The Big Picture

OCTOBER 7, 2022

If only the Fed didn’t do X, our portfolio would have been much better” seems to be a terrible approach to managing assets for clients. All too often, Fed criticism is thinly-veiled excuse-making for underperforming alpha chasers. “If During the same period of time, the S&P 500 rose 67.9% (2020) and 28.7% (2021).

Banking 336

Banking Economics Portfolio Assets 336

Abnormal Returns

SEPTEMBER 28, 2022

wsj.com) Don't fight the last war: this isn't 2008. morningstar.com) FTX FTX won the auction to buy the assets of bankrupt (coindesk.com) FTX.US (awealthofcommonsense.com) Markets Lumber prices are back down to pre-pandemic levels. theirrelevantinvestor.com) Are stocks cheap yet? It depends. Brett Harrison is stepping down.

Financial Advising 246

Financial Advising Media Management Economy 246

Walkner Condon Financial Advisors

MARCH 16, 2023

When this run started, Silicon Valley Bank (and the two other banks that failed), put into play plans to raise capital beyond selling these assets. They try to find a buyer over the weekend and barring that they sell off the individual assets. Think of this as Mary Bailey reaching into her purse and pulling out the wedding gift money.

Banking 98

Banking Insurance Assets Startup 98

The Big Picture

FEBRUARY 27, 2023

Trillion Drop, Biggest Since 2008 : San Francisco and New York are slumping as the pandemic boom fizzles out, but migration to Florida has boosted Miami. The firm is the largest listed PE/Buyout firm in Europe, managing $135 billion in assets in Private equity, infrastructure, real estate and debt.

Valuation 290

Valuation Assets Management Marketing 290

Abnormal Returns

SEPTEMBER 1, 2022

bonddad.blogspot.com) Why the current housing market is nothing like 2008. (ft.com) Barcelona FC is under real financial pressure. readthegeneralist.com) Economy Jobless claims have stopped going up. pragcap.com) Housing are still selling quickly. housingwire.com) Earlier on Abnormal Returns Longform links: the wrong model.

Assets 130

Assets Financial Advising Media Economy 130

Wealth Management

MARCH 27, 2023

SVB Private Wealth, with about $16 billion in assets, is part of the First Citizens' "whole bank purchase" of Silicon Valley Bank.

Banking 115

Banking Assets 115

The Big Picture

SEPTEMBER 26, 2022

The only other years with a higher reading since 1990 were 2008 when the S&P fell 38%, and 2002, when it fell 23%. Pensions Brace for Private-Equity Losses : Retirement officials predict grim results from investments in private equity and other illiquid assets ( Wall Street Journal ). • Wealth of Common Sense ). •

Engineering 306

Engineering Economy Manufacturing Retirement 306

The Big Picture

AUGUST 15, 2022

Let’s look at the 2008 scenario as an example. The asset class has exploded in popularity over the past two decades — but that doesn’t mean it’s about to blow up, argues our columnist. ( Institutional Investor ). • My back-to-work morning train WFH reads: • When is a Bear Market Over? Economic Innovation Group ). •

Communication 298

Communication Startup Management Economics 298

The Big Picture

DECEMBER 12, 2022

Has private equity avoided the asset-price crash? Survival Lessons From Past Tech Downturns : The current tech downturn could be much worse than it appears now, say those who lived through the 2001 and 2008 crashes—but those who make it have the chance to fuel the next bubble. New York Times ). • Economist ). Wall Street Journal ). •

Math 306

Math Economy Communication Economics 306

The Big Picture

NOVEMBER 5, 2022

However, as with other intangible assets, political capital tends to be overlooked by the market. In 2008, he received the George Polk Award for financial reporting. . • Investing in Influence : Companies invest billions of dollars in political influence through lobbying, campaign contributions, and other means. Sparkline Capital ).

Accounting 278

Accounting Economics Assets Investing 278

The Big Picture

JULY 27, 2022

The post- 2008-09 era saw wealth inequality, already substantial in the United States, explode. The 2010s monetary rescue plan benefitted anybody who owned capital assets: Stocks, Bonds, and Real Estate. I wrote a book about this). But the pandemic was a massive reset, with a huge fiscal stimulus rather than just a monetary one.

Medicine 331

Medicine Numbers Food Insurance 331

The Big Picture

FEBRUARY 24, 2023

The firm is the largest listed PE/Buyout firm in Europe, managing $135 billion in assets in Private equity, infrastructure, real estate and debt. Trillion Drop, Biggest Since 2008 Source: Bloomberg Sign up for our reads-only mailing list here. It’s also got a whole lot of American fans. ( US Housing Market Posts $2.3

Medical 289

Medical License Insurance Accounting 289

The Big Picture

AUGUST 27, 2022

He explains what the Vanguard effect is — notably, the cost-conscious approach jack Bogle pioneered has had a massive impact on the business of managing assets. The Vanguard Group has continually driven costs lower for investors, forcing the rest of the asset management industry to follow suit.

Assets 217

Assets Management Clients Marketing 217

The Big Picture

DECEMBER 8, 2022

It’s a rarity for the two main asset classes, almost always negatively correlated, to perform a duet. New York Times ). • So When Will Stocks and Bonds Un-Link? Here’s what allocators can do about that. ( What’s Going On With the Housing Market?

Transportation 278

Transportation Retail Portfolio Assets 278

The Big Picture

MAY 9, 2023

He is the Chief Investment Officer of Asset and Wealth Management at Goldman Sachs. He co-chairs a number of the asset management investment committees. trillion in assets under supervision. JULIAN SALISBURY, CHIEF INVESTMENT OFFICER OF ASSET AND WEALTH MANAGEMENT, GOLDMAN SACHS: Thanks, Barry. And I think you will also.

Assets 299

Assets Clients Investments Investing 299

The Big Picture

SEPTEMBER 19, 2023

The transcript from this week’s, MiB: Elizabeth Burton, Goldman Sachs Asset Management , is below. Elizabeth Burton is Goldman Sachs asset management’s client investment strategist. It depends on your asset allocation. And they took it out of their asset allocation in favor of other strategies.

Assets 147

Assets Management Investing Investments 147

The Big Picture

APRIL 29, 2023

Clymer, who’s been dubbed “ The High Priest of Horology ,” founded the site in 2008 and is currently executive chairman; Fowler was appointed Hodinkee’s chief executive officer in 2022. Hodinkee’s ambition is to become the global leader in watches, content, and commerce.

Advertising 173

Advertising Wealth Management Assets Accounting 173

The Big Picture

MARCH 14, 2023

Irrelevant Investor ) • How the Weekend-Long Freakout Over Silicon Valley Bank Ended : And why the worst bank failure since 2008 happened in the first place. Yale University’s endowment has earned spectacular returns in hedge funds, private equity and other ”alternative assets.” Bloomberg ) • Yale Invests This Way. Should You?

Banking 258

Banking Assets Media Investing 258

The Chicago Financial Planner

JUNE 13, 2022

Ideally you’ve been rebalancing your portfolio along the way and your asset allocation is largely in line with your plan and your risk tolerance. For example during the 2008-2009 market debacle I looked at funds to see how they did in both the down market of 2008 and the up market of 2009.

Risk Tolerance 188

Risk Tolerance Marketing Marketing Financial Planner 188

The Big Picture

DECEMBER 13, 2023

Not that different from the tulip mania (see the picture below), the dot-com boom, or the house flippers and mortgage boom of 2006-2008 (see the Big Short for similar stories of excess). The madness of crowds is fascinating, fun, and good for a morality tale but it doesn’t really tell us much about the underling asset.

Numbers 317

Numbers Government Assets Management 317

The Big Picture

FEBRUARY 11, 2023

trillion in assets. He left early 2008 to launch his own hedge fund and missed the last phase of Lehman’s existence. This week, we speak with Rick Rieder , who is BlackRock ‘s chief investment officer of global fixed income, head of the fundamental fixed income business, and head of the global allocation investment team.

Communication 189

Communication Banking Investments Investing 189

Nerd's Eye View

JANUARY 3, 2024

The good news is that while there's little doubt that the economy is indeed slowing, there don't seem to be any "black swans" lurking around the corner, as was the case for 2008's severe recession. This can involve reducing exposure to high-risk equities and longer-term bonds while moving towards shorter-term, lower-risk debt.

Economics 246

Economics Marketing Marketing Economy 246

Nerd's Eye View

AUGUST 8, 2023

Lori is the CEO of LVW Advisors, an independent RIA based in Pittsford, New York, that oversees more than $2 billion in assets under management for over 450 small-to-mid-sized institutions and ultra-high-net-worth families. Welcome back to the 345th episode of the Financial Advisor Success Podcast !

Investing 246

Investing Investments Financial Advisor Compensation Planning 246

The Big Picture

NOVEMBER 11, 2023

 This week, we speak with Linda Gibson , who is CEO of PGIM ‘s Quantitative Solutions , a pioneer in quant investing managing $119 billion in assets. PGIM is one of the world’s largest asset managers, running $1.27 trillion in client assets. The tech-focused fund started in 2008 and invests in both public and private firms.

Startup 162

Startup Assets Management Banking 162

Nerd's Eye View

AUGUST 22, 2023

Cary is the Senior Vice President & Director of Women and Wealth Services for Advisor Capital Management, an independent RIA with offices around the country and headquartered in Charlotte, North Carolina, that oversees more than $6 billion in assets under management for 1,700 client families.

Financial Advisor 245

Financial Advisor Media Sales Clients 245

The Big Picture

SEPTEMBER 23, 2023

This week, we speak with Armen Panossian , managing director and head of performing credit at Oaktree Capital Management , which has $179 billion in assets under management. It was a huge price decline where syndicators got stuck, very reminiscent of the 2008-09 era for banks.

Management 182

Management Medical Portfolio Management Economics 182

The Big Picture

DECEMBER 16, 2022

Consider : In the 2010s, the Fed remained on emergency footing from 2008, when they took rates to 0 (zero) until December 2015 (this created lots of distortions). The Wealth Effect : Jay Powell seems to be targeting assets prices, despite equities not being part of the dual mandate. The result is Fed is always late to the party.

Economics 312

Economics Banking Marketing Marketing 312

Calculated Risk

SEPTEMBER 12, 2024

This includes real estate and financial assets (stocks, bonds, pension reserves, deposits, etc.) Household percent equity (as measured by the Fed) collapsed when house prices fell sharply in 2007 and 2008. The third graph shows household real estate assets and mortgage debt as a percent of GDP. in Q1, 2024. in Q1, 2024.

Nonprofit 133

Nonprofit Assets Accounting 133

Calculated Risk

SEPTEMBER 9, 2022

This includes real estate and financial assets (stocks, bonds, pension reserves, deposits, etc) net of liabilities (mostly mortgages). Household percent equity (as measured by the Fed) collapsed when house prices fell sharply in 2007 and 2008. The third graph shows household real estate assets and mortgage debt as a percent of GDP.

Nonprofit 145

Nonprofit Assets Accounting 145

Calculated Risk

DECEMBER 9, 2022

This includes real estate and financial assets (stocks, bonds, pension reserves, deposits, etc) net of liabilities (mostly mortgages). Household percent equity (as measured by the Fed) collapsed when house prices fell sharply in 2007 and 2008. The third graph shows household real estate assets and mortgage debt as a percent of GDP.

Nonprofit 144

Nonprofit Assets Accounting 144

The Big Picture

NOVEMBER 21, 2023

The tech-focused fund started in 2008 and invests in both public and private firms. After returning $7B in profits to its LPs, Altimeter manages currently manages $10B in assets. New York Times ) Be sure to check out our Masters in Business this week with Brad Gerstner , founder and CEO of Altimeter Capital.

Startup 246

Startup Commission Media Government 246

Abnormal Returns

SEPTEMBER 22, 2022

(morningstar.com) Breaking down which assets are still ripe for active management. citywireusa.com) Women are still not making much headway in the asset management business. axios.com) Mortgage rates are at their highest level since October 2008. finance.yahoo.com) Economy Auto loan delinquencies are on the rise.

Financial Advising 130

Financial Advising Media Valuation Assets 130

The Big Picture

APRIL 4, 2024

Jim Bianco : Coming out of the financial crisis in 2008. The Fed was worried that the psyche of investors was to stay away from Riskier assets like home prices or equities. One of the reasons that the Fed wanted to put rates at zero and push all that money in the risk markets was the psyche coming out of 2008 was people were afraid.

Portfolio 162

Portfolio Management Assets Economy 162

Good Financial Cents

AUGUST 14, 2023

From its humble beginnings in 2008 to today, Bitcoin’s history has been relatively short but very eventful. The original protocol for this popular digital currency was created in 2008 by Satoshi Nakamoto , believed to be a pseudonym for an unknown developer or group of developers. How Does Bitcoin Compare to Other Asset Classes?

Assets 119

Assets Investing Investments Numbers 119

Calculated Risk

SEPTEMBER 8, 2023

This includes real estate and financial assets (stocks, bonds, pension reserves, deposits, etc) net of liabilities (mostly mortgages). Household percent equity (as measured by the Fed) collapsed when house prices fell sharply in 2007 and 2008. The third graph shows household real estate assets and mortgage debt as a percent of GDP.

Nonprofit 125

Nonprofit Assets Accounting 125

Nerd's Eye View

APRIL 11, 2023

Thomas is a Senior Partner for Signature Estate & Investment Advisors, an independent RIA based in Los Angeles, California, that oversees nearly $16 billion in assets under management, with $570 million of those assets being managed by Thomas' practice that serves more than 250 client households.

Medical 130

Medical Financial Advisor Financial Planning Clients 130

Abnormal Returns

MARCH 16, 2023

Markets Bonds are once again a risk-off asset. axios.com) Finance Why 2023 is not a replay of 2008-09. thereformedbroker.com) Markets are betting the Fed is closer to a pause. econbrowser.com) Oil prices are below where they were before the Ukraine war. axios.com) Strategy Risk is what you don't see coming.

Government 130

Government Media Financial Advising Banking 130