2003 and Math - Financial Advisor Source

10 Tuesday AM Reads

The Big Picture

AUGUST 29, 2023

My Two-for-Tuesday morning train WFH reads: • Stock Pickers Never Had a Chance Against Hard Math of the Market : In years like this one, when just a few big companies outperform, it’s hard to assemble a winning portfolio. 2000-2003 Dotcom implosion 6. Businessweek ) but see With cash earning 5%, why risk money on the stock market?

Insurance

Insurance Math Economics Economy

Assessing Altria and Tobacco Fundamentals Five Years After the Peak

Fortune Financial

MARCH 11, 2023

It is no coincidence, for example, that the two most recent periods of major tobacco underperformance in the last several decades have been driven largely by a huge compression in multiples, the result of serious litigation (1998 – 2003) and regulatory (2017 – present) challenges.

Math

Math Financial Advisor Numbers Marketing

Transcript: Julian Salisbury, GS

The Big Picture

MAY 9, 2023

So I took it upon myself to go off and took a course in bond math, took another course in derivatives and realized the underlying fundamental concepts were barely, I mean, it wasn’t even high school math in most cases. I didn’t know what any of these terms meant. RITHOLTZ: They just became distressed.

Assets

Assets Clients Investing Investments

Webinars

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Transcript: Luis Berruga, Global X ETFs

The Big Picture

DECEMBER 6, 2022

And I did the math, and I think at that point in time, roughly speaking, assets in ETS were roughly just 10 percent, 12 percent of assets in mutual funds and I was pretty convinced that that number was to increase significantly. And I always use the exact same example, how will you invest in Google in 1998, or in Facebook in 2003?

Clients

Clients Investing Investments Management

The Better Letter: October is the Best Month

The Better Letter

OCTOBER 6, 2022

My family and I were evacuated in 2003 due to the Cedar Fire. As Charley Ellis famously demonstrated , investing and life more broadly are loser’s games much of the time, with outcomes dominated by luck rather than skill and high transaction costs. If we avoid mistakes we will generally win. The coolest. The silliest. The oddest.

Math

Math Management Numbers Planning

Transcript: Mike Green, Simplify Asset Management

The Big Picture

AUGUST 20, 2024

00:03:14 [Mike Greene] So that was actually an outgrowth from my experience coming out of Wharton and you mentioned the, the, you know, the transition of people who tended to be skilled at math or physics into finance. We forget that there weren’t personal computers on everybody’s desk back then. She was based out in Los Angeles.

Assets

Assets Management Portfolio Taxes

Transcript: Colin Camerer on Neuroeconomics

The Big Picture

NOVEMBER 19, 2024

Colin Camerer : So I, some of it was when I was in college at Johns Hopkins, I, I studied physics and math. And there was people, Physics didn’t have, people, psychology didn’t have math, economics was kind of the right mix. The math doesn’t math. That was too abstract. Yeah, I’m gonna vote.

Economics

Economics Math Numbers Marketing

Transcript: Mike Wilson, Morgan Stanley

The Big Picture

SEPTEMBER 10, 2024

Well, I mean, so I, I find that, you know, this, and this goes back to, you know, 2003 with Regulation fd, that’s when everything kind of changed. So that’s the math. And they’re like, well, yeah, it could be more, but like, that’s what the Fed’s telling us. Well, it changed in two ways.

Valuation

Valuation Clients Investing Investments

Transcript: Marcus Shaw

The Big Picture

NOVEMBER 22, 2022

RITHOLTZ: Why is it not surprising that a math nerd is also a placekicker? But really, even that experience was about building great friends that I played football with. And many of those gentlemen have gone on to do incredible things as well. It seems to be like the field goal seems to be one of the most mathematical parts of football.

