The Big Picture

MAY 9, 2023

And again, I ended up in the financial services audit practice at KPMG. One, when people have asked me to compare and contrast today versus 2007, 2008, what you hear from a lot of people is, yes, there’s some fairly heady valuations. You have to finish the three years. I finished the three years.

Assets 299

Assets Clients Investments Investing 299

Trade Brains

SEPTEMBER 21, 2023

Wipro provides a host of services such as consultancy, cybersecurity, Data Analytics, Business Processes, and Artificial intelligence. The Financial Services sector brings in ~35% of Wipro’s revenue, followed by the Consumer sector which consists of Electronics and other packaged goods. This brought in ~18% of FY23’s revenue.

Budgeting 59

Budgeting Electronics Healthcare Consulting 59

Brown Advisory

OCTOBER 18, 2019

We know that equity valuations in the U.S. CURRENT VALUATION PREMIUMS, S&P 500 INDEX Metric Most Recent Long-Term Average Premium vs. Average Timeframe Trailing P/E 19.4 CBOE S&P 500 Implied Correlation Index, 1/1/2007-8/30/2019 Source: Chicago Board Options Exchange (CBOE). 17% 3/31/1954- 9/30/2019 Price/Book Value 3.4

Marketing 52

Marketing Marketing Valuation Numbers 52

Brown Advisory

OCTOBER 18, 2019

We know that equity valuations in the U.S. CURRENT VALUATION PREMIUMS, S&P 500 INDEX. CBOE S&P 500 Implied Correlation Index, 1/1/2007-8/30/2019. In the current environment of elevated valuations and low interest rates, it may make sense to consider investment opportunities with low correlation to equities and fixed income.

Marketing 52

Marketing Marketing Valuation Numbers 52

Trade Brains

JULY 7, 2024

In June 2024, the NIFTY 50 allocated 34.11% of its weight to financial services, which includes banking, 12.06% to information technology, 12.52% to oil and gas, 8.03% to consumer goods, and 8.06% to the automotive sector. It is the world’s most actively traded contract. The Nifty50 was launched on April 22, 1996. as of July 3, 2024.

Marketing 52

Marketing Marketing Electronics Economy 52

Brown Advisory

JULY 1, 2016

One can argue that today’s low interest rates merit even higher valuations, but there’s no disputing that the increase in price/earnings ratios has been an important driver of stocks since the lows of the early 1980s. Following the 2007–2008 financial crisis, some observers began referring to the “new normal.”

Investments 52

Investments Investing Portfolio Assets 52

Brown Advisory

JULY 1, 2016

One can argue that today’s low interest rates merit even higher valuations, but there’s no disputing that the increase in price/earnings ratios has been an important driver of stocks since the lows of the early 1980s. Following the 2007–2008 financial crisis, some observers began referring to the “new normal.”

Investments 52

Investments Investing Portfolio Assets 52

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). An index constituent must also be considered a U.S.

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

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. Post money valuations until the market has changed dramatically. 00:09:40 [Speaker Changed] Correct.

Management 162

Management Investments Investing Portfolio 162

Brown Advisory

NOVEMBER 12, 2019

has maintained rates at historically low levels since the financial crisis of 2007-08, yet inflationary pressures remain at bay. 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. Low interest rates.

Investments 52

Investments Investing Assets Economics 52

Brown Advisory

NOVEMBER 12, 2019

has maintained rates at historically low levels since the financial crisis of 2007-08, yet inflationary pressures remain at bay. 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. Low interest rates.

Investments 52

Investments Investing Assets Economics 52

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. This is the summer of 2007. RITHOLTZ: 2007. So back in 2007. What’s the valuation? RITHOLTZ: You have to tell us, where did the idea come from?

Management 130

Management Investments Investing Government 130

The Big Picture

SEPTEMBER 5, 2023

And we’d sort of turn that into a valuation business. So before we get to the pandemic, which obviously had an enormous outsized effect on real estate, let’s talk a little bit about the financial crisis in the mid-2000s, a lot of real estate companies crashed and burned then. RITHOLTZ: Wow, that’s amazing.

Sales 130

Sales Numbers Marketing Marketing 130

The Big Picture

APRIL 18, 2023

In the short run, there can be distortions in public market valuations as we saw in 2001 and we saw prior to that in 2007, and prior to that in 2000, in ‘99. Valuations go up and you saw it, of course, in the late ‘90s, in the tech sector. You saw it in the financial services sector. BARATTA: Yeah. In the long run.

Assets 162

Assets Investments Investing Valuation 162

The Big Picture

APRIL 11, 2023

 The transcript from this week’s, MiB: Aswath Damodaran: Valuations, Narratives & Academia , is below. You’re known as the dean of valuation. He said, oh, dean of valuation, it’s easier to say. So let’s start with the question, what led you to focus on valuation? RITHOLTZ: Right. And I said, why?

Valuation 298

Valuation Education Numbers Government 298