Douglas Diamond

And it was more than just Fama.

It was... you know the finance faculty there were really amazing and being able to work with them present papers to them and then you know see their research as it was coming out it was incredibly stimulating and this was back before any of them had gotten nobel prize in in economics and you know a number of them went on to become nobel laureates In fact, other people I worked with way back then, I mean, three of them got Nobel Prizes, and then our mutual fund board has those in addition to the Merton Miller and Myron Scholes, and they've added Bob Merton and Doug Diamond over time, so...

In total, we've worked with five Nobel laureates.

And these are all young, bright people doing great research at the time.

Well, no, that's right.

Let's just start with the Nobel laureates, Merton, Miller, Gene Fama, Myron Scholes, Bob Merton, and Doug Diamond.

Kind of an impressive group of characters.

That's a

So he couldn't be an independent director anymore.

And then the most recent was Doug Diamond.

You know, I guess a couple years ago now he got his Nobel.

I don't know if I got all of them.

Fama, Miller, Scholls.

Bob Merton, and then, yeah, Doug Diamond.

And Doug Diamond, until recently, was the independent director for the fund.

So they've not only stayed with us.

That's a really complicated problem.

The only person I know who might have solved that problem for himself is Doug Diamond, who is one of the smartest people I know and is completely fascinated with these kinds of problems.

So, you know, if I have a finance question, I go ask Doug.

But for people who don't have access to Doug, it's completely preposterous that they're doing anything like figuring out the present value of their future income and simulating all the investment possibilities, and then figuring out their life expectancy and updating that all the time.