The Big Picture

MARCH 31, 2023

Bloomberg ) • Elusive ‘Einstein’ Solves a Longstanding Math Problem : And it all began with a hobbyist “messing about and experimenting with shapes.” ( New York Times ) Be sure to check out our Masters in Business interview this weekend with Ken Kencel , founder and CEO of Churchill Asset Management. trillion asset manager of TIAA.

Banking 162

Banking Math Distribution Investment Advisor 162

Random Roger's Retirement Planning

NOVEMBER 6, 2023

The fund owns a lot of puts and should go up a lot in the face of a crash but not necessarily a slow protracted decline like there was in 2022. According to Portfoliovisualizer, CYA dropped 46.10% in 2022. The fund in question is the Simplify Tail Risk Strategy ETF (CYA). Here's what caught my eye that it might have blown up.

Math 105

Math Education Management Accounting 105

Random Roger's Retirement Planning

MARCH 18, 2025

And checking in on the GraniteShares YieldBoost SPY ETF (YSPY) that sells put spreads on a levered S&P 500 ETF; Yes, that is a rough start, clearly, but interestingly the math checks out. Then it made it back in 2022 when it was only down 1.1%. YSPY sells put spreads on a 3x fund.

Marketing 52

Marketing Marketing Math Portfolio 52

Random Roger's Retirement Planning

FEBRUARY 23, 2025

The "endowment" result is very close to red line VBAIX every year except 2020 when it lagged by almost 600 basis point and 2022 when it outperformed by about 500 basis points. The portfolio did just fine, it captured most of the upside and avoided the full brunt in 2022's large decline.

Math 52

Math Portfolio Taxes Marketing 52

Random Roger's Retirement Planning

JUNE 11, 2024

It is of course not dead but bonds became a far less effective diversifier years ago, long before 2022 when interest rates started going up. The risk was there for years, 2022 when when there was a consequence to investors who took that risk. I would say that is a very big bet but the math in their backtest supports it.

Math 98

Math Portfolio Management Taxes 98

Diamond Consultants

OCTOBER 10, 2023

Advisors continue to break away from captive environments for independence, with some 6,873 making the leap in 2022 according to the Diamond Consultants Advisor Transition Report. Advisors breaking away for independence know what they are giving up, so how can they justify making this leap? The answer starts and ends with growth.

Math 52

Math Recruitment Consulting Clients 52

Random Roger's Retirement Planning

JUNE 10, 2024

We've talked just a couple of times about the market becoming increasingly concentrated which just in terms of math means that a diversified strategy will lag for as long as the big names do well. Despite outperforming for 15 years, PSLDX was down 43% in 2022 which speaks to what diversification is about. In 2022 they didn't work.

Retirement 98

Retirement Asset Allocation Math Marketing 98

Random Roger's Retirement Planning

JUNE 22, 2023

And then just a little math, the "guarantee" based on the 50/50 allocation would be 2.5% Down less clearly worked in 2022 and YTD HEQT is lagging the S&P 500 by 400 basis points. Keep it to something broad like a total market fund or a market cap weighted large cap index.

Math 74

Math Portfolio Investing Investments 74

Brown Advisory

JUNE 16, 2022

Global Leaders Investment Letter: June 2022 mhannan Thu, 06/16/2022 - 11:30 Just want the PDF? We discount each year at our 10% minimum weighted average cost of capital (WACC) and some infinite series maths gives us the basis for some rough approximations 2.

Investing 52

Investing Investments Accounting Valuation 52

Integrity Financial Planning

JANUARY 23, 2023

In fact, as of September 2022, over 70 million Americans were collecting benefits. [1] 3] So, it’s easy math: the less you work, the less you’ll earn. For most, Social Security provides a solid foundation for retirement income. 1] However, not everyone knows exactly how or when to start tapping into this resource.

Retirement 89

Retirement Math Retirement Planning Planning 89

Sara Grillo

JUNE 24, 2024

The math behind Universal Life Insurance Interest Rates is a twisted web and most consumers are deceived. Know how the math works so you can see the potential risks that may exist with your policy. Money market rates crashed to zero (0%) in 2022 due to Covid-19. Don’t be fooled! That is a mathematical impossibility.

Insurance 59

Insurance Math Financial Advice Compliance 59

Discipline Funds

MARCH 6, 2024

So, if you owned $100 worth of bonds yielding 2% in 2022 you now own $90 worth of bonds yielding 5%. Since the Fed started raising rates in 2022 the annual interest burden on the national debt went from $635B to $1,025B. This is the basic math behind what’s happened to every consumer who owns these bonds.

Banking 118

Banking Government Economy Assets 118

The Big Picture

NOVEMBER 14, 2023

She has a really fascinating background, very eclectic, a combination of math and law. You, you get a, a BS in Mathematics and a JD from Boston University Math and Law. It is something, math has always come easy to me since a child. I didn’t get an advanced degree in math. Not the usual combination. What happened?

Math 130

Math Management Insurance Assets 130

Discipline Funds

APRIL 19, 2023

This became uncomfortably clear to investors in 2022 who might have needed cash from their portfolio, but couldn’t liquidate the actual cash component of the 40 without liquidating some portion of the entire 60 and 40. The math on the 40% slice is much cleaner. I don’t love a standalone bond aggregate as a 40% bond slice.

Portfolio 105

Portfolio Math Assets Management 105

Validea

JUNE 14, 2023

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. trillion, and by the end of 2022, it had soared to $40.5 With a current market cap of $2.8 trillion as of today, this would require an approximate increase of 3.6 trillion.

Math 109

Math Accounting Marketing Marketing 109

Random Roger's Retirement Planning

APRIL 12, 2023

Fixed income holdings with equity beta stand to be far less effective at helping manage equity volatility with 2022 being a text book example that we'll study for the rest of our careers. It made no sense to buy down at that low yield to manage equity volatility and 2022 showed it increased portfolio volatility.

Portfolio 75

Portfolio Math Clients Retirement 75

Darrow Wealth Management

MAY 22, 2023

In fact, the Federal Reserve has raised the upper limit federal funds rate by 5% since the beginning of 2022. Again just using simple math, this presumes the par value will roll over each month and reinvest at the same rate to get to the annual yield. Hold cash or invest? Interest rates have skyrocketed since the end of 2021.

Investing 102

Investing Investments Accounting Wealth Management 102

Sara Grillo

JUNE 17, 2024

The regulators don’t force insurance companies to provide in-force illustrations to their Universal Life policy holders and it allows them to deceive consumers who aren’t prepared to do the math required to know the truth. The early 2000s shows 8%+ROR, interest rates went to 0% in 2022. Don’t fall for it!

Insurance 59

Insurance Financial Advice Math Compliance 59

Trade Brains

DECEMBER 16, 2022

And when used for ROE, as per the basic rule of math, if the denominator decreases, the fraction as whole increases i.e, On a yearly basis, from 2018 to 2022, the company has a return on equity of 36.56%, 45.3%, 70.39%, 105.76%, and 104.53% respectively. The ROE numbers from 2018 to 2022 are 57.17%, 49.79%, 42.74%, 71.64%, and 83.3%

Pharmaceutical 59

Pharmaceutical Manufacturing Engineering Distribution 59

Walkner Condon Financial Advisors

JUNE 2, 2023

Unfortunately, we’re not quite there yet as a society, since as of 2022, the Bureau of Labor Statistics reports only a third of financial advisors are women. In 2022, nearly 42% of the externships participants were women. The importance of getting women into financial planning feels like it should go without saying.

Financial Planning 98

Financial Planning Planning CFP Financial Advisor 98

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 Marketing Marketing 52

Random Roger's Retirement Planning

JULY 27, 2022

It has had a great 2022 but doesn't appear to have captured much upside coming into 2022. In terms of complexity, several of the funds blend together multiple complex strategies and the blend itself is complex in terms of the math applied and the outcomes sought, they are complex-complexity. It's multi-asset and multi-strategy.

Portfolio 96

Portfolio Clients Assets Math 96

Random Roger's Retirement Planning

FEBRUARY 24, 2024

In the case of real estate a 2.29% weighting and for "private equity" companies it's about 17 basis points (looked at XLF holdings and then did a little math), that's just not going to move the needle. You may agree with Jack about not needing those things, that's valid, my point is that owning an index fund isn't a proxy for them.

Math 75

Math Portfolio Marketing Marketing 75

Random Roger's Retirement Planning

JULY 14, 2022

Here's how QYLD has done for the last 5 years coming into 2022, so before the market was underway, versus the NASDAQ. And here is 2022, the bear market. Similar to PUTW, it didn't offer protection during the pandemic crash of 2020 but only dropping half of what the S&P 500 index has dropped in 2022 is impressive and surprises me.

Portfolio 72

Portfolio Math Clients Marketing 72

Random Roger's Retirement Planning

MARCH 20, 2023

The way the math works, a 67% allocation to NTSX (Portfolio 2 with 33% in the T-bill ETF) equals 100% in Vanguard Balanced Index Fund (VBAIX) which is a proxy for 60/40 and Portfolio 3. Portfolio 1 is 100% in NTSX which in 2022 was down 25.84% versus down 16.85% for Portfolio 2 and 16.87% for Portfolio 3.

Assets 74

Assets Portfolio Math Management 74

Investing Caffeine

FEBRUARY 1, 2022

After this meteoric multi-year rise, stock values started to come back to earth in 2022, and the rocket ship turned into a roller coaster during January. 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. www.Sidoxia.com.

Math 52

Math Assets Investing Investments 52

Random Roger's Retirement Planning

AUGUST 1, 2024

Despite the leveraged semiconductor ETFs, when blended with USMV, the portfolio is underweight technology versus the S&P 500 using simple math, it works out to about 26% versus closer to 40% for the S&P 500. They even did much better than 60/40 in 2022 dropping only low to mid single digits.

Math 52

Math Portfolio Accounting Taxes 52

The Better Letter

DECEMBER 15, 2022

Those of us called upon professionally to write about market performance in 2022 as the year ends are necessarily struggling for the right verbiage. That’s because, in language as plain as I can make it, pretty much every market and sector has had a very bad 2022. percent and 6-month T-bills are yielding almost 4.75

Investing 80

Investing Investments Portfolio Numbers 80

Your Richest Life

NOVEMBER 9, 2023

months in January of 2022, and has since bumped up to 3.3 You should also do the math to make sure you have a clear idea of what you can afford. Appliances, for example, have seen a price decrease of 10 percent since 2022. And finally, inventory is still lower than usual. That number fell to 1.6 months in August of 2023.

Marketing 52

Marketing Marketing Budgeting Financial Planner 52

Random Roger's Retirement Planning

OCTOBER 29, 2023

This year, its performance has it the top 1% of mutual funds but in “2021 and 2022 it was ranked in the bottom 100th percentile.” Yeah, that sounds pretty good (giving them the benefit of the doubt about the math)… pretty good for an equity. I probably wrote about this one a couple of times back in the first iteration of this blog.

Insurance 96

Insurance Clients Math Portfolio 96

Random Roger's Retirement Planning

NOVEMBER 19, 2023

I was little concern during 2022 with high inflation with the market downturn. Part of the math that determines options premiums is the risk free rate of return from T-bills. As a retiree, one thing that I fear the most is the inflation. The safe withdrawal rate of 4% is not so safe when inflation is high.

Retirement 75

Retirement Accounting Math Healthcare 75

Steve Sanduski

AUGUST 4, 2022

Charles Schwab just released their 2022 RIA Benchmarking Study and I decided to crunch the numbers and see what the data shows. Now, let’s take two cuts at the growth performance of advisory firms in the 2022 RIA Benchmarking Study from Charles Schwab relative to what the markets did. Simple math says the CAGR of NET NEW ASSETS (i.e.,

Math 52

Math Portfolio Numbers Financial Market 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.

Assets 147

Assets Management Investing Investments 147

Random Roger's Retirement Planning

SEPTEMBER 29, 2024

The authors noted that risk parity did very well for a long time but that "bond based risk-parity failed miserably in 2022." In fund form, it started doing badly long before 2022 which is corroborated by AQR's change to AQRIX in 2019. Both 2 and 3 were up in 2022 while the RPAR replication was down 11%.

Portfolio 52

Portfolio Assets Management Math 52

The Big Picture

MAY 9, 2023

So I took it upon myself to go off and took a course in bond math, took another course in derivatives and realized the underlying fundamental concepts were barely, I mean, it wasn’t even high school math in most cases. RITHOLTZ: So you mentioned earlier 2022 was so unusual. So we start with a strategic asset allocation.

Assets 299

Assets Clients Investing Investments 299

Random Roger's Retirement Planning

DECEMBER 11, 2024

Imagine the Intel scenario of down 59% on top of VBAIX dropping 16% in 2022. Most of the improved return can be attributed to 2022. A 20% drop in managed futures that is leveraged to a 40% weight would have added another 800 basis points to the decline (simple math). In 2008, VBAIX was down 23%.

Portfolio 52

Portfolio Management Math Taxes 52

Random Roger's Retirement Planning

DECEMBER 10, 2023

As a matter of math, it cannot repeat the run from 8.5% Portfolio 1 is fairly apples to apples versus VBAIX using arbitrage alts instead of bonds, standard deviation comes down a little with a noticeable bump to the CAGR, importantly to me is that Portfolio 1 was better than VBAIX by over 500 basis points in 2022. in November.

Portfolio 74

Portfolio Math Assets Retirement 74