The Better Letter

MAY 13, 2022

For math, she teaches the advanced class — the top students in the school. The class had a party recently as a reward for winning a national math competition. – to stay in and play math games at the party instead of more traditionally “fun” activities, inside or out. It is a very bright group.

Math 52

Math Economics Financial Advisor Marketing 52

The Big Picture

SEPTEMBER 10, 2024

In doing so, I thought this conversation was really quite fascinating, and I think you will also, especially if you’re not only interested in equity, but curious as to how to combine various aspects of market functions, valuation, economic cycle, fed actions into one coherent strategy. But generally starts with the economic cycle.

Valuation 162

Valuation Clients Investing Investments 162

Investing Caffeine

FEBRUARY 1, 2022

T he stock market has been like a rocket ship over the last three years 2019/2020/2021, advancing +90% as measured by the S&P 500 index, and +136% for the NASDAQ. Math Matters. I did okay in school and was educated on many different topics, including the basic principle that math matters. Source: Calafia Beach Pundit.

Math 52

Math Assets Investments Investing 52

The Big Picture

SEPTEMBER 12, 2022

And so, coming out of school, I studied Economics and Spanish Literature, and I applied to a — a program that actually targeted Liberal Arts majors. I — I loved math, but really, I was going to go down that literature route more than anything else and — and study Spanish literature. It was at Bank One, at the time.

Clients 299

Clients Wealth Management Banking Investing 299

Validea

JUNE 14, 2023

A Glimpse into the Past: The Historical Giants In order to understand the potential growth trajectory to a $10 trillion company, we must first examine the economic giants of the past. The Math Behind the Growth Let’s take a step back and think about what it would take for a company like Apple to reach a $10 trillion market cap.

Math 52

Math Accounting Investing Investments 52

The Big Picture

SEPTEMBER 19, 2023

One, one is true and I’ve always said is that I wanted people to stop, ask if I could doing math. And no one asked me if I can do math anymore with a degree from Booth, particularly in econometrics and statistics. So people really ask you, you take French and can you do math. Two reasons. What, why do we think that is?

Assets 147

Assets Management Investing Investments 147

The Big Picture

OCTOBER 17, 2023

A degree in mathematics from Oxford, a doctorate in mathematical epidemiology and economics from Cambridge. So I, I did a math degree at Oxford, which is more pure math. You know, pure math can be very theoretical and detached from the real world, and it’s getting worse. What is that? The second is excess returns.

Investing 130

Investing Investments Clients Numbers 130

Brown Advisory

NOVEMBER 13, 2023

The New Normal It is difficult for investors and individuals alike not to have been directly impacted by the rapid rise in inflation in 2021 and 2022, the succeeding interest rate hikes by global central banks and the ensuing effects these economic events have had on financial markets, including the mortgage market.

Investments 52

Investments Investing Portfolio Clients 52

The Big Picture

AUGUST 20, 2024

00:03:14 [Mike Greene] So that was actually an outgrowth from my experience coming out of Wharton and you mentioned the, the, you know, the transition of people who tended to be skilled at math or physics into finance. Things like leading economic indicators, et cetera, are all consistent with historical recessions.

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Assets Management Portfolio Taxes 173

The Big Picture

AUGUST 29, 2023

So a variety of risk meetings, a variety of economic meetings. But if you go back to the period before 2022, from 2019 to 2021, a 60/40 portfolio actually produced 14% returns over that time horizon, which is above the long-term average. It’s also being part of the senior team that runs Vanguard, the business of Vanguard, right?

Portfolio 130

Portfolio Investing Investments Numbers 130

The Big Picture

JULY 4, 2023

.” It’s really helpful to have had five other meetings with people who sit at analogous funds that had losses that were just as big, and in fact, they may have contributed to those losses more and be able to tell him, first off, your fund, just by my math, has a $250 million management fee. RITHOLTZ: Right.

Management 147

Management Recruitment Numbers Banking 147

Discipline Funds

MARCH 6, 2024

Despite this, there are still some circles of the economic world that claim Monetary Policy has no impact or stranger yet, some say higher rates actually push inflation UP. The only people who say interest rates have had no material impact on economic growth are Americans. Rates have a disproportionate impact on consumption.

Banking 119

Banking Government Economy Assets 119

Mish Talk

NOVEMBER 19, 2022

After a stint in Hong Kong, Mr. Bankman-Fried and FTX made their home in the Bahamas, moving in 2021 to take advantage of the island country’s crypto-friendly regulatory regime. Before it collapsed, Alameda had marked the value of its FTT at $5.5 billion, according to the document. Mish Comment: Now it's about $8 billion in the hole.]

License 227

License Assets Accounting Math 227

The Big Picture

AUGUST 15, 2023

SEIDES: Yeah, I wouldn’t measure it in terms of economic returns. RITHOLTZ: So hold the duration risk aside with those two, but just for an investor in treasuries, I know you’ve done the math before. So, it cost the firm $320,000, well worth every penny? How would you have done?

Management 130

Management Investing Investments Government 130

The Big Picture

JUNE 27, 2023

We’re going to wait, we’re going to see, and we want to be supportive of the markets and the economic system. I mean, obviously, 2020 and 2021 and 2022, we’re still in the midst of, but is there still an echo of ’08-’09 today? And so it’s one of these things that math works. RITHOLTZ: Right.

Math 147

Math Risk Management Marketing Marketing 147

Mish Talk

NOVEMBER 27, 2022

Spotlight 2020 and 2021 For 2020, the reported deficit was $3.132 trillion but debt rose by $4.546 trillion. For comparison purposes, in 2021 debt did not rise as much as the deficit. Debt Through Calendar Year 2021. Those numbers are through 2021. 2022 Math The 2021 year end debt was $29.621 trillion.

Budgeting 200

Budgeting Math Economics Accounting 200

The Big Picture

JULY 19, 2022

And when I was studying in university economics, I did not really get the passion. You wrote this book in 2021 or at least finished it in 2021 and you described in the book what you see as an, quote, “investment winter ahead.” My really first stroke of luck, I think, was getting that job. RITHOLTZ: Right.

Investing 130

Investing Investments Valuation Portfolio 130

The Big Picture

MARCH 21, 2023

My mom was a math teacher so — RITHOLTZ: Okay. It’s probably the most important part of what we do in the macro side, with economic trends, not just price trends, being a relatively recent innovation and super important. RITHOLTZ: — of the bubble claim and say, hey, stocks got overvalued in 2021. ASNESS: Yeah.

Valuation 173

Valuation Investing Investments Numbers 173

The Big Picture

MARCH 12, 2024

So in this, in this context of, of a mortgage now being clear to everyone that this default risk is present, it’s real, and it’s hard to price because following the borrower’s economic profile, there, there are defaults that are related to just life events, but there’s also defaults related to a macroeconomic event.

Banking 147

Banking Investing Investments Marketing 147

The Big Picture

APRIL 8, 2024

The transcript from this week’s, MiB: Ed Hyman on Using Economic Data Opportunistically , is below. So you have all of this very pragmatic experience as opposed to getting a PhD in economics, which tends to be a little more abstract and academic. I’d been ranked i i back in the seventies, if you can do the math.

Economy 147

Economy Clients Banking Economics 147

The Big Picture

MAY 21, 2024

I’m kind of in intrigued by the idea of philosophy and math. So I found myself getting kind of bored with my math problem sets, and then I could shift to philosophy and then go back and forth. By the end of 2021, our sell side indicator was at the most bullish levels we’d seen since Oh really?

Numbers 147

Numbers Management Banking Marketing 147

The Big Picture

JULY 31, 2023

The economic dislocation, the health risks, just the mayhem that took place, but from the perspective of a number of corporate CEOs, Bill Ackman of Pershing Square Capital, the hedge fund that had a couple of amazing trades based on this. HOFFMAN: So obviously, I’ve — you know, economically minded from the jump.

Retail 130

Retail Government Economy Economics 130

The Better Letter

JANUARY 11, 2024

That’s why the markets are much more of a mind game than a math game. And that’s why markets will always be exceedingly hard, even when the math seems easy or the future seems certain. These experts made a living “analyzing” and pontificating on political and economic developments. And lots of surprises.

Economy 96

Economy Economics Math Banking 96

The Big Picture

JUNE 20, 2023

MORGENSON: And by 2021, they were extracting 70 billion in dividend recapitalizations. And it really became very evident in a 2021 study by academics, I think University of Chicago, UPenn, NYU, that studied long-term mortality at nursing homes that were owned by private equity and compared that with nursing homes. RITHOLTZ: Wow.

Insurance 147

Insurance Healthcare Retail Medicine 147

The Big Picture

NOVEMBER 21, 2023

So here’s the math, Barry. If you have seven $50 incremental year, then every 10 year old in America, when they enter into the fifth or sixth grade and the teacher says, Hey, today we’re gonna talk about math or compounding or stocks or capitalism, they’ll say, open up. 00:44:49 [Speaker Changed] Correct?

Investing 246

Investing Investments Startup Accounting 246

The Big Picture

MAY 2, 2023

RITHOLTZ: So wait, you’re, I’m trying to do the math, if you were 24 in ‘08, so you got this watch in 2000, 99? A little secret, we don’t always say this, but something that we love to brag about is, it wasn’t until 2021 that Hodinkee spent its first dollar on marketing. CLYMER: Yes, around there, I would say.

Retail 173

Retail Insurance Advertising Numbers 173

The Big Picture

OCTOBER 31, 2022

I actually left active professor in July of 2021, after 45 years of teaching at Wharton. And it’s been virtually impossible for any value strategy to have overcome the great bull market of the big tech companies of the last 15 years which probably ended in, you know, early ‘20 or late 2021 or ’20, early ’21. RITHOLTZ: Yup.

Numbers 147

Numbers Investing Investments Marketing 147

Discipline Funds

MARCH 29, 2024

This was the lowest rate of inflation we’ve seen since March of 2021 right before the big spike. Not that it matters a huge amount though because the difference between getting two or three cuts this year isn’t going to cause some seismic economic shift… 2) Why cut now? Core PCE came in at 2.78% on Friday.

Math 102

Math Economics Economy Marketing 102

The Big Picture

AUGUST 23, 2022

in Economics from Chicago and MBA from Stanford. So, I did the math, 20 million times a hundred. So, let me just repeat the math. And so, again, I went through this simple math. Even if you read both of Browder’s books, you will find something to be amazed at. With no further ado, my conversation with Bill Browder.

Government 321

Government Banking Numbers Investing 321

Mish Talk

NOVEMBER 10, 2022

It's a moving target, negating any percentage math. Nothing is decided yet, but the math is very challenging for the Republicans in both states. Trump Flopped in 2018, 2020, 2021 and 2022 How much more of this can Republicans take? I'm here to tell you what I think. I've changed my mind. A similar setup exists in Arizona.

Math 166

Math Numbers Media Economics 166

The Big Picture

NOVEMBER 12, 2024

Barry Ritholtz : This week on the podcast, another extra special guest, Peter Goodman, is the award-winning investigative reporter and economics correspondent for the New York Times, his latest book, how the World Ran Out Of Everything Inside The Global Supply Chain. And I was ostensibly the economic writer.

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Manufacturing Consulting Economics Engineering 261