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If a person from 1700 asked you your job, would they understand your answer, and if not, how would you explain it to them? (lemm.ee)

submitted 8 months ago by JackGreenEarth@lemm.ee to c/asklemmy@lemmy.ml

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[–] Phate18@lemmy.world 8 points 8 months ago* (last edited 8 months ago)

I try to predict the future in order to find a way for us to invest the money universities have given us that ensures we can pay scholars a modest wage once they're too old to work. The goal is to not run out of money before the last scholar dies.

I'm a stochastic Asset Liability Modelling specialist in the financial and investment risk function of the asset management company of a pension plan for the university sector.

Stock markets and securities had already existed in various forms for centuries, but pensions and insurance are really more of 19th century phenomenon, as are probabilistic views of the world (closely related). Stochastic analysis is a 20th century beast, and multidimensional non-linear optimisation in financial mathematics is a relatively recent 21st century development!