Recruitment

Recruitment Engineering Banking Investing

Transcript: Ilana Weinstein

The Big Picture

JULY 4, 2023

RITHOLTZ: So you launch your own firm IDW in 2003. So we were all learning as we went and just by virtue of doing really one search, it made me the expert because no one else was doing it and so I built my business from there. By the way congratulations that’s 20 years ago so you’re celebrating a big anniversary this year.

Management

Management Recruitment Numbers Banking

Could It Be True?

The Better Letter

NOVEMBER 2, 2023

I couldn’t make that math work at all plausibly. That said, over the past 20 years (2003-2022), the S&P 500 delivered a 9.80 It’s almost all powerful and good stuff, with one major error. Did you catch it? Here’s about as close as I could come. Maybe he simply made a mistake. Maybe he misspoke.

Certified Financial Planner

Certified Financial Planner Investing Investments Portfolio

Transcript: Joel Tillinghast, Fidelity

The Big Picture

DECEMBER 12, 2023

And I was a math nerd as a kid. So my grandmother realizing that this was her source of income, wanted to be sure she had the right stocks, and she got a trial subscription for 29 bucks for 13 weeks of the value line. It was the kind who thought it’s cool that 1, 2, 3, 4, 5, 6, 7, 8, 9 times eight is roughly 9, 8, 7, 6, 5, 4, 3, 2, 1.

Management

Management Investing Investments Retail

Transcript: Sean Dobson, Amherst Holdings

The Big Picture

MARCH 12, 2024

So that little detour was in 2003. So think about 2003 home prices had gone up a lot from 2000. So mortgage position in 2000 were way more valuable in 2003 than they were when they originated because they weigh less credit risk. And I was always good at math and, and I had been writing code since I was in the sixth grade.

Banking

Banking Marketing Marketing Investing

Forecasting Follies 2024

The Better Letter

JANUARY 11, 2024

That’s why the markets are much more of a mind game than a math game. And that’s why markets will always be exceedingly hard, even when the math seems easy or the future seems certain. Stop with the math.` Beyond the present lies imagination. And lots of surprises. Also interesting. The most optimistic.

Economy

Economy Economics Math Banking

Transcript: Dave Nadig

The Big Picture

NOVEMBER 15, 2022

I mean, there were some advisor pickup, but you had to be kind of on the front edge of finance, or a quant, or running your own models, which in 2003, was not that common. So as much as I’m personally still a pretty strong skeptic of active management, I mean, I understand the math, and the odds are not in your favor.

Management

Management Assets Portfolio Investing

Transcript: Matt Eagan

The Big Picture

JULY 15, 2024

I started out math and, and physics, and in high school I was a rock star in math and physics. And that persistent until about 2003. He went through the math and I’m like, wow, that’s a great return. I realized I am not like these people and this is not what I want to do. But those guys are great, right?

Portfolio

Portfolio Banking Management Portfolio Management

Transcript: Bill Browder

The Big Picture

AUGUST 23, 2022

So, I did the math, 20 million times a hundred. So, let me just repeat the math. And so, again, I went through this simple math. And he came up with a plan in late 2003 to solve this problem with the oligarchs and what he did was there was one oligarch in particular who was the richest oligarch. They said, seven years.

Government

Government Banking Numbers Investing

Financial Advisor Source

10 Tuesday AM Reads

Assessing Altria and Tobacco Fundamentals Five Years After the Peak

Webinars

Trending Sources

Transcript: Julian Salisbury, GS

Webinars

Transcript: Luis Berruga, Global X ETFs

The Better Letter: October is the Best Month

Transcript: Mike Green, Simplify Asset Management

Transcript: Colin Camerer on Neuroeconomics

Transcript: Mike Wilson, Morgan Stanley

Transcript: Marcus Shaw

Transcript: Ilana Weinstein

Could It Be True?

Transcript: Joel Tillinghast, Fidelity

Transcript: Sean Dobson, Amherst Holdings

Forecasting Follies 2024

Transcript: Dave Nadig

Transcript: Matt Eagan

Transcript: Bill Browder

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