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Old 01-14-2018, 09:18 AM
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JohnLocke JohnLocke is offline
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Originally Posted by Colonel Smoothie View Post
I see where you're going with this, and in some aspects I agree but if that logic were carried to an extreme, nobody would be willing to hire ELs because they can't really do anything. I think to some extent there is an expectation that a hire will get better over time. Is there some more elaboration that would take this example into consideration?
It wasn't meant to be some statement of unnassailable truth. I don't have the time to make that precise a statement.

The EL case isn't that hard to understand. EL employees usually are negative value initially. While the value is in the acquired skills a company can be willing to make an investment in letting you acquire them and see positive NPV. Most of the objections to my statement are probably similiar: NPV vs current value differences.

My point is the reliance on the word "ability" which can take on multiple meanings. Could some really smart person do my job? Yes and no. Many people could learn my job given a few years but given that it needs to be done today most people don't have the ability.

My statement was a reaction to this statement:

This fallacy about one type of quantitative person being able to solve business problems and another type of quantitative person not being able to solve business problems is annoying.
Which I think Riley is getting at the point that actuaries often present themselves as the only professionals able to solve certain types of business problems. There is a lot of hyperbole in how the actuarial societies present themselves. Yet, within our small corner of the world (insurance), its close enough to the truth. I don't think any (sane) actuaries think we can be everything to everyone, regardless of what the PR is.
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Last edited by JohnLocke; 01-14-2018 at 09:36 AM..
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