The Big Picture

DECEMBER 19, 2023

It’s always interesting to speak to a fund manager in the midst of one of the craziest macro periods of the markets that we’ve seen and God knows how long, who doesn’t factor in macro events or the overall market because they’re market neutral and hedged. What do you do in terms of risk management?

Healthcare 162

Healthcare Portfolio Management Investing 162

Validea

JANUARY 4, 2023

After a tough decade for simple systematic value strategies from 2011-2021 this model bounced back very well in 2022. Throughout 2022 the most expensive stocks were the ones hit hardest as valuations started to normalize in a new world of higher interest rates. The model portfolio was up 17.2% in 2022 vs. a 19.4%

Portfolio 52

Portfolio Risk Management Assets Asset Allocation 52

Brown Advisory

JUNE 16, 2021

The strong price appreciation has resulted in a commensurate rise in valuations and a tsunami of new deal issuance in these areas. Exhibit 5: Dispersion in stock returns for the Russell 2000 ® Index, three-year trailing return for top and bottom quartile, by year since 2011, and average and median 1991–2020 Source: Furey Research Partners.

Valuation 52

Valuation Investing Investments Government 52

Brown Advisory

JUNE 16, 2021

The strong price appreciation has resulted in a commensurate rise in valuations and a tsunami of new deal issuance in these areas. Exhibit 5: Dispersion in stock returns for the Russell 2000 ® Index, three-year trailing return for top and bottom quartile, by year since 2011, and average and median 1991–2020. Source: FactSet.

Valuation 52

Valuation Investing Investments Government 52

The Big Picture

AUGUST 15, 2023

So I think that argument is very valid in those couple of years, 2009, 2010 probably, maybe 2011, which was a tough year for hedge funds. What’s the valuation? Last question on ESG, certain folks have been saying, “Hey, you know, it works as a pretty good risk management filter. RITHOLTZ: Right.

Management 130

Management Investing Investments Government 130

The Better Letter

JANUARY 26, 2024

2010 : “Investors dangerously underestimate the risk of an abrupt and possibly severe equity market plunge.” 2011 : “[T]he expected return/risk profile of the stock market has shifted to hard-negative.” 2020 : “[E]xtreme valuations. Not surprisingly, outflows began in earnest in 2011.

Assets 105

Assets Valuation Management Marketing 105

The Big Picture

JULY 19, 2022

Really, what I would think is getting to my natural home and that happened in 2011. ! So, the Portfolio Solutions Group advises mainly institutional clients on all kinds of challenges that they have and thinking about the expected returns, portfolio construction, risk management, et cetera. What is that role like? Explain that.

Investing 130

Investing Investments Valuation Portfolio 130