business with Barry Ritholtz on Bloomberg Radio.
BARRY RITHOLTZ, HOST, MASTERS IN BUSINESS: This week on the podcast, I have an extra special guest. His name is Sebastien Page, he is the head of multi-asset investing at investing giant T. Rowe Price. They run about $1.3 trillion, he runs about $360 billion of it. This really is a master class on asset allocation, diversification, risk management, and the concept of expected returns versus expected risk. As it turns out, it’s easier to predict risk than it is to predict returns. I don’t know what else I can say about this other than if you are an asset allocator, a wealth manager, anybody who’s thinking about managing assets over the next 10, 20, 30 years, then you are going to find this to be an absolutely fascinating conversation.
ignore the facts, and they re going to call names. but we are crazy about freedom and about the greatest country in the world. . lastly, there is one thing that we must not do, one thing that we must not do. but let me set this up with a story. when i was in college, i was in a mathematics major and a physics major. i have forgotten all the thought the physics that i thought i ever learned, but i was a business minor. i never did forget that aerodynamically, a bumblebee is not supposed to fly. . and they refine the absolom and the delta to a few hundred decimal places and put it in a bigger computer. what is the aerodynamics equation and the master computer comes back and says that the soccer still cannot fly. [applause] [laughter] there is only one reason. there is only one reason that the bumble bee flies. the bumble bee believes he can fly. [applause] here s what i want you to never do. never, never, never give up on us taking back this country. i believe we are the g
words ever strung together in the english language, and, folks from north carolina, it s not start your engines. [laughter] it is we the people. . for this is your organization, you own it. it is yours. because we can defeat the radical left that wants to control çour prosperity, contr our lives and mortgage t(our children s future. with you, we can stop them. because we are right and they are wrong. [applause]ç ladies and gentlemen, my name is xddallas woodhouse, and i wo with americans for prosperity.ç but if you çbelieve in the tim honored principles of limited government and free market çan american exceptionalism, ladies and gentlemen, it is my honor to work for you. ladies and gentlemen, pleaseç welcome radio host, hugh hewittç [applause] 7[ i really would like xdto beg by thanking my friend, tim for putting [3o=7óme on afterón h and dallas woodhouse, that s nice of tim. and i am pleased to be here, i am representing that group of people that attr
greta: we are closing down shop. watch. here s glenn. [captioning made possible by fox news channel] captioned by the national captioning institute -www.ncicap.org -^ three, two, one, beck! andrew: welcome to the glenn beck program. glenn is off tonight. i m judge andrew napolitano. tonight we focus on women s issues and the healthcare bill, and we will get an up close and personal look at one brand of government-run healthcare, and where does congress get the power to do universal healthcare and cap and trade from? the constitution explained, if you believe this country is great but the government is destroying it, stand up. no sneakers, no m&ms, but plenty of facts. follow me. healthcare reform is sparking contentious debate around the country. at the white house, robert gibbs explaining today that president obama is not backing off the public option. he clarified the president s position. take a listen. the president s position and the administration s position is unc
beck on fox, where it s a warm and fuzzy thing with all who watch. here s glenn. [captioning made possible by fox news channel] captioned by the national captioning institute -www.ncicap.org -^ three, two, one, beck! andrew: welcome to the glenn beck program. glenn is off tonight. i m judge andrew napolitano. tonight we focus on women s issues and the healthcare bill, and we will get an up close and personal look at one brand of government-run healthcare, and where does congress get the power to do universal healthcare and cap and trade from? the constitution explained, if you believe this country is great but the government is destroying it, stand up. no sneakers, no m&ms, but plenty of facts. follow me. healthcare reform is sparking contentious debate around the country. at the white house, robert gibbs explaining today that president obama is not backing off the public option. he clarified the president s position. take a listen. the president s position and the admin