Summary: May 19, 2017 Featured GuestsProfessor Laurence Kotlikoff & Dr. Paul Wilmott - Chris Waltzek Ph.D. Show HighlightsEconomist 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 discussion includes the Millennial Prizes, including P vs. NP and The Navier-Stokes prizes. 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. About ChrisContact Hostgsradio@frontier.comEnhanced Modern Portfolio Theory via Long-Memory Regimes (Waltzek, 2016).PhD Dissertation - Chris G. Waltzek
