Spencer Jakab

speaker

981 appearances 14 recordings 1 series first heard Jul 2017 last heard Jun 2021

Spencer Jakab’s voice in public audio — every appearance, attributed to the second.

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Appearances

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WSJ Your Money Briefing · U.S. Public Pensions: Victims of Rosy Future Predictions? · 29 Jul 2019 podcast

They all have to keep up. voice-verified

Otherwise, they're kind of shortchanging organizations. voice-verified

all the other municipalities in there. voice-verified

Now, if they were to suddenly say, you know what, the discount rate that we've been using, and they're among the more conservative ones, I have to say, but the discount rate we've been using is a little too rosy. voice-verified

We're going to knock that down by a percentage point. voice-verified

You'd basically have to have them pony up the equivalent of over $2,000 per California household if that were to happen. voice-verified

I mean, so- voice-verified

So a little difference in their assumptions makes a big, big difference. voice-verified

So what do they do if there's a year where they've kind of fallen short of where they want to be? voice-verified

Then they tell those municipalities and they smooth out that difference over multiple years. voice-verified

Which on some level makes sense because you can't just go to cities that have, you know, all potholes to fill and policemen to pay and schools to operate and say, oh, you know, by the way, can I have like 30 percent of your budget this year to plug this hole? voice-verified

They just don't. voice-verified

You'd bankrupt them. voice-verified

You don't have the money. voice-verified

On the other hand, it makes it especially awkward to, you know, kind of look at the situation and say, you know what, this is there's no way that the math works here. voice-verified

WSJ Your Money Briefing · Decoding Warren Buffett: Book Value vs. Market Value · 27 Feb 2019 podcast

So book value is a by-the-book accounting measure. matched

It shows the assets and the liabilities of a company and the value that accrues to shareholders. matched

It's very hard to fudge. matched

Market value moves up and down the whims of the market. matched

It depends how matched

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