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?
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.
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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.
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?
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.
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.
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.
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