The Irrelevant Investor

SEPTEMBER 19, 2015

Alpha Architect on the myth that economic growth drives stock returns We're going to let you in on a little secret: Investors focused on economic growth are wasting their time.If may be that the best prices can be had in times of low economic growth, whereas we tend to overpay in a growing economy.

Financial Advisor 52

Financial Advisor Economics Asset Allocation Portfolio 52

The Irrelevant Investor

JULY 19, 2016

On the economic side there is no denying that the more financial predictions you make the more business you do and the more commissions you get. I first met Wes Gray, CEO/CIO of Alpha Architect in late 2014 and remember thinking, holy s**t, this guy rules. He taught me that asset allocation matters. Fred Schwed Jr.,

Investments 52

Investments Investing Asset Allocation Assets 52

Brown Advisory

SEPTEMBER 3, 2015

War and financial turmoil— the bane of Europe’s economic well-being last century—are currently veiling a rebound in regional growth and unanticipated vigor among European companies. in 2014, according to the International Monetary Fund (IMF). Economic recoveries usually feature a surge in consumption as employment and wages rebound.

Economy 40

Economy Economics Asset Allocation Banking 40

Brown Advisory

SEPTEMBER 3, 2015

million in 2006, inhibiting demand and economic growth, according to the Krueger report. Public-sector debt has expanded every year since 2000, hitting 100% of gross national product at the end of fiscal year 2014. Economic recoveries usually feature a surge in consumption as employment and wages rebound. million from about 3.8

Transportation 52

Transportation Government Economy Asset Allocation 52

The Big Picture

JANUARY 21, 2025

And after I got my last urine bonus in early 2014, I walked in and handed, handed my notice. And I think it partly depends on the economic comfort in which you grew up. I was in my, I was 51, so I spent 10 or 11 months preparing to leave. I contacted the journal about writing for them again, I also started working on a book.

Investing 147

Investing Investments Management Retirement 147

Brown Advisory

JULY 1, 2016

Changes in their assumed rate of return can impact decisions ranging from asset allocation to the spending level that a portfolio can rationally support. over the last 100 years (1915–2014), but interestingly, they increased to 7.9% Thus, it’s important to have a view on this key question. over the more recent 30-year period.

Investments 52

Investments Investing Portfolio Assets 52

Brown Advisory

JULY 1, 2016

Changes in their assumed rate of return can impact decisions ranging from asset allocation to the spending level that a portfolio can rationally support. over the last 100 years (1915–2014), but interestingly, they increased to 7.9% Thus, it’s important to have a view on this key question. over the more recent 30-year period.

Investments 52

Investments Investing Portfolio Assets 52

Dear Mr. Market

FEBRUARY 24, 2022

Click here if you need to catch up on a conflict that’s been in flux since February of 2014. We often talk about people having short memories but don’t think that the Ukraine and Russia conflict just started last week. The point of our “letter to Mr. Market” today, however, is on what to do with your investments.

Marketing 52

Marketing Marketing Asset Allocation Investments 52

Brown Advisory

SEPTEMBER 22, 2017

While these efforts are valuable – they may eventually lead to well-defined ESG factors that resonate with economic principles – it is easy to forget that they cannot prove whether "ESG investing" can be a source of market-independent returns, or alpha. Resource and Energy Economics 41:103-121. Journal of Financial Economics.

Portfolio 52

Portfolio Investments Investing Management 52

Brown Advisory

SEPTEMBER 22, 2017

While these efforts are valuable – they may eventually lead to well-defined ESG factors that resonate with economic principles – it is easy to forget that they cannot prove whether "ESG investing" can be a source of market-independent returns, or alpha. Resource and Energy Economics 41:103-121. Journal of Financial Economics.

Portfolio 52

Portfolio Investments Investing Management 52

Brown Advisory

APRIL 1, 2015

Although we expressed some worry about the long-term effects of mounting deficits, we concluded that stocks and other assets were not in bubble territory and represented good value despite what we saw as a weak economic recovery. It’s remarkable how far the markets have come in the five years since then. Then and Now.

Investments 52

Investments Investing Valuation Assets 52

Dear Mr. Market

MARCH 17, 2024

We still like Energy this year and that is especially so with it being one of the most beaten down economic sectors from 2023. We’ve been pounding the table for holding Gold for several years now starting with our first nibble at it in 2014. 5 seed Targa Resources ( TRGP ) knocks out #11 Charter Communications ( CHTR ).

Investments 83

Investments Investing Portfolio Assets 83

Brown Advisory

JUNE 21, 2017

Investment Perspectives - The Great Debate achen Wed, 06/21/2017 - 12:35 Aside from some current political and economic topics that dominate the financial media, the most widely debated investment issue today involves the merits of passive investing, or indexing. In short, every situation is different.

Investments 52

Investments Investing Portfolio Management 52

Brown Advisory

JUNE 21, 2017

Aside from some current political and economic topics that dominate the financial media, the most widely debated investment issue today involves the merits of passive investing, or indexing. Investment Perspectives - The Great Debate. Wed, 06/21/2017 - 12:35. In short, every situation is different. 1 [link] AssetFlows/AssetFlowsJan2017.pdf

Investments 52

Investments Investing Portfolio Management 52

The Big Picture

APRIL 4, 2023

And so, you know, I went to David and Bill in 2014, and we had kind of served out our three-year term there. But they also owned an asset management platform, so they had institutional distribution and the ability to raise capital from third parties globally. You raised another $11 billion in capital, despite the economic environment.

Banking 147

Banking Management Investing Investments 147

The Big Picture

JUNE 3, 2024

And that was his boss, Jeffrey Gundlock, founder of Double Line Capital, back in July, 2014. The very first Masters in Business that was broadcast just about 10 years ago, July, 2014, episode number one, Jeffrey Gundlock, DoubleLine Capital. And so I worked a lot on the asset allocation side. They got here a little late.

Math 147

Math Marketing Marketing Engineering 147

The Big Picture

OCTOBER 6, 2024

Behavioral economics provides insight into both surveys and modern polling errors). Highly dependent on precise phrasing of questions That’s just about basic market, economic, and asset allocation questions. The reason is that Sentiment measures suffer from problems similar to political polling. Backwards looking 2.

Media 362

Media Asset Allocation Numbers Economics 362

The Big Picture

JANUARY 31, 2023

Neil Dutta has been doing economic analysis and research from a market-based perspective for over 20 years. I found this to be just an absolutely fascinating discussion about how to best contextualize the world of economic data around you, in a way that’s useful for you as an investor. With no further ado, RenMac’s Neil Dutta.

Economics 147

Economics Economy Marketing Marketing 147