2002 Math Taxes 
Random Roger's Retirement Planning
DECEMBER 11, 2024
A 20% drop in managed futures that is leveraged to a 40% weight would have added another 800 basis points to the decline (simple math). The first from when I worked at Fisher Investments in 2002. They are not intended to constitute legal, tax, securities or investment advice or a recommended course of action in any given situation.
Brown Advisory
JUNE 16, 2022
We discount each year at our 10% minimum weighted average cost of capital (WACC) and some infinite series maths gives us the basis for some rough approximations 2. Maths has a long half-life and a DCF correctly done accounts for inflation. GAAP in 2002 7. That assumes I pay no taxes which is very hard.
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The Big Picture
AUGUST 15, 2023
To give you a fun story, we launched Protégé Partners in 2002. And in 2002, the bucket of the largest hedge funds was those north of $1 billion. SEIDES: Before 2002, there were no capacity issues with whoever you thought the best hedge funds were. So for a taxable investor, hedge funds generally aren’t tax efficient.
The Big Picture
JANUARY 21, 2025
But the numbers you can’t argue with, I mean, we all know that the brutal math of investing before costs investors collectively will earn the market return after costs. I did it in 2000, 2002. So what do you discuss with your wife and kids about taxes? They will earn that market return less, whatever they’re paying.
Random Roger's Retirement Planning
JUNE 3, 2023
If congress does nothing, then starting in 2034 incoming payroll taxes would cover 80% of retiree payouts implying a 20% cut. Cutting benefits and raising taxes are the two most talked about way to fix it. There's been talk of raising the cap on payroll taxes. More taxes on workers? FRA of 72? I don't know.
The Big Picture
MARCH 27, 2023
We talk about an S-curve for most industries, and there’s a very rapid expansion when you start with a good idea, and few people going after a very large pot, especially for distressed when you think of the 2001, 2002 periods. I think if I recall correctly, there were some 600 bankrupt companies in one year. So it’s all available.
Random Roger's Retirement Planning
APRIL 18, 2025
The math checks out and while the timing for these funds to launch was simply unlucky, I can't figure how these make managing a portfolio easier. First, it was up in 2000, 2001 and 2002 while the S&P 500 was in the process of cutting half. RSSY is 100% stocks and 100% futures yields and RSST is 100% stocks and 100% managed futures.
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