The Big Picture

JULY 11, 2023

JOHNSON: So I spent a year, my father said to me, “Look, if you’re going to be in the financial services business you should probably work in New York.” Otherwise, the West Coast, if you were in the financial services business, it was rough life. I could do my own taxes. RITHOLTZ: Right.

Management 222

Management Investing Investments Assets 222

The Better Letter

APRIL 6, 2023

According to Fidelity , the financial services firm that administers about $10 trillion in assets and has more than 40 million workplace participant accounts, the average 401(k) balance is only around $100,000 and the average Boomer balance (a demographic that is in or near retirement) is only around $200,000. . points since 2008.

Retirement Planning 100

Retirement Planning Retirement Planning Education 100

The Big Picture

MAY 9, 2023

So how do you then go from tax and audit practice to finance and investing? And again, I ended up in the financial services audit practice at KPMG. If I’d moved to Hong Kong, I think it would have looked like a fairly self-serving tax trade. That background of being an accountant was just great bedrock training.

Assets 299

Assets Clients Investments Investing 299

Brown Advisory

SEPTEMBER 19, 2023

The idea has since been refined more quantitatively, first by Benoit Mandelbrot in his 1982 book, The Fractal Geometry, and more recently by Nassim Nicolas Taleb in his 2007 book, The Black Swan: The Impact of the Highly Improbable, and then again in his 2012 book, Antifragile: Things That Gain from Disorder. 3 1 article in The New Republic.

Portfolio 52

Portfolio Investments Investing Financial Services 52

Brown Advisory

SEPTEMBER 19, 2023

The idea has since been refined more quantitatively, first by Benoit Mandelbrot in his 1982 book, The Fractal Geometry, and more recently by Nassim Nicolas Taleb in his 2007 book, The Black Swan: The Impact of the Highly Improbable, and then again in his 2012 book, Antifragile: Things That Gain from Disorder. 3 1 article in The New Republic.

Portfolio 52

Portfolio Investments Investing Financial Services 52

Brown Advisory

SEPTEMBER 21, 2022

The idea has since been refined more quantitatively, first by Benoit Mandelbrot in his 1982 book, The Fractal Geometry, and more recently by Nassim Nicolas Taleb in his 2007 book, The Black Swan: The Impact of the Highly Improbable, and then again in his 2012 book, Antifragile: Things That Gain from Disorder.

Portfolio 52

Portfolio Manufacturing Investments Investing 52

Brown Advisory

SEPTEMBER 21, 2022

The idea has since been refined more quantitatively, first by Benoit Mandelbrot in his 1982 book, The Fractal Geometry, and more recently by Nassim Nicolas Taleb in his 2007 book, The Black Swan: The Impact of the Highly Improbable, and then again in his 2012 book, Antifragile: Things That Gain from Disorder.

Portfolio 52

Portfolio Manufacturing Investments Investing 52

Trade Brains

SEPTEMBER 21, 2023

It reported a healthy Profit after Tax of Rs. Net Profit Margin 12.56% Operating Profit Margin 18.07% Wipro Limited is a leading technology service Company founded by Mr. Wipro provides a host of services such as consultancy, cybersecurity, Data Analytics, Business Processes, and Artificial intelligence. 225914 EPS 22.32

Budgeting 59

Budgeting Electronics Healthcare Consulting 59

Brown Advisory

MARCH 30, 2020

Liquidity in Public Markets: A Decade of Decline Equity trading volume has declined markedly since the financial crisis (top chart); meanwhile, dealer trading volume relative to the size of the corporate bond universe has fallen from 60% in 2007 to less than 10% today (bottom chart). investment-grade tax-exempt bond market.

Management 52

Management Marketing Marketing Clients 52

Brown Advisory

MARCH 30, 2020

Equity trading volume has declined markedly since the financial crisis (top chart); meanwhile, dealer trading volume relative to the size of the corporate bond universe has fallen from 60% in 2007 to less than 10% today (bottom chart). These dynamics have dramatically shifted the liquidity landscape across financial markets.

Management 52

Management Marketing Marketing Clients 52

Brown Advisory

JULY 1, 2016

If the long-term return on one’s investments is, say, 6% and inflation is 2%, then (ignoring taxes and expenses) a 4% annual draw would preserve the portfolio’s purchasing power for future generations. McKinsey points out that the after-tax profit margin of publicly traded North American companies increased from 5.6%

Investing 52

Investing Investments Portfolio Assets 52

Brown Advisory

JULY 1, 2016

If the long-term return on one’s investments is, say, 6% and inflation is 2%, then (ignoring taxes and expenses) a 4% annual draw would preserve the portfolio’s purchasing power for future generations. McKinsey points out that the after-tax profit margin of publicly traded North American companies increased from 5.6%

Investing 52

Investing Investments Portfolio Assets 52

The Big Picture

OCTOBER 31, 2023

And so our initial thrust was what our first hedge fund called Bay Pond, which is a financial services hedge fund, started by Nick Adams back in 1994, which will, I guess be celebrating its 30th anniversary next year. I’m I’m thinking about the tax consequences of what you just said.

Management 162

Management Investing Investments Portfolio 162

Brown Advisory

OCTOBER 18, 2019

CBOE S&P 500 Implied Correlation Index, 1/1/2007-8/30/2019 Source: Chicago Board Options Exchange (CBOE). Standard & Poor’s, S&P, and S&P 500 are registered trademarks of Standard & Poor’s Financial Services LLC (“S&P”), a subsidiary of S&P Global Inc. Active manager returns have generally improved against this backdrop.

Marketing 52

Marketing Marketing Valuation Numbers 52

Brown Advisory

OCTOBER 18, 2019

CBOE S&P 500 Implied Correlation Index, 1/1/2007-8/30/2019. Standard & Poor’s, S&P, and S&P 500 are registered trademarks of Standard & Poor’s Financial Services LLC (“S&P”), a subsidiary of S&P Global Inc. EV/EBITDA is the enterprise value (EV) divided by EBITDA (earnings before interest, taxes, depreciation and amortization).

Marketing 52

Marketing Marketing Valuation Numbers 52

The Big Picture

SEPTEMBER 5, 2023

And even before the pandemic, we had changes in laws like the mansion tax, the rent law changed so that conversions of existing buildings are almost impossible. RITHOLTZ: More than that, double, and it’s no bargain in terms of real estate taxes. Florida real estate taxes are like New York real estate taxes.

Sales 130

Sales Numbers Taxes Marketing 130

The Big Picture

AUGUST 15, 2023

SEIDES: John Yeah, I said back then, the bet started in 2007 and I say today, being in the market and investing in hedge funds is completely apples and oranges. So for a taxable investor, hedge funds generally aren’t tax efficient. This is the summer of 2007. RITHOLTZ: 2007. So back in 2007. SEIDES: Yeah.

Management 130

Management Investing Investments Government 130

The Big Picture

APRIL 11, 2023

RITHOLTZ: So that’s really interesting because what I wrote down was tax efficiency is one of the drivers. DAMODARAN: If I can throw this out to my class, and the first thing they come up with is it more tax-efficient to do buybacks than dividends? DAMODARAN: Capital gains then were taxed with 28 percent. DAMODARAN: Right.

Valuation 298

Valuation Education Government Numbers 298

Carson Wealth

SEPTEMBER 3, 2024

Yes, stocks hit new highs right before COVID and in early 2007, but the great majority of the other times over the past generation new highs have meant an economy that was growing, not an economy in a recession. Here’s something former President Trump first proposed, and then Vice President Harris copied: making tips tax-free.

Marketing 142

Marketing Marketing Taxes Economy 142