Remove Credit Risk Remove Leverage Remove Math Remove Sales
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Transcript: Kristen Bitterly Michell

Barry Ritholtz

KRISTEN BITTERLY MICHELL, HEAD OF NORTH AMERICAN INVESTMENTS, CITI GLOBAL WEALTH: It’s really interesting because I’m not someone that you would think would be the typical profile to end up in capital markets or — or sales and trading. BITTERLY MICHELL: Not in leveraged, no, not at all, give more …. I was econ and kind of geeky.

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Transcript: Rick Rieder

Barry Ritholtz

And then somebody convinced me to go into sales and trading, and I decided to do that. You know, people are comfortable, leverage builds. But there are so many tools at your disposal, and let alone how much duration you’re taking, how much interest, how much credit risk you’re taking, illiquidity, et cetera.

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Transcript: Sean Dobson, Amherst Holdings

Barry Ritholtz

And up until that moment in time, we didn’t spend a lot of time on credit risk in mortgages. We didn’t really have to model credit risk because that was, that risk was taken by the agencies. But in these private labels, you had the, the market was taking the credit risk